PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104513
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104513
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Global Biochar Market to Reach $2.3 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Biochar estimated at US$992.2 Million in the year 2020, is projected to reach a revised size of US$2.3 Billion by 2027, growing at a CAGR of 12.6% over the analysis period 2020-2027. Woody Biomass, one of the segments analyzed in the report, is projected to record a 11.7% CAGR and reach US$1.1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Agricultural Waste segment is readjusted to a revised 14.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $293.9 Million, While China is Forecast to Grow at 16% CAGR
The Biochar market in the U.S. is estimated at US$293.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$292 Million by the year 2027 trailing a CAGR of 16% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.1% and 11.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.1% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$222.3 Million by the year 2027.
Animal Manure Segment to Record 13.8% CAGR
In the global Animal Manure segment, USA, Canada, Japan, China and Europe will drive the 13.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$107.3 Million in the year 2020 will reach a projected size of US$257.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 14.7% CAGR through the analysis period.
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