Pyrolysis Technology to Hold Over 60% Revenue Share in Global Biochar Market: Fact.MR Study
Published : 01 Dec 2021 Industry: Chemical & Materials
As per detailed industry analysis on biochar by Fact.MR, a market research and competitive intelligence provider, the global market is anticipated to expand at a robust CAGR of 11% over the forecast period of 2021-2031, reaching a valuation of US$ 23 Mn.
Biochar is an important component of soil amendment because it removes all harmful elements and sand pollution. Biochar reduces the danger of soil erosion by preventing fertilizer runoff, controlling and maintaining soil moisture, preventing soil leeching, and preventing soil erosion. Biochar possesses abilities to improve infiltrating precipitation in non-irrigated dry-land production areas, which continues to uplift the scope of penetration for biochar.
Biochar has been perceived as a potential soil health enhancer, and the escalating demand for effective soil conditioning agents continues to pace up the gains for the biochar market. Biochar and related products have been recently witnessing substantial traction as a viable substitute for boosting the soil’s carbon content, eventually resulting in rich soil fertility.
Rising regulatory checks on non-therapeutic use of antibiotics, particularly within the poultry sector, continue to create significant adoption opportunities for biochar. When used as a feed additive or supplement, biochar serves to prevent infections and effectively conveys the growth and performance benefits.
Key Takeaways from Market Study
- Global biochar market to top US$ 23 Mn by 2031.
- Pyrolysis technology segment projected to reach around US$ 13 Mn by 2031.
- Agricultural waste projected to record above 15% CAGR over next 10 years.
- Market in North America holds share of more than 50%.
- Market in Japan to record 10% CAGR over forecast period of 2021- 2031.
“Growing environmental concerns, rising acceptance of biochar as an appropriate substitute for chemical fertilizers, and cooperative government waste management regulations are expected to create greater opportunities for the growth of the biochar market over the next ten years,” says a Fact.MR analyst.
A large number of market players are leveraging their R&D capabilities to explore the potential application of biochar in the generation of electricity and nutrition retention of soil.
Because of the potential application and eventual demand for biochar in solving dry land issues, such as acidified soils and drought related problems, stakeholders are investing efforts in creating awareness among farmers to unlock new opportunistic avenues in the market.
Additionally, shifting focus of companies on capitalizing on the growing application of biochar in water conservation points to an influx of opportunities in the competitive landscape.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the biochar market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of technology (pyrolysis, gasification, and hydrothermal carbonization), feedstock (woody biomass, agricultural waste, animal manure, and others), and application (agriculture, animal farming, electricity generation, others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
About the Chemicals and Materials Division at Fact.MR
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With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the chemicals and materials industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant – Chemicals and Materials