A recent market intelligence on the biochar landscape tracks the global scenario of biochar market. The report indicates that sales of biochar equaled 1,800 tons in 2018, which are likely to see an impressive 13% Y-o-Y rise by the end of 2019. Other than the high sustainability quotient and carbon negative peculiarity of biochar, the sales will remain highly influenced by its potential applicability in water filtration, storm water management, and green infrastructure practices. Fact.MR’s analysis presents a long-term outlook of the biochar market for the time frame 2019 to 2029. The biochar market is envisaged to register a volume CAGR of ~13% through 2029.
The global biochar market trends analysis report covers the estimation size of the market both in terms of value and volume. In a bid to recognize the growth prospects in the biochar market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market. Each segment of the biochar market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:
- North America (Canada, US)
- Latin America (Argentina, Mexico)
- Europe (NORDIC, UK)
- Japan and MEA
- APEJ (China, India)
The study opines that growing applications of biochar in greenhouse gas (GHG) remediation and waste management will continue to bolster the growth prospects of the market. Moreover, rising awareness about biochar and its role in improving plant growth has been fostering its adoption in farming, which is underpinning thr growth of market.
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As per the study, use of biochar in farming has increased significantly in the recent years, accounting for 1,251 tons of sales in 2018. This falls in line with the plethora of benefits of using biochar in farming, such as enhanced soil fertility, and consequent increase in crop yields. Biochar has also garnered substantial traction as a fertilizer to improve the water retention capacity, aeration and soil tilth. Companies are eying the lucrativeness of biochar in aiding carbon sequestration to march forward in the biochar market. These are the key determinants that are positively impacting the growth prospects of the biochar market.
Sales of biochar will pick pace in the forthcoming years, owing to growing awareness about its potential role in alleviating climate change. This falls in line with the presence of carbon in raw biomass, which would otherwise degrade to the greenhouse gases and get sequester in the soil for several years. The study indicates that as growing ongoing research and development activities are investigating potential applications of biochar, such as filtration and super capacitors, sales are likely to grow significantly through 2029.
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North America will continue to reign supreme globally, through 2029. A large number of market players in North America are increasingly focusing on innovating their offerings and biochar commercialization to expand their footprint in the global market. As per the study, commercialization of biochar as a soil additive is yet to achieve its full potential among farmers, which also points to a new window of opportunity for market players. Several market players are taking significant initiatives and organizing programs in different regions to explicitly educate farmers, and drive their product sales.
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