The global wood vinegar market has grown steadily in the last few years. The market size is projected to reach USD 6.7 Million by 2022, at a CAGR of around 7.2% from 2016 to 2022. The growing demand for bio-based agricultural inputs is the major driving factor of this market.

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The global market, based on pyrolysis method, has been segmented into slow pyrolysis, fast pyrolysis, and intermediate pyrolysis. Slow pyrolysis method accounted for the largest market share in 2015. Slow pyrolysis process is mainly characterized by slow heating rate, long vapor residence time, and low temperature compared to fast pyrolysis. Slow pyrolysis offers better yields of char, wood vinegar, and other products compared to fast and intermediate pyrolysis. However, the process has comparatively low energy yield, is more time consuming, and leads to more pollution.

The wood vinegar market in Asia-Pacific is projected to grow at the highest CAGR during the forecast period. The major drivers for the growth of the wood vinegar market include the rapidly growing demand for biopesticides and biofertilizers. Low awareness about the application of wood vinegar is the factor restraining the market.

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The global market is characterized by low competition due to the presence of a few of large- and small-scale firms. Expansions and joint ventures are the key strategies adopted by these players to ensure their growth in the market. The market is dominated by players such as ACE (Singapore) Pte Ltd., Canada Renewable Bioenergy Corp., Nettenergy BV (Netherlands), TAGROW CO., LTD. (China), and Byron Biochar (Australia). Other players include New Life Agro (U.S.), Verdi Life (U.S.), Nakashima Trading Co. Ltd. (Japan), Penta Manufacturer (U.S.), and Doi & Co., Ltd (Japan).

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