Los Angeles, United States, October 11, 2019 –QY Research recently published a report titled, “Global Biochar Market Report, History and Forecast 2014-2025”. This report analysis the wide scope of global biochar market by studying the types of products and there applications pertaining to the biochar market. The researchers have provided a study of the lucrative prospects of global biochar market. The market is reporting a surging demand globally is due to tackle problem related to soil erosion.
The global biochar market was valued around US$400 mn in 2018 and is expected to reach about US$750 mn by the end of 2025. The global market for biochar market is projected to rise at around 8% CAGR approximately between 2019 and 2025.
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Importance of Averting Soil Erosion `to Drive Consumption of Global Biochar Market
The global biochar market is experiencing a surge in demand due to the rising environmental concerns. Rapid pace of climate change, industrialization, and urbanization have led to tremendous amount of erosion. Most of this has been a result of deforestation, especially in urban spaces. This has promoted many developers to focus on primary use of biochar, a type of coal, to enhance soil productivity. It is predominantly being used for soil amendment, which is achieved through retaining water and water-soluble nutrients, improving water quality, reducing soil erosion, reducing nutrient leaching, and reducing soil acidity. These benefits of biochar have also increased its demand in the agriculture sector for fertilizing and irrigation.
In addition, demand for biochar will also improve as it enables carbon sinks, slash-and-char, water retention, greenhouse gas remediation, waste management, and energy production. Moreover, its increasing adoption in bio fuel sector by numerous government and non-government bodies is also leading to an expansion in the market.
Wood Source Biochar to Hold Largest Market Share Owing to its Increasing Industrial Use
The global biochar market is segmented into product type and application. The product type segment includes wood source biochar, corn stove source biochar, rice stove source biochar, wheat stove source biochar, and other stove source biochar. Over the forecast period, the wood source biochar segment is expected to gross the highest among others with its increasing use in industries. The application segment soil conditioner, fertilizer, and others. Due to multiple regulations by government on production of chemical fertilizers, market share of biochar fertilizers is expected to grow significantly over the forecast period.
North America to Increase its Investment in Global Biochar Market
The U.S. holds the major share of the global biochar market owing to huge product awareness. This regional market is increasingly investing in biochar for reducing carbon footprint of industries. Europe is considered second largest market for biochar due to the rising environment awareness in the region. Asia Pacific too is anticipated to be the fastest-growing market in the future due to increasing use of biochar in feedstock and growing demand for organic farming.
Scope of Biochar in Carbon Sequestration to Increase Competition among Companies
Biochar market is observing an increased competition due low entry barrier for companies. Furthermore, growing demand for carbon sequestration has made companies compete for a greater share. To overcome competition, players are focusing on product innovation and impactful marketing strategies. Some of the major manufacturers in the industry includes Cool Planet, Biochar Supreme, NextChar, Terra Char, Genesis Industries, Interra Energy, CharGrow, Pacific Biochar, Biochar Now, The Biochar Company (TBC), ElementC6, and Vega Biofuels.
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