Global Biochar Market is Estimated to Reach USD 653.19 million by 2024, exhibiting at a CAGR of 15% during the Forecast 2019-2024 | TechSci Research

Growing focus on improving crop yield to drive global biochar market through 2024

According to TechSci Research report, Global Biochar Market By Technology, By Application, By Region, Competition, Forecast & Opportunities, 2024’’, global biochar market is projected to grow at a CAGR of around 15% during 2019-2024, on the back of biochar’s ability to enhance plant growth and soil fertility. Growing awareness about the advantages of biochar as a soil amendment is expected to further fuel the global biochar market in coming years.

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Some of the major manufacturers of biochar are Cool Planet Energy Systems Inc., Biochar Now LLC, Biomacon GmbH, Vega biofuels, Pacific Pyrolysis, ElementC6, Terra Char, Next Char, Chargrow usa,Carbon Gold Ltd,Agritech Producers LLC, Diacarbon Energy Inc, American Biochar Company, etc. Key players including Diacarbon Energy Inc., Agri-Tech Producers, LLC and Vega Biofuels Inc. have invested in the gasification technology and are expected to expand their production facilities during the forecast period. Moreover, number of pyrolysis equipment manufacturing companies like Clean Fuels B.V. and Earth Systems is also increasing in the market.

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Farming is the main application segment of biochar and is expected to register the fastest growth in global biochar market during forecast period. Biochar is mainly used in agriculture to enhance soil fertility and improve growth of plants by providing crop nutrition. Thus, biochar helps improve the overall agricultural productivity. Additionally, biochar has gained substantial popularity in livestock farming as an animal feed. The livestock sector is tremendously crucial for biochar, particularly in the regions such as Europe and North America, where meat is important for human consumption.

Global Biochar Market

“Backed by rising popularity of organic farming and increasing application of biochar in animal feed, biochar market is expected to witness significant growth in the Asia-Pacific region over the course of next five years. Emerging economies in the region, such as China and India are anticipated to be indispensable on account of being large agriculture markets. Numerous R&D activities conducted in the region are expected to contribute to the growth in interest for biochar in the farming community, thereby leading to improved demand.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm

“Global Biochar Market By Technology, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global biochar market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in global biochar market.

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