- Escalating demand for biochar as livestock feed is one of the significant factors influencing the market growth
- Market Size – USD 1.45 billion in 2019, Market Growth - CAGR of 12.3%, Market Trends – Surging demand in greenhouse remediation
New York, June 18, 2020 /PRNewswire/ -- The global biochar market is expected to reach USD 3.67 Billion by 2027, according to a new report by Reports and Data. It finds usage as a feed additive and is considered beneficial for the improvement of feed efficiency, animal health, and environment for livestock housing. Livestock rearing is providing better growth prospects for the use of biochar. Animals ranging from earthworms to chickens and cattle, among others, show great interest in food when biochar is added to it. In the European Union, around 90.0% of the biochar is used to feed livestock, and remaining is used in applications, including spreading on agricultural land with manure. A direct application of the product in poultry rearing is the reduction and elimination of odors produced from poultry litter, especially ammonia. The strong positive electric charge of ammonia makes it corrosive and harmful to breathe. This chocking gas is released by bird droppings, making the air toxic and unhealthy to living beings.
Growing demand for high crop yield is one of the significant factors influencing the market growth. The product allows farmers to increase their crop yield by boosting the productivity of the agricultural land, as well as can make an otherwise less productive land produce substantial yields. Biochar soil amendment improves crop productivity mainly by increasing nutrient use efficiency and water holding capacity.
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However, the high cost associated with the production of biochar and low awareness about the beneficial properties may create hindrances in the growth of the market in the upcoming years.
The COVID-19 pandemic is having a significant impact on the chemicals & materials industry. Demand for products such as biochar is suffering severe shocks across various end-use markets, worldwide supply chains are upset, and the competitive order of manufacturers/producers has witnessed a change. The shortage of demand has fast-tracked the global chemical sector into an oversupply situation. Lack of free movement of the labor force required for the application of biochar on agricultural land and as animal feedstock in the is lacking, thereby hindering the growth of the market in the COVID-19 pandemic. Movement restrictions appear to be a direct and immediate effect, and once the compulsory social distancing ends, it is expected things would get back to normal conditions.
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Further key findings from the report suggest
- By technology, pyrolysis contributed to the largest market share of around 75.0% in 2019. It is the most commonly used method for the production of biochar. In this method, the product is produced by the decomposing biomass thermo-chemically in the absence of oxygen at a temperature in the range of 350-700 °C. The process discharges volatile end-products, whereas the carbon-rich solid and non-volatiles end-products are collected as biochar.
- By distribution channel, offline held a larger market share in 2019. The biochar industry is very offline-intensive and witnesses transparency. The offline channel necessitates the requirement of substantial investment of time by the buyer and high selling costs, along with considerable knowledge of the market on the seller side.
- By application, farming contributed to the largest market share in 2019. The application of biochar for crop production is a feasible alternative that can improve the carbon sequestration rates in the soil, improve soil quality, and reduce farm waste. The product is considered to be beneficial in increasing conventional agricultural productivity and alleviate greenhouse gas emissions from agricultural soils.
- The market in the North American region dominated the market in 2019 and is likely to grow at a rate of 11.6% in the forecast period. The market dominance of the region is owing to a high consumption of meat and a growing inclination for organic food. Besides, high awareness about the benefits of the product in the region is driving the market growth,
- Key participants include Diacarbon Energy Inc., Cool Planet Energy Systems Inc., Agri-Tech Producers LLC, Biochar Products Inc., Vega Biofuels Inc., Phoenix Energy, Pacific Pyrolysis, The Biochar Company, Clean Biofuels BV, and Biochar Supreme LLC, among others.
- In June 2017, Vega Biofuels, Inc. made an announcement about the signing of an agreement to set up a biochar production plant in Anchorage (Alaska), the US intended for a high-grade medium for legal cannabis farmers in Alaska and the Pacific Northwest. Also, Vega entered into a reseller alliance with an Anchorage cannabis start-up firm for the marketing of its biochar across Alaska.
For the purpose of this report, Reports and Data have segmented the global biochar market on the basis of technology, distribution channel, application, and region:
Technology Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Distribution Channel Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
Regional Outlook (Volume, Kilo Tons, Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
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