Global Biochar Market Size, Share, Development, Growth and Demand Forecast to 2023 By P&S Market Research
The global biochar market is estimated to be valued at $4.27 million in 2015, and it is expected to grow with a CAGR of 17.1% during 2015 - 2023. The factors driving the growth of the global market include improved soil fertility and crop yield, natural carbon sequestration property of biochar, increased government initiatives and stringent environmental regulations, and waste management potential. The increased government initiatives and stringent environment regulations are the key drivers for the growth of the global market. The increasing environment pollution, deforestation, and global warming caused by the usage of fossil fuels have created demand for biochar. The governments of various countries across the globe have initiated several projects and schemes to promote and encourage its usage.
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Similarly China, India, Brazil and several
other countries in Europe are framing regulations to support biochar
initiatives. Additionally, Biochar production result in efficient management of
agricultural waste and other organic waste; while it reduces waste disposal costs and adds a
new source of revenue generation. The increasing organic waste across the world
is an indication of overconsumption, which results in polluted landfills and
waterways, thus biochar production offers a better solution for this problem.
Several companies, institutes, and non-profit organizations are actively
involved in the research and development for sustainable waste management
initiatives.
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Geographically, the North American market is
estimated to hold the largest share in the global biochar market in 2015. The
North American market is growing mainly due to the increased demand for
agricultural products and improved soil fertility and crop yield. The quality
and texture of soil in North America is continuously degrading, due to the
continuous usage of chemical fertilizers, deforestation, mining and aggressive
agricultural practices. This has created a high negative impact on the
productivity of agricultural products. Biochar reduces nitrogen leaching into
ground water; moderates soil acidity; increases water retention capability of
soil; and increases the number of beneficial soil microbes. The distinct
government and non-government organizations in North America are framing regulations
and guidelines to improve soil quality and crop yield, which is propelling the
advanced research and development for Biochar.
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The agricultural segment is
witnessing significant growth among the various applications segments of the
global biochar market, owing to the its benefits in enhancing soil quality and
crop yield. The decreasing agricultural land per capita and degrading soil
quality due to the continuous usage of chemical fertilizers are supporting the
demand of biochar in the agricultural application.
TABLE OF CONTENT
Chapter
1. Research Scope
& Methodology
Market Definition
Market Scope
Biochar market breakdown by application
Biochar market breakdown by feedstock
Chapter 2. Executive Summary
Key Findings
Chapter 3. Market Outlook
Introduction
Opportunities in the Biochar Market
Contribution of biochar to low carbon
food chain
Land constraint and degrading soil
quality
Chapter 4. Global Biochar Market Size and Forecast (2014 – 2023)
Global Biochar Market Breakdown by
Application
Gardening
Agriculture
Household
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