Biochar market was valued at US$ 4.2 Mn in 2018, and the sales are primarily driven by its growing use as charcoal alternative and widening applicability in electricity and power generation. Non-energy applications also remain a major booster to biochar sales. The biochar market is estimated to register ~14% CAGR during 2019-2029, in line with carbon sequestration and water retention properties of biochar, driving its applications in the agriculture industry. Burgeoning environmental concerns and growing availability of inexpensive feedstock have been creating significant demand for biochar, particularly in North America, which continues to spearhead the global biochar market. South Asia is envisaged to be the high-growth regional market for stakeholders, with gains mainly poured in by the proliferating biofuel sector in the region.
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Biochar Market – Competition Landscape
The global landscape of biochar market continues to represent a highly fragmented competition structure, and a majority of revenue shares are held by a wide pool of several unorganized players. Companies, such as Carbon Gold Ltd., Biochar Now LLC, Genesis Industries LLC, Biochar Supreme LLC, and Diacarbon Energy Inc., 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 biochar 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.
A large number of market players are leveraging their R&D capabilities to explore the potential application of biochar in the generation of electricity, and nutrition retention of soil. In view of the potential application and eventual demand for biochar in solving dry land issues, such as acidified soils and drought related problems, stakeholders are investing efforts in creating awareness among the farmers, to unlock new opportunistic avenues in the market. Additionally, the shifting focus of companies on capitalizing on the growing application of biochar in water conservation points to an influx of opportunities in the competition landscape.
Biochar Market - Key Growth Influencers
Biochar possesses abilities to improve the infiltrating precipitation in the non-irrigated dry-land production areas, which continues to uplift the scope of penetration, for biochar. Biochar has been a perceived as a potential soil health enhancer, and the escalating demand for effective soil conditioning agents continues to pace up the gains for the biochar market. Biochar and related products have been recently witnessing substantial traction as a viable substitute for boosting soil’s carbon content, eventually resulting in rich soil fertility. The rising regulatory check on the non-therapeutic use of antibiotics, particularly within the poultry sector, continues to create significant adoption opportunities for biochar. When used as a feed additive or supplement, biochar serves to prevent infections and effectively conveys the growth and performance benefits. 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 undertake research in this area. 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 an 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 potential 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 soils. However, the spatial variability and extent of this functionality of biochar at a global level still remain unclear.
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Key Challenges Faced by Stakeholders in Biochar Market
Biochar’s expensive price point remains a significant challenge to the biochar market development, alongside fundamental structural barriers, such as lack of capital for producers, an immature carbon market, and shorter timelines for mine land remediation bonds. Lack of efficient technology for low emission biochar production, particularly for remote or mobile production, has been impeding the market growth prospects over the recent past. While biochar commercialization is still in its early stages, this hard selling asset lacks consistency and standardization, which continues to impede the growth of the market. Severing concerns about unsustainable production process of biochar will remain among the prominent factors responsible for to hamper hampering the growth potential of stakeholders.
Does Biochar Promise to Help Mitigate Climate Changes?
Growing awareness about the carbon negative nature of pyrolysis-derived biochar is creating fresh growth avenues for stakeholders. The potential role of this bichar system derived by the process of pyrolysis is being increasingly viewed as a potential tool to mitigate climate change, by restoring plant based carbon in a stabilized form in soil to prevent decomposition. Though the consensus revolving around the effectiveness of soil biochar amendments in eradicating CO2 from the atmosphere continues to grow, its chemical properties and net carbon footprint are widely variable.
An authentic methodology, coupled with a holistic approach, lays the base for the actionable insights mentioned in the biochar market for the time frame, 2019-2029. The Fact.MR report provides comprehensive information about the future opportunistic value of biochar market along with enthralling insights into the forecast analysis of the market.
Intensive primary and secondary research has been employed to garner riveting insights into the projection analysis of biochar market market. The report on biochar market has further undergone various cross-validation tunnels to ensure that the report carries one-of-its-kind and exclusive information for the readers.
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