SAN FRANCISCO, May 30, 2018 /PRNewswire/ --
The global biochar market is expected to reach USD 3,146.1 million by 2025, according to a new report by Grand View Research, Inc. Globally increasing consumption of organic food has been a major factor driving market growth. In addition, growing awareness regarding the advantages of biochar as soil amendment is further supplementing demand for the global market.
Biochar is an emerging industry and the product is at its nascent stage. The product is expected to be a key factor for increasing agricultural productivity and crop yield in the near future. Its ability to enhance soil fertility and plant growth is expected to be a key factor on account of growing global population and rising demand for organic food. Agriculture was the largest product category in 2017 and is expected to grow substantially over the forecast period. Farming was the major application segment in agriculture with a share of over 51.8% in 2017.
Application in agriculture segment is expected to observe the fastest growth over the next nine years with an estimated CAGR of around 12.5% from 2018 to 2025. Biochar is primarily used in agriculture to enhance soil fertility, improve plant growth, and provide crop nutrition. As a result, it, improves the overall productivity. It has also gained considerable popularity in livestock farming as an animal feed. The livestock sector is extremely crucial for biochar, especially in regions such as the North America and Europe where meat is important for human consumption.
Browse full research report with TOC on "Biochar Market Size, Share & Trend Analysis By Technology (Pyrolysis, Gasification, Others), By Application (Agriculture (Farming, Livestock) By Region & Segment Forecasts, 2012 - 2025" at: https://www.grandviewresearch.com/industry-analysis/biochar-market
Further Key Findings From the Report Suggest:
- The global demand stood 353.4 kilo tons in 2017 and is expected to grow at a CAGR of 12.2% from 2018 to 2025
- Agriculture emerged as the largest application segment in 2017 and is estimated to generate revenue over USD 2,441.2 million by 2025
- Global demand in pyrolysis was USD 737 million in 2017 and is anticipated to witness staggered growth over the next nine years
- The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to rising popularity of organic farming and increasing application in animal feed.
- Key players including Diacarbon Energy Inc, Vega Biofuels Inc. and Agri-Tech Producers, LLC have invested heavily in gasification technology and are expected to expand their production facilities over the forecast period. The market has also witnessed an increase in the number of pyrolysis equipment manufacturing companies such as Earth Systems and Clean Fuels B.V. In April 2014, Phoenix Energy announced construction of a biomass gasification facility in California, in order to strengthen its business presence.
Browse related reports by Grand View Research:
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Grand View Research has segmented the global biochar market on the basis of technology, application and region:
- Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2025)
- Application Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2025)
- Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2012 - 2025)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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