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Global Biochar Market Is Estimated To Reach $17,050 Thousand By 2024
Global biochar market report published by Accurize Market Research forecast that the global market is expected to reach $17,050 thousand by 2024; growing at a CAGR of 16.2% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Waste management potential, enhanced soil fertility and crop yield, increased government initiatives and strict environmental regulations across the globe to drive the growth of the market
Waste management potential enhanced soil fertility and crop yield, increased government initiatives, and strict environment regulations fuel the demand for the global biochar market. Moreover, the natural carbon sequestration property of biochar also boosts the growth of the market.
The global biochar market has been bifurcated on the basis of offered stock, technology, application, and geography. The market is segmented by feedstock as agriculture waste, forestry waste, animal manure, and biomass plantation. The technology segment includes microwave pyrolysis, batch pyrolysis kiln, continuous pyrolysis kiln, gasifier& cookstove, and other technologies. Furthermore, the market is segmented by application as gardening, agriculture, and household.
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By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in the U.S., Canada, and Mexico whereas the Europe segment consists of the UK, Germany, France, and the Rest of Europe. Asia-Pacific is segmented into India, China, and the Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa.
“Forestry waste accounted for the largest market share in the feedstock segment", says Accurize
By feedstock, forestry waste accounted for the largest market share in 2017, and is expected to continue its dominance during the forecast period 2017 – 2025, owing to its use in biofuel production.
Moreover, continuous pyrolysis kiln accounted for the largest market share in 2017, in the technology segment, and is expected to continue its dominance during the forecast period, owing to the high adoption of continuous pyrolysis kiln technology for biochar production.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America dominated the global market with the largest market share and is expected to continue its dominance during the forecasted period, owing to rising demand for agricultural products and enhancement in soil fertility and crop yield in the region. This region reports high usage of chemical fertilizers, with mining &deforestation, resulting in the degradation of its soil quality, driving the growth of the Market in the forecasted period.
Top players in the market
The key market players include Vega Biofuels, Inc., Pacific Pyrolysis Pty Ltd, Pacific Biochar, Genesis Industries LLC, CharGrow, LLC, Cool Planet Energy Systems, Diacarbon Energy Inc., Biochar Supreme LLC, Phoenix Energy, and Earth Systems Bioenergy, among others.
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