Biochar Market size is expected to grow from 2021 to 2027 on account of the surging adoption of effective and quality products in organic food production. The growing need for enhanced land productivity coupled with the robust presence of large-scale manufacturers has paved the path for the mounting number of R&D activities. The decreasing feedstock prices and the regulation of favorable government policies for waste management will positively drive the market trends.
Biochar is a carbon-rich material soured from the heating of waste materials, including agricultural and forest waste, and animal manure. The rising environmental awareness and lower raw material costs will also add to the market growth. However, the technological barriers across the distant regions may limit the product demand to some extent.
Based on technology, the biochar market is segmented into pyrolysis, gasification, and others. Out of these, the industry revenue from the pyrolysis segment is expected to rise driven by advantages such as optimum energy efficiency and feasibility in production. Apart from being simple and inexpensive, the technology limits the instances of water pollution and wastes getting into landfills or greenhouse gas emissions. It also offers mass-burning solutions in a mixed stream of raw materials. The increasing deployment of the mobile pyrolysis technique (MPT) will also boost the segment expansion.
With regards to application, the demand for biochar in the agriculture sector will expand significantly with growing penetration in farming practices like zero tillage & mixed farming. The higher awareness amongst farmers as well as the shifting inclination towards natural and organic food products have stirred the requirement for improved soil fertility and crop growth. The product ensures crop nutrition and growth as it offers enhanced fertilizer holding capacities and biological productivity in the soil. Rapid urbanization, increasing advancements in agricultural vertical, and growing popularity of organic farming practices are some factors influencing the biochar market growth.
North America biochar market is anticipated to gain notable impetus between the period 2021 to 2027 due to the surging product awareness and the robust presence of small-scale and large-scale manufacturers. The increasing rate of industrial and domestic waste has made way for severe government policies in the region. The growing intake of organic food has led to increased adoption of agricultural products. The higher penetration of meat has resulted in low feed costs for livestock, complimenting the regional demand for biochar.
Some of the prominent global biochar industry players include Cool Planet Energy Systems Inc., Agri-Tech Producers LLC, Full Circle Biochar, Diacarbon Energy Inc., Green-Charcoal International, Genesis Industries, Pacific Pyrolysis Pty Ltd., Vega Biofuels Inc., and Biochar Products Inc.
Strategic partnership initiatives, including acquisitions and mergers, along with investments, capacity expansions, and various other marketing and growth measures are increasingly implemented by these companies to attain competitive advantages.
For instance, in June 2020, National Carbon Technologies acquired Greenwood Village, the Colorado-based biocarbon business of Cool Planet, to obtain the biocarbon production as well as manufacturing technologies for incursion across renewable energy, agriculture, metals, and water purification.
To state another instance, in December 2019, Cool Planet explored strategic options for its carbon-negative fuels technology. The company introduced Cool Terra, its innovative biochar-based flagship product to continue innovations in the agricultural technology sector.
The ongoing COVID-19 pandemic triggered a revolutionary impact on the global economy given the imposition of nationwide lockdowns, containment drives, and trade restrictions. The biochar market also faced the heat of the outbreak due to the numerous roadblocks in business activities for manufacturers.
However, the application of safe and clean pyrolysis techniques on the treatment of medical wastes for preparing high-grade bioproducts has amplified the production of valuable products like bio-oil and biochar. The rising support of stakeholders to farmers amidst the crisis will also contribute to the market growth.