Lucrative Applications in the Agricultural Sectors to Nudge the Global Biochar Market to Prosper at a 7.82% CAGR Over the Forecast Period of 2018-2026
“According to a new market research report published by Inkwood Research, the Global Biochar Market is predicted to progress over the forecast period of 2018-2026 by exhibiting a CAGR of 7.82%. The market worth is expected to catapult from $1058 million in 2017, and reach $3890 million by the end of this projected period.”
“Browse 25 market data Tables and 32 Figures spread over 217 Pages along with an in-depth TOC for the Global Biochar Market Forecast 2018-2026.”
The global biochar market is characterized by various scales of biochar production facilities; from micro-scale domestic cook-stoves to large-scale industrial production facilities that cater to various end-user segments. Factors such as cheap and wide availability of feedstock and reliable and continuous flow of energy, coupled with the growing environmental regulations across the world are driving the global biochar market for the forecast period.
Slow pyrolysis is the most popular technology
Compared to other technologies like gasification, fast pyrolysis, intermediate pyrolysis, hydrothermal carbonization and microwave pyrolysis, the slow pyrolysis technology is much more cost-effective as it can be performed at remote locations at a relatively small scale. This helps in enhancing the energy density of the biomass resource and reduces the associated transport and handling costs. The segment also finds potential application in electricity generation. The biochar market in North America has shown considerable adoption of this technology.
Agriculture & Livestock: A significant application area
Biochar helps improve soil fertility and crop productivity. It also helps retain moisture and nutrients in the soil, thus reducing the additional costs of fertilizers. Biochar also acts as a feed supplement, reducing health problems, improving feed intake, and protecting the livestock from various allergies. According to statistics, around 90% of the biochar used in Europe is for livestock purposes.
Asia-Pacific market to grow with the highest CAGR
Overall, the global biochar market is expanded over Asia Pacific, Europe, North America and rest of the world. Of these, the Asia-Pacific market is expected to show considerable economic and agricultural development in the coming years. Biochar use has a very promising potential for the development of sustainable agricultural systems in the emerging economies of APAC like India, China, Japan, South Korea, etc. Also, biochar research and development (R&D) at universities and research institutions has experienced robust growth in recent years, which is presenting a potential opportunity for the APAC market to expand at a global scale.
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Financial barriers interrupting business investments?
According to a recent survey, around 85% of biochar vendors and equipment manufacturers utilized either personal capital or loans from friends or family, whereas a quarter of ventures sought philanthropic (non-repayable) funding from public or private granting sources. This is because banks and other traditional lenders are reluctant to invest in biochar projects because of the nascent stage of the technology, which makes it a high-risk venture.
Yet, several market players have exhibited track records of gaining sufficient gains from the global biochar market. Some of these leading companies include Vega Biofuels Inc, Diacarbon Energy Inc, Biogreen-Energy, Agri-Tech Producers LLC, Biochar Supreme, Avello Bioenergy, Cool Planet Energy System, Pacific Biochar, and Biochar Now.
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