Market Research Report
Biochar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026
|Biochar Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026|
Published: June 15, 2021
IMARC Services Private Limited
Content info: 109 Pages
Delivery time: 2-3 business days
The global biochar market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 10% during the forecast period (2021-2026). Biochar refers to the fine-grained biomass obtained by burning wood, animal manure, forest waste and other agricultural by-products in a limited oxygen environment. It is a porous substance that can retain water and nutrients in the soil for absorption by plants. Biochar primarily reduces soil leaching, pollution levels and toxic elements in the ground and increases soil carbon sequestration. Considering the long-term results, biochar can significantly reduce the atmospheric greenhouse effect, while improving water quality and agricultural productivity.
The growing agriculture industry is one of the key factors driving the global biochar industry. Increasing preference for natural and organic food products, along with a growing need for enhancing soil fertility and crop growth, is contributing significantly to the demand for biochar in the agriculture sector. In addition to this, organic farming practices are widely gaining preference as a means of sustainable development and are considered to bridge the substantial demand and supply gap of food products across the globe. Furthermore, biochar is rapidly being utilized in other farming practices, including zero tillage farming, biodynamic agriculture and mixed farming, which is significantly impacting the market growth. The rising urbanization in emerging nations has positively impacted the acceptance of biochar as an appropriate substitute for chemical fertilizers. Apart from this, the use of biochar for insulation in the construction industry, for energy storage in supercapacitors, manufacturing food packaging material and as a feed supplement and air-purifying agent, is catalyzing the overall industry growth. Other factors, such as extensive research and development (R&D) and the implementation of favorable government policies to encourage biochar usage in order to increase the land productivity, are projected to further drive the market in the coming years.