Biochar Market To Reach USD 1,021.9 Billion By 2032, Says DataHorizzon Research

The biochar market size was valued at USD 363.7 Billion in 2023 and is expected to reach a market size of USD 1,021.9 Billion by 2032 at a CAGR of 12.2%.

Fort Collins, Colorado, May 06, 2024 (GLOBE NEWSWIRE) —

The growing need for sustainability and agricultural demand drives industry growth.

The rising global population and the imperative for sustainable agricultural practices are propelling the demand for biochar in the market. Biochar, a carbon-rich material derived from biomass pyrolysis, holds the potential to enhance soil fertility, boost crop yields, and mitigate greenhouse gas emissions. With projections from the United Nations indicating a population surge to 9.7 billion by 2050 and a corresponding 70% increase in food demand, there is a pressing need for resilient agricultural production systems. Biochar emerges as a promising solution, given its capacity to sustainably enhance soil health and crop productivity, aligning with the escalating demand for food.

Governments worldwide increasingly acknowledge biochar’s role in advancing sustainable agriculture and addressing climate change concerns. Many nations have instituted policies and funding initiatives to bolster the development and adoption of biochar technologies, underscoring its significance in fostering agricultural sustainability on a global scale.

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Segmentation Overview:

The biochar market has been segmented into technology, application, and region.

Agriculture registered massive growth in 2023

  • Based on application, the biochar market is segmented into agriculture, animal farming, industrial, and others uses. Agriculture holds a substantial share of the application segment of the biochar market. Biochar has gained significant attention in the agricultural sector due to its ability to improve soil fertility, increase water retention, and enhance crop yields. 

Pyrolysis is a fast-growing segment in the forecast period.

  • Based on technology, the biochar market is segmented into pyrolysis, gasification, and others. Pyrolysis holds a significant share of the technology segment. Pyrolysis is a well-established and widely used method for producing biochar, as it is a relatively simple and efficient method and can be adapted to various feedstocks. The process involves heating biomass in the absence of oxygen, which leads to the formation of biochar, bio-oil, and syngas. 

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Biochar Market Report Highlights:

  • The biochar market growth is anticipated at a CAGR of 12.2% by 2032.
  • Biochar is produced from various feedstocks, including wood waste, agricultural residues, and animal manure.
  • North America holds a significant share of the biochar market, with the United States dominating this region.
  • Some prominent players in the biochar market report include Agri-Tech Producers LLC, Biochar Industries, Biochar Products Inc., Bioforcetech Corporation, Cool Planet Energy Systems Inc., Diacarbon Energy Inc., Genesis Industries LLC, Pacific Biochar Benefit Corporation, Phoenix Energy, The Biochar Company, Vega Biofuels, Inc., Waste to Energy Solutions Inc., 

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About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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Mail: sales@datahorizzonresearch.com

Ph: +1-970-672-0390

Website: https://datahorizzonresearch.com/

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CONTACT: Mail: sales@datahorizzonresearch.com Ph: +1-970-672-0390 Website: https://www.datahorizzonresearch.com 

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