Biochar Market Regional Outlook, Competitive Strategies, Analysis, Growth And Forecasts, 2021 -2030
According to the most recent analysis by Emergen Research, the global Biochar Market had a value of USD 160.9 million in 2021 and is anticipated to grow at a rate of 12.1% during the forecast period. Biochar is charcoal produced by carefully heating waste products including animal dung, wood refuse, and agricultural waste. Among all of the final applications, it is frequently employed as a soil amendment to lessen pollutants and hazardous elements as well as to avoid soil leaching, moisture loss, and fertiliser runoff. Greater opportunities for market expansion are projected to result from environmental awareness, lower raw material costs, and unified government policies for waste management.
Due to the absence of many large-scale manufacturers and the rising number of small- and medium-sized businesses, particularly in North America and Europe, the industry is divided into the organised and unorganised sectors. Due to a lack of knowledge about the advantages of the products and their long-term benefits, the economies of the Asia Pacific and Middle Eastern countries are predicted to grow more slowly. High-quality biochar must be produced with significant financial commitment. It caused a number of businesses to abandon the industry during the past several years.
The full potential of biochar is yet to realize in other sectors than the agricultural sector. It is used as a fabric additive in the textile industry, as a raw material in the manufacturing of building materials and as a shield against electromagnetic radiation in the electronics industry. Growing demand from the food sector is expected to be an extremely important factor in boosting the biochar market growth.
Key companies operating in the Biochar Market include:
Agri-Tech Producers, LLC, Diacarbon Energy Inc., Biochar Products, Inc., Phoenix Energy Group, BIOCHAR INNOVATIONS PTE LTD, Bioforcetech Corp., Airex Énergie Inc., Aries Clean Technologies, Mai Animal Health, and Wakefield Biochar.
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Producers of Biochar Receive Funding to Expand Their Customer Base
Players in the biochar market are seeking investments to broaden their product offerings and advance their technological capabilities. Additionally, companies like Shopify and Microsoft are buying biochar carbon credits to offset their carbon emissions. Additionally, in June 2021, Nasdaq Inc. acquired control of Puro.earth Oy, a trading platform that purchases carbon credits from engineered carbon removal techniques like biochar. Aside from that
Three Maine-based U.S. institutions provided $2 million (EUR 1.7 million) in funding to Standard Biocarbon Corporation in October 2021 for the purchase of machinery for generating biochar at the old location of the Great Northern Paper Mill in East Millinocket.
Sustainable Thinking Scotland, an environmental social company that supports community-scale green waste recycling and promotes local sustainable food production, received a EUR 190,000 investment from FirstPort and Social Enterprise Scotland’s Catalyst Fund in September 2021. Its biochar water treatment method, which involves baking scrap wood and other biomass at high temperatures, was given this funding in order to improve it. Biochar can pull carbon from the atmosphere into the soil, where it can be stored for hundreds to thousands of years.
Emergen Research has segmented the global biochar market on the basis of technology, application, and region:
- Technological Outlook (Revenue, USD Million; 2019–2030)
- Application Outlook (Revenue, USD Million; 2019–2030)
- Organic Farming
- Inorganic Farming
- Electricity Generation
- Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
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