Global Biochar Market to Grow at CAGR of 14.5% from 2014 to 2020
Zion Research has published a new report titled “Biochar (Pyrolysis, Gasification, Hydrothermal and Others Technology) Market for Agriculture, Water & Waste Water Treatment and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2014 – 2020” According to the report, the global biochar market was valued at approximately USD 260.0 million in 2014 and is expected to reach approximately USD 585.0 million by 2020, growing at a CAGR of around 14.5% between 2015 and 2020. In terms of volume, global biochar market stood at 100 kilo tons in 2014.
Biochar is a fine-grained carbon rich product obtained by heating organic material such as wood, manure or leaves under conditions of no oxygen. Biochar can enhance soils, sequester carbon as well as provide useable energy. Biochar also have tendency to filter and retain nutrients from percolating soil water. Pyrolysis, hydrothermal conversion and gasification are simple and efficient technologies for transforming different biomass feedstocks into renewable energy products. Furthermore, biochar has ability to produce usable energy during its production while concurrently creating a carbon product, which provides sequester or store carbon and improve agriculture and other processes.
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Based on technology, biochar market can be segmented as pyrolysis, gasification, hydrothermal and others. The pyrolysis technology is largest segment accounted for significant share and expected to witness fastest growth at a CAGR of over 10.0% in terms of revenue from 2015 to 2020. Gasification technology does not create stable biochar which can be used in agriculture for soil amendment. This technology segment expected to decline its market share in the years to come.
On the basis of application, the biochar market has been segmented into agriculture, water & waste water treatment and others. Agriculture was a major application segment of biochar market and accounted over 80% share of the global demand in 2014 and is expected to continue its dominance in global market over the forecast period. Water & waste water treatment is another major application segment and expected to exhibit significant growth on account of growing hygiene awareness and effective water infrastructure.
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With over 50% shares in total volume consumption, North America was the largest market. North America followed by Europe and Asia Pacific region. Europe was the second largest market for biochar and accounted for around 25% shares in total volume consumption in 2014. Asia Pacific is the third largest market accounted for the significant share of total market in 2014. Latin America and Meddle East & Africa are also expected to grow at a moderate pace.
Some of the key industry players including Diacarbon Energy Inc, Vega Biofuels, Inc, Agri-Tech Producers. LLC, Hawaii Biochar Products. LLC, Biochar Products, Inc., Cool Planet Energy Systems Inc, Blackcarbon A/S, Green Charcoal International, Earth Systems Pty Ltd and Genesis.
This report segments the global biochar market as follows:
Global Biochar Market: Technology Segment Analysis
Global Biochar Market: Application Segment Analysis
- Water & Waste Water Treatment
Global Biochar Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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