The global biochar market reached a valuation of US$ 8 Mn in 2020, which amounts to around 0.23% share of the overall charcoal market. Sales of biochar are slated to rise at a CAGR of 11% to top US$ 23 Mn by 2031. Demand for pyrolysis technology in biochar is set to increase at a CAGR of 10% across the assessment period of 2021 to 2031.
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Demand Analysis of Biochar from 2016 to 2020 Vs Market Outlook for 2021 to 2031
As per Fact.MR, a market research and competitive intelligence provider, the global biochar market was valued at US$ 8 Mn in 2020.
Biochar sales are primarily driven by its growing use as a charcoal alternative and widening applicability in electricity and power generation. Non-energy applications also remain a major booster to biochar sales.
Carbon sequestration and water retention properties of biochar and driving demand for biochar in agriculture. Though the use of biochar in building materials, plastics recycling, and as a carbon black alternative is currently at its nascent stage, its industrial applications are likely to grow as government agencies continue to research in this area.
Growing demand for biochar in electricity production, rising adoption of gasification biochar systems, and increasing sales of biochar in agriculture are driving the market growth.
All of these factors are expected to drive the biochar products market at 11% CAGR over the 2021 to 2031 forecast period.
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What are the Main Factors Fueling Market Growth for Biochar?
Potential adoption of biochar as a sorbent in processes that are aimed at immobilizing the residues of bacteriostatic antibiotics, and pharmaceuticals, for instance, sulfamethoxazole from sewage, holds significant growth potential for stakeholders.
Growing interest of market players in developing biochar into novel products that are based on its unique chemical properties is likely to uphold sales. For instance, biochar makes a viable substitute for activated carbon, which is widely used in wastewater treatment facilities to help absorb potential contaminants and reduce odors.
With potential abilities to be used as a tool to slash down soil nitrogen leaching, and thereby achieve reduced nitrogen loss from soils in croplands, biochar holds the promise to be a part of soil amendment solutions that target improved N availability in soil.
Rising use of biochar pyrolysis equipment, latest advancements in gasification biochar systems, and growing demand for biochar in farming are expected to boost the biochar market value.
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Key Segments Covered in Biochar Industry Research
- Hydrothermal Carbonization
- Woody Biomass
- Agricultural Waste
- Animal Manure
- Biochar for Agriculture
- Biochar for Animal Farming
- Biochar for Electricity Generation
Several biochar suppliers are currently leading the way and continue to dedicate their strategies to the innovation of competitively priced as well as energy-efficiency variants.
As low-emission, low-cost biochar products have been recently capturing the attention of participants in the market, it is highly likely that companies will remain adhered to advanced production techniques for a variety of economical substitutes for activated carbon applications.
Industry stakeholders are also eyeing gains out of the biochar application in limiting compost greenhouse gas (GHG) emissions and odors, and hydrogen sulfide sorption in wastewater treatment.
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