Organic food is witnessing high demand over the last few years due to rising health concerns and lifestyle choices. The use of biochar for soil enhancement has its own benefits, such as increased carbon content, fertility, yield and nutrition to the crop. Biochar usage improves the overall productivity, and can be used as animal feed as well. Biochar is produced using contemporary processes of pyrolysis, and involves thermal decomposition of biowastes. Biochar may also be obtained through processes such as microwave pyrolysis and gasification.
A report published by Transparency Market Research forecasts that the global biochar market is predicted to showcase a tremendous growth during the forecast period 2017 to 2025. The industry is set to witness a multitude of opportunities on account of the rising demand for soil enhancement and its applications dependent on the same. Biochar prevents leeching of soil, maintains its moisture, and controls fertilizer runoff. It is known to provide protection to crops during draughts and floods. Utilization of biochar is expected to aid in sustaining the environment by reutilizing agriculture wastes and reducing air pollution. Recently, the UNK Summer Student Research Program funded an independent study by Joey Haag, to prove the utility of biochar for boosting the bacterial diversity of soil and productivity of the crop.
Q: What could be the pivotal driving forces of the worldwide biochar market?
A: With the changing lifestyle and rising awareness of the health advantages of fertilizer free products, the world is moving toward organic food products. This is anticipated to be one of the vital factors providing traction to the world biochar market. There has been a rising interest in soil enhancement owing to a number of reasons. The benefits of waste management, regulations regarding soil preservation, increasing environment sustainability concerns and growing investments in bio-fuels could prove to be substantial factors leading to market upswing.
The lack of awareness of consumers toward benefits of biochar usage over chemical fertilizers could be a key factor hampering the growth of the industry. Production of high quality biochar requires capital and thus, the market could still see some potential. However, the market is predicted to witness the realization of it complete potential over the forecast duration, and may overcome the minor restraints over the period.
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Q: Which regions are expected to be leading market performers?
A: TMR classifies the international biochar market geographically into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia Pacific is prognosticated to be the fastest growing region, on account of emerging economies of India, China and Japan witnessing high demand of biofuels, and lower costs of biochar. North America is predicted to the dominant market share holder in terms of revenue, due to increased carbon sequestration and interest in soil amendment.
Some of the key players of the global biochar market are Pacific Biochar, Vega Biofuels, Inc., CharGrow LLC, Earth Systems Bioenergy, and Phoenix Energy.