Pune, India, April 13, 2023 (GLOBE NEWSWIRE) -- The global biochar market size was USD 149.2 million in 2020. As per the report, the market is expected to grow from USD 164.5 million in 2021 to USD 365.0 million by 2028 at a growth rate of 12.1% in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Biochar Market, 2021-2028.” According to our researchers, this char is utilized expansively in a soil amendment to increase pollutants and poisonous elements and also to avoid dropping moisture levels, fertilizer runoff, and soil leaching. Consequently, its wide use is likely to bolster its demand during the forecasted period.
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Biochar Market Scope:
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 12.1 % |
| 2028 Value Projection | USD 365.0 million |
| Base Year | 2020 |
| Market Size in 2021 | USD 164.5 million |
| Historical Data for | 2017-2019 |
| No. of Pages | 170 |
| Segments covered | Technology, Application, Region |
| Growth Drivers | Rising Government Policies for Environmental Protection to Boost Market Growth |
| Growing Utilization of Biochar for Livestock Feed to Propel Market Growth |
Drivers & Restraints:
Advantages of Grid-Scale Battery Adoption to Propel Market Growth
Benefits of energy storage include growing resilience and reliability and integration of diverse resources. Grid-scale batteries also provide arbitrage facility. For the record, arbitrage refers to charging the battery when prices are low and discharging it when they are high. It helps Battery Energy Storage System (BESS) operators to make higher revenue. Moreover, BESS operators can use load balancing to enlarge profit margins. These advantages of adopting grid-scale batteries will boost market proliferation.
On the other hand, fragility of lithium-ion and quick aging and degradation of lithium-ion batteries will hinder the grid-scale battery market growth in the coming years.
COVID-19 Impact:
COVID-19 Pandemic to Majorly Impact Power Projects due to Stringent Government Norms
The government across several nations had to enforce nationwide lockdowns & numerous limitations in the wake of the COVID-19 pandemic. The supply chain got interrupted and the government has also executed travel and transportation prohibitions. Numerous biochar projects were delayed and prime industries were also shut around the world that has dropped demand for power across the globe. The agriculture segment has unfavorable impacts owing to the pandemic, which further deteriorated this market.
To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/biochar-market-100750
Regional Insights
Asia Pacific has led the global market in 2020. The latent importance of the region in soil improvement and carbon sequestration is the prime navigating force behind this sector.
North America held the second-largest biochar market share across the world and is likely to see significant expansion due to the rising demand for organic food and high meat consumption.
Europe is another primary region for this market. The market is extending owing to the plenty of forestry excess in Europe.
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Competitive Landscape
Crucial Companies Engage in Pivotal Contracts to Promote Market Growth
The fundamental players in the market incessantly root for effective tactics to bolster their brand value as well as endorse the global biochar market growth of the product with facing least imaginable hurdles. One such operative policy is getting involved in fundamental agreements and further fortifying a profit for both the companies.
Industry Development
July 2021: Standard Biocarbon Corporation and PYREG GmbH of Germany engaged in a supply and exclusive contract. The collaboration presents Pyreg's state-of-the-art biochar pyrolysis technology in the Northeastern U.S. and Eastern Canada.
List of Key Players Covered in the Report
- Airex Energy Incorporation (Canada)
- BSEI (U.S.)
- 3R Enviro Tech Group (India)
- Carbonis GmbH & Co. KG (Germany)
- Farm2Energy (India)
- Terra Humana Ltd (Poland)
- Tolero Energy LLC (U.S.)
- Oregon Biochar Solutions (U.S.)
- TerraChar (U.S.)
- Green Man Char (Australia)
- CharGrow (U.S.)
- American Biochar Company (U.S.)
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Table of Content:
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Latest Technological Advancement
4.3. Regulatory Landscape
4.4. Porters Five Forces Analysis
5. Qualitative Analysis – Impact of COVID-19
5.1. Impact of COVID-19 on the Biochar Market
5.2. Steps Taken by the Government to Overcome the Impact
5.3. Key Developments in the Industry in Response to COVID-19
5.4. Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global Biochar Market Analysis (USD Million) (Tons), Insights and Forecast, 2017-2028
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Technology
6.2.1.Pyrolysis
6.2.2.Gasification
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1.Farming
6.3.2.Livestock
6.3.3.Power Generation
6.3.4.Others
6.4. Market Analysis, Insights and Forecast – By Region
6.4.1. North America
6.4.2. Europe
6.4.3. Asia Pacific
7. Rest of the World
7.1. Company Market Share Analysis, 2021
7.2. Company Profile
7.2.1. Samsung SDI CO.,LTD.
7.2.1.1. Business Overview
7.2.1.2. Product & Service Offering
7.2.1.3. Overall Revenue
7.2.1.4. Recent Development
Continued…
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