India, Pune, Nov.29, 2017 (GLOBE NEWSWIRE) Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Biochar Market (Applications: Gardening, Agriculture, Household; Feedstock: Agriculture Waste, Forestry Waste, Animal Manure, Biomass Plantation, Others; Technology: Microwave Pyrolysis, Batch Pyrolysis Kiln, Continuous Pyrolysis Kiln, Gasifier and Cookstove, Others ; Manufacturing Process: Gasification, Fast and Intermediate Pyrolysis, Slow Pyrolysis, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2014 – 2023”, estimates that the global market for biochar is expected to reach the market value of over $15 million by 2023 and grow at a CAGR of more than 17% during the analysis period. Improved and mounting government initiatives and stringent environmental regulations are positive affecting the growth of biochar market, globally. Also, continuously growing population is creating the demand for food which is encouraging the use of biochar to enhance soil fertility and improve crop yield.
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Production of Biochar Creates an Opportunity for Effective Waste Management
The basic raw material/feedstock required for production of biochar includes agricultural waste, forestry waste, animal manure, biomass, etc. The production of biochar can offer an effective management of such organic and agricultural waste, thus resulting in keeping environment clean and avoiding the ill-effects of global warming. Organic waste is decomposed by the method of pyrolysis, which includes thermo-chemical decomposition of organic material in the deficiency of heat. Efficient waste management has several social, economic, and environmental benefits. Despite numerous economic benefits associated with the use of biochar, the high cost of product declines the affordability among farmers for the use of biochar in agricultural practices. The impact is more dominant in developing and emerging economies across the globe.
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Biochar is Expected to Witness Highest Growth from Household Application
Household application of biochar includes water filtration and herbicide removal as it helps in adsorption of toxic contaminants present in water. In terms of volume usage of biochar, household application is expected to account for the growth of around 23% during the analysis period.
North America to Lead the Biochar Market
North America is expected to maintain its dominance throughout the forecast period in terms of revenue and volume. This segment accounted for more than 62% revenue share in 2015 and is anticipated to grow at a CAGR of more than 17% during 2015 & 2023.
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Forestry Waste Accounted for the Largest Revenue in 2015
Based on feedstock, the global biochar market is bifurcated into agriculture waste, forestry waste, animal manure and biomass plantation. Forestry waste is the most commonly used feedstock for the creation of biochar and is expected to dominate the market throughout the forecast period. The forestry waste used to produce biochar primarily includes softwoods and hardwoods. Biochar production has provided sustainable management of forestry residues. In terms of revenue, in 2015 more than 50% of share was engaged by forestry waste. However, the animal manure feedstock is expected to further witness highest growth, with respect to volume, at a CAGR of around 25% during the analysis period.
Continuous Pyrolysis Kiln Technology Dominated the Market
The continuous pyrolysis kiln technology dominates the global biochar market, in terms of market size. This segment is anticipated to grow at a CAGR of 19%, in terms of revenue, during the analysis period. Biochar produced from continuous kiln is homogeneous, in terms of its properties. Moreover, continuous pyrolysis reactors are preferred for large scale production of biochar.
The global biochar market for manufacturing process is segmented into gasification, fast and intermediate pyrolysis, slow pyrolysis, and others. The slow pyrolysis manufacturing process segment dominates the global biochar market with respect to market size. Slow pyrolysis result in higher yield of biochar in comparison to the fast pyrolysis; hence, is the most effective means of biochar production. This segment is anticipated to grow at more than 17% CAGR in terms of revenue, during the analysis period. The process of slow pyrolysis may take several hours to days for the production of biochar.
Some of the key players profiled in the report include Agri-Tech Producers LLC, Biochar Products, Diacarbon Energy Inc., Chargrow LLC, Genesis Industries, Green Charcoal International, Vega Biofuels Inc., The Biochar Company, Pacific Pyrolysis Pty. Ltd., Cool Planet Energy Systems, Full Circle Biochar, and among others.
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