The Global Biochar Market Size is predicted to be valued at $2,366.4 million by 2031, surging from $447.7 million in 2021, at a noteworthy CAGR of 18.4%.
Impact Analysis of COVID-19 on the Biochar Market
The COVID-19 pandemic has led to severe uncertainties for several businesses and industries globally. However, the pandemic impact on the Biochar Market was negligible as for the production of biomass, the feedstock such as agricultural waste is used and agricultural activities were functional during the pandemic. Additionally, the raw materials required for biochar production such as woody biomass, animal manure, and agricultural waste are easily available owing to which biochar producers have not faced issue with the availability of raw materials.
Biochar is a sustainable solution to reducing carbon emissions, mitigating climate change, and boosting the crop yield. During the pandemic, biochar producers have also received funding and investment for biochar production. For instance, in 2021, Standard Biocarbon, a leading technology platform that offers diverse solutions for reducing the carbon emission, received $2,000 in funding from three different U.S.-based companies namely Maine Technology Institute (MTI), Coastal Enterprises (CEI), and Finance Authority of Maine (FAME). With this funding, Standard Biocarbon, can purchase equipment for the production of high-quality biochar. These factors are anticipated to boost the biochar market share in the upcoming years.
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Global Biochar Market Analysis
Biochar plays a major role in the development of sustainable economy as it reduces harmful carbon emissions. Biochar is becoming highly popular across agricultural sector owing to its highly porous structure, that helps in retaining the soil nutrients such as phosphorous, nitrogen, and water. Biochar produced from different feedstocks offers various advantages. For instance, the biochar produced from animal manure is rich in nutrients. The biochar produced from woody biomass does not degrade easily and persists for a long time. Thus, woody biomass can be used in depleted soil where there is a lack of nutrients or inadequate water supply. With the application of biochar, soil fertility is improved as biochar acts as a sequester of carbon which is essential for plant growth. Also, biochar reduces the need for chemical fertilizers that help in maintaining soil fertility.
For the production of biochar, high-temperature kilns with a temperature of 400-700 degree-Celsius must be maintained for several hours during which lot of thermal energy is produced. Sometimes, sewage is used for the production of biochar which contains heavy metals; the presence of heavy metals such as nickel, chromium, zins, and others can be toxic and can lead to soil compaction. These factors are estimated to hamper the biochar market during the forecast period.
Increasing adoption of biochar across building materials, filtration, and livestock feed sector is estimated to generate excellent growth opportunities. Owing to the high carbon content of biochar, it is widely used for water filtration as a cheaper source. The use of biochar in livestock feed, serves as a feed-binding agent that helps in boosting animal health. Biochar is used in building materials as biochar-based plaster containing lime, cement, and other additives provide excellent insulation and odor reduction. The emerging applications of biochar include it’s use across fuel cell technology owing to its excellent chemical and electrical conductivity. These factors are projected to boost the biochar market growth during the forecast period.
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Global Biochar Market, Segmentation
The global biochar market is segmented based on feedstock, production method, application, and region.
Feedstock:
The feedstock sub-segment is further classified into agricultural waste, animal manure, bamboo-based, and others. Among these, the bamboo-based sub-segment accounted for a dominant market share and is projected to show the fastest growth during the forecast period. Bamboo-based (woody biomass) is the largest source of feedstock for biochar production. Bamboo-based biomass is greatly used for biochar production as it is easily available, has highly porous structure, and is rich in essential nutrients. The bamboo-based biochar is produced using biomass such as sawdust, wood chips, or bark of trees. The use of bamboo-based biochar helps in increasing soil fertility with adsorptive properties that help in retaining vital soil nutrients.
Production Method:
The production method segment is further divided into pyrolysis, gasification, and others. The pyrolysis sub-segment accounted for highest market size, and it is estimated to show the fastest growth during the analysis timeframe. Pyrolysis is a traditional and widely used method for the biochar production. During pyrolysis, the biomass is heated at high temperatures in the absence of oxygen. Also, pyrolysis is an inexpensive and simple technology, that can process a variety of feedstocks such as agricultural waste and manure. During pyrolysis, the amount of waste entering landfill is reduced, which lowers the emission of greenhouse gases. These are the major factors anticipated to drive the pyrolysis sub-segment growth during the analysis timeframe.
Application:
The application segment is further classified into agriculture, livestock feed, building materials, and others. Among these, the agriculture sub-segment accounted for highest market share and is estimated to show the fastest growth during the forecast period. This growth is majorly owing to the use of biochar as a fertilizer and for soil amendment in the agricultural sector. The application of biochar increases the microbial activity in the soil and helps in the retention of essential soil nutrients. This is majorly owing to the large surface areas and high porosity imparted to the soil by biochar that helps in the growth of beneficial micro-organisms. Also, biochar enhances the microbial activity of the soil and increases the nutrient uptake by plants which facilitates the growth of crops.
Region:
The biochar market for the Europe region is projected to show the fastest growth during the forecast period. This is majorly owing to growing sustainability concerns and the net-zero carbon emission target set by several European countries. Biochar helps in reducing the carbon emissions and prevents the degradation of soil. In Europe, biochar is widely used as composting additives, carriers for fertilizers, soil conditioners, manure treatment, silage additives, stable bedding, feed additives, and others. Additionally, biochar in Europe is also in plastics, paper, construction, and textile sector. These factors are anticipated to boost the Europe biochar market size in the upcoming years.
Key Players in the Global Biochar Industry
Some of the leading biochar market players are
• Agri- tech Producers LLC
• Airex Énergie Inc.
• American BioChar
• ECOERA
• Biochar Now
• Bioforcetech Corp.
• Chargrow USA LLC
• Pacific Biochar Benefit Corporation
• Phoenix Energy
• ARSTA Eco PVT LTD.
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