Biochar Market Poised to Bring in $585.0 million by 2020

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Biochar Market Poised to Bring in $585.0 million by 2020

According to the report, the global biochar market was valued at approximately USD 260.0 million in 2014 and is expected to reach approximately USD 585.0 million by 2020, growing at a CAGR of around 14.5% between 2015 and 2020. In terms of volume, global biochar market stood at 100 kilotons in 2014. Zion Market Research has published a new report titled “Biochar (Pyrolysis, Gasification, Hydrothermal and Others Technology) Market for Agriculture, Water & Waste Water Treatment, and Other Applications: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020”

Biochar is a charred carbon charcoal-like product derived from biomass that can enhance soils quality, sequester carbon. Biochar has been produced under conditions that optimize properties useful in agriculture, such as low amounts of residual resins and high surface area per unit of volume. There are some thermochemical technologies such as pyrolysis, gasification and hydrothermal conversion to produce biochar. Biochar is mainly used to improve soil quality by increasing soil pH as well as its moisture holding capacity. Biochar also has the tendency to filter and retain nutrients from percolating soil water.

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The major driving factors for biochar market are increasing demand from the agricultural sector, increasing environmental awareness and growing demand for organic farming in North America and Europe. Biochar is also growing in popularity among livestock farmers, which is expected to drive the market growth over the forecast period. Furthermore, government support for gasification projects is another key factor expected to propel biochar market growth over the forecast period. However, lack of consumer awareness and technology uncertainties is expected to limit the growth of this industry.

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The biochar market is segmented on the basis of technology such as pyrolysis, gasification, hydrothermal and others. The pyrolysis technology is leading segment with a significant share of the total market in 2014. This growth can be attributed to high yield, along with high carbon content and stability. Gasification technology does not create stable biochar which can be used in agriculture for soil amendment. However, this technology segment expected to decline its market share over the forecast period.

On the basis of application, the biochar market has been segmented into agriculture, water & wastewater treatment and others. Agriculture was a major application segment of biochar market and accounted over 80% share of the global demand in 2014 and is expected to continue its dominance in the global market over the forecast period. Water & wastewater treatment is another major application segment and expected to exhibit significant growth on account of growing hygiene awareness and effective water infrastructure.

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The global biochar market was dominated by North America with over 50% market share in total volume consumption in 2014. North America followed by Europe and Asia Pacific region. Europe was the leading regional market accounted for over 24% share of the global volume in 2014. Asia Pacific is the third largest market accounted for the significant share in total volume consumption and is expected to witness moderate growth over the forecast period.

Some of the key industry players including Diacarbon Energy Inc, Vega Biofuels, Inc, Agri-Tech Producers. Llc,  Hawaii Biochar Products. LLC, Biochar Products, Inc., Cool Planet Energy Systems Inc, Blackcarbon A/S, Green-Charcoal International, Earth Systems Pty Ltd,  and Genesis.