Biochar Market to Cross $620.85 million Revenue by 2030

Biochar Market Overview

“The Biochar Market Predictable at $207.45 million in 2022, is estimated to increase at a CAGR of 10.80% from $259.95 million in 2023 to $620.85 million by 2030.”

Biochar, a carbon-rich biomass-based substance, is a popular method for improving soil quality. It is considered sustainable agriculture and offers significant benefits to soil and ecosystems. Biochar is an organic fertilizer with physical, chemical, and biological properties, benefiting the earth by improving soil quality.

Pyrolysis is a method used to heat biomass to create biochar, a charcoal-like material. This biochar, when combined with compost or vermicompost, helps address global issues like pollution, population growth, and climate change. Biochar releases greenhouse gases more slowly, contributing to a reduction in atmospheric CO2 levels and reducing the release of harmful pollutants.

Biochar is a sustainable farming method that reduces pesticide use, introduces organic products, and sequesters carbon by reducing soil acidity, increasing water retention, and reducing carbon emissions.

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Key Takeaways

The global market is dominated by Asia Pacific.

The market is now dominated by the pyrolysis technology category, which is predicted to continue growing between 2023 and 2030.

The market leader is the feedstock segment for agricultural waste.

The market's highest revenue share is generated by the agriculture application segment.

Market Dynamics

Growth Drivers

The Market is Likely to Be Driven by Biochar to Reduce Waste

Technological advancements have led to an increase in the use of waste materials like animal manure, forestry waste, and agricultural waste as feedstock for biochar production, which is not suitable for other purposes.

Organic wastes, despite being organic, undergo chemical reactions during consumption, posing environmental risks and making efficient waste management challenging.

Increased biochar production is expected to lead to increased waste material consumption, potentially reducing waste production and managing issues related to waste management.

Using Biochar to Reduce Atmospheric CO2 to Support Growth in Consumption

The release of excessive carbon dioxide into the atmosphere due to fossil fuel combustion and biomass degradation is causing a rise in carbon levels.

The average yearly CO2 in the atmosphere increased by 51.0% compared to pre-industrial levels in 2021, reaching 417.2 ppm, with a 2.5 ppm increase in 2022 and a constant 2.5 ppm increase in 2022.

Biochar, when applied to soil, is highly stable and can store at least 50% of the carbon from the feedstock, reducing carbon dioxide emissions. It regulates methane and nitrogen dioxide release, making it essential for addressing the growing demand for biochar due to the rise in atmospheric carbon dioxide.

Trends

Increasing Agriculture Demand

Biochar, a porous, carbon-rich material produced by biomass pyrolysis, is widely used for soil remediation and enhancement.

Biochar is a crucial agricultural supplement that enhances crop nutrition, soil fertility, and plant development by improving the physical and chemical properties of the soil.

Biochar, a type of soil amendment, can retain nutrients and fertilizer in the surface soil layers for extended periods, thereby improving crop yields and reducing the need for fertilizer, as it prevents nutrients from escaping the crop root zone.

In producing agriculture, utilizing biochar boosts yields while reducing harmful environmental effects.

Competitive Landscape of the Biochar Market

• Airex Energy Inc.
• Biochar Supreme
• Farm2Energy Pvt Ltd
• Pacific Biochar Corporation
• ProActive Agriculture
• Phoenix Energy

Recent Developments in Biochar Market

In December 2022, EVOIA announced its first product ‘AmpliFyr’ manufactured from biochar. The product is launched for soybean, corn and wheat. AmpliFyr increases the seedling root by inducing the growth of crops. 

In December 2022, an agricultural technology unit of LG Chem, Farm Hannong, launched a joint project to accelerate the popularization of biochar. 

In December 2022, Crystal Courtney from Cincinnati Parks Division invested $1.1 million in a carbon-negative biochar project. The investment aims to launch a small pilot project for biochar production. 

In December 2022, SWVA Biochar LLC, a Floyd-based biochar company, announced an investment of $2.6 million to expand its business operations by creating multiple job opportunities. The company is focused on producing products that will benefit multiple industries and the environment. 

In December 2022, a company focused on the well-being of people, Malachite Innovations Inc., announced the launch of Terra Preta. Terra Preta is a new business that produces proprietary forms of biochar for agricultural purposes. Biochar products by Terra Preta will promote the growth of the crops.  

In August 2022, a specialized carbon reduction and offsetting company, Invert Inc, published a Verra biochar methodology. The company’s head of carbon forestry, Matt Delaney, contributed to the development of this biochar methodology which states the natural ways to utilize biochar in soil and other applications. 

In May 2022, Carbon Streaming Corporation announced the signing of a strategic agreement with a subsidiary of Restoration Bioproducts LLC. This agreement supports the construction of a biochar production facility in Virginia.  

Regional Insights

The Asia Pacific region currently holds the majority of the global biochar market, which is expected to grow significantly due to the rapid growth of the agricultural sector in countries like China and India, as well as the increasing research and development efforts to create biochar products to boost agricultural production.

North America is the second-largest market for biochar products, expanding due to increasing consumer demand for organic food items. Europe is expected to see a shift due to strict environmental regulations for agricultural operations, increasing the need for biochar in the region.

The European biochar market is expected to expand due to large-scale businesses, increased R&D spending, and the introduction of new products.

Brazil and Mexico have significantly contributed to the growth of the Latin American biochar market, with regulations aimed at reducing greenhouse gas emissions expected to boost demand from various businesses. The Middle East and Africa are also experiencing consistent market expansion.

Segments Covered in the Biochar Market

Biochar Market By Feedstock

• Woody Biomass
• Agricultural Waste
• Animal Manure
• Others 

Biochar Market By Technology

• Pyrolysis
• Gasification
• Others 

Biochar Market By Application

• Agriculture
• Forestry
• Electricity Generation 
• Others

Biochar Market By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa

Frequently Asked Questions

What is the biochar market size?

Biochar Market Predictable at $207.45 million in 2022, is estimated to increase at a CAGR of 10.80% from $259.95 million in 2023 to $620.85 million by 2030.

What will be the CAGR of global biochar market?

The global biochar market is poised to grow at a CAGR of 10.80% from 2023 to 2030.

Who are the prominent players operating in the biochar market?

The major players operating in the biochar market are Airex Energy Inc., Biochar Supreme, Farm2Energy Pvt Ltd, Pacific Biochar Corporation, ProActive Agriculture, Phoenix Energy and Others.

Which are the driving factors of the biochar market?

The driving factors of the biochar market are the rising investment in the agricultural sector by governments, increasing awareness for global organic yet environmentally friendly products and rising environmental concerns.