As per the projections of the TMR report, the demand in the global will multiply at an impressive CAGR of 14.5% during the forecast period of 2017 to 2025, estimating it to reach a valuation of US$14,751.8 thousand by 2025, considerably up from its evaluated worth of merely US$444.2 thousand in 2016. The report also detects Federal Rural University of the Amazon, Aberystwyth University, University of East Anglia, and Massey University as some of the institutes that are currently involved in the research and production of biochar, and may redefine the future of the global market for it. As far as the share of domestic players in the global pie is concerned, the report notes high concentration of manufacturers in the region of North America. These small enterprises are completely integrated into the value chain of the biochar market, right from the production stage to its commercialization.
The global biochar market is gaining traction from a number of factors, such as its growing usage for soil enhancement, escalating demand for organic food, strict government regulations for soil preservation, waste management benefits, growing investment in the bio-fuels sector, increasing environmental concerns and the consequent need to reduce greenhouse gas emission, and the availability of cheaper feedstock and management of waste disposal. Biochar is produced mainly through modern pyrolysis processes in which direct thermal decomposition of biomass waste in the absence of oxygen takes place, resulting into biochar along with bio-oil and syngas.
Biochar is rich in carbon content and is fine grained residue. Biochar can also be obtained using different technologies such as gasification and microwave pyrolysis. In the agriculture sector, biochar is primarily used to enhance soil fertility, increase yield, and provide crop nutrition. Besides improved overall productivity, biochar is also gaining considerable popularity in livestock farming as an animal feed. Owing to the surge in the food industry, the agriculture industry is expected to increasingly adopt biochar as the forecast period unfolds. On the other hand, financial barriers in a number of emerging economies and the lack of consumer awareness are a few hindrances faced by the global biochar market.
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