Global Biochar Market to be Worth around USD 3,673.68 Million by 2026 growing at a CAGR of 13.61% - Zion Market Research

NEW YORK, Sept. 17, 2021 /PRNewswire/ -- Zion Market Research has published a new report titled "Biochar Market by Feedstock Type (Woody Biomass, Agricultural Waste, Animal Manure, and Others), by Technology (Pyrolysis, Gasification, and Others), and by Application (Electricity Generation, Agriculture, and Forestry): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020–2026". According to the report, global Biochar market accounted for USD 1,503.75 Million in 2019 and is expected to reach USD 3,673.68 Million by 2026, growing at a CAGR of 13.61%.

Biochar is commonly produced in the presence of oxygen when biomass, such as wood leaves or manure, is heated or burned. Typically, they are created by a process called pyrolysis and are commonly used to improve soil quality and mitigate climate change. Biochar is able to transform carbon into a stable form and is cleaner than other charcoal forms. They are used in applications such as agriculture, gardening, and electricity generation among others. Cheaper cost of raw material, environmental awareness and government laws for waste management are predicted to create huge platform for market expansion.

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Global Biochar Market: Growth Factors

Biochar, carbonized biomass similar to charcoal, has been used in the urgent medical care of animals for several years. Biochar has been increasingly used by livestock farmers since 2010 as a daily feed supplement to enhance animal health, increase the quality of nutrient intake and thus productivity. As biochar gets enriched during the digestion process with nitrogen-rich organic compounds, the excreted biochar-manure becomes a more useful organic fertilizer during storage and soil application, causing lower nutrient losses and greenhouse gas emissions. Thus, the demand for biochar in livestock feed has accelerated the growth of biochar market globally. Moreover, the increasing demand of biochar in greenhouse gas remediation and energy production has also spiked the overall growth of the market. Additionally, rising environmental concern and awareness about the biochar among population is another factor boosting the demand for global biochar market.