Global Biochar Market to Grow with a CAGR of 13.93% During 2021-2030; Market to Grow on Account of Rising Awareness for the Product Across End-Use Industries
Kenneth Research published a report titled “Biochar Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global biochar market in terms of market segmentation by technology, product form, raw material, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global biochar market is anticipated to grow with a CAGR 13.93% over the forecast period, i.e., 2021 – 2030. The market is segmented by technology into pyrolysis, gasification, batch pyrolysis kiln, cookstove, and others, out of which, the pyrolysis segment is anticipated to garner the largest revenue of USD 817.0 Million by the end of 2030. Moreover, in the year 2020, the segment generated a revenue of USD 211.6 Million.
The global biochar market is estimated to garner a revenue of USD 1130.2 Million by the end of 2030, up from a revenue of USD 309.8 Million in the year 2020. Increasing awareness about the benefits associated with the use of biochar across different end-users, along with the rising number of initiatives by the government that help in promoting awareness about the product are some of the major factors anticipated to drive the growth of the market in the coming years.
Geographically, the global biochar market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa. Out of these, the market in Asia Pacific is anticipated to generate the largest revenue of USD 487.4 Million by the end of 2030. Moreover, the market in the region generated a revenue of USD 131.5 Million in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Need for Bio-Fertilizers by Farmers to Drive Market Growth
Globally, the availability of arable land decreased from 0.221 hectares per person in the year 2000 to 0.184 hectares per person in the year 2018, according to the statistics by the World Bank.
Farmers around the globe are increasingly concerned for the decreasing availability of arable land as it could severely hamper their overall crop production quantity. Owing to such a factor, farmers nowadays are increasingly using fertilizers to raise the fertility of the soil and increase the crop production volume at the limited available space. Biochar is a widely used biofertilizer as it holds the properties of improving soil texture, as well as the porosity, density and the structure of the soil. Such factors are anticipated to drive the growth of the global biochar market in the coming years.
However, the lack of awareness about the product in several nations, along with the rising concern for emission of methane and nitrous oxide during the manufacturing of the product are expected to operate as key restraint to the growth of global biochar market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global biochar market which includes company profiling of Pyropower, ETIA S.A.S., Airex Energie Inc., ECOERA AB, Genesis Industries, ARSTA ECO PVT LTD, GREENBACK PTE LTD, Swiss Biochar Sarl, Iwamoto Inc., KANSAI CORPORATION, MEIWA CO., LTD., Biochar Supreme, LLC, Tesaki Seisakusho Co., Ltd., EkoBalans Fenix AB, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global biochar market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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