The biochar market has garnered USD 2.0 billion in 2021, and it is projected to rise at the rate of 10% from 2022 to 2030, as per the report by market research company, P&S Intelligence. mainly because of the growing manufacturing of this material. As per the European Biochar Industry Consortium, in 2020 around 21,000 tons of biochar were made in Europe.
Other aspects boosting the utilization of the product are the increasing knowledge regarding its profits for the atmosphere, low price of the raw materials, and government guidelines that aid in sustainable waste management and environmental safety. Moreover, it is being progressively utilized in the production of electricity and livestock feeding.
The majority of the biochar manufactured throughout the world is projected to be utilized in farming. Thus, this application is projected to hold above 70% biochar industry share by value in 2030. As there is no requirement for added processing, this item can be mixed with nutrients and utilized as a soil conditioner.
It has been constantly utilized in farming over centuries as an essential added component of the soil organic matter; holding for up to 30% of the organic matter in fertile soil currently. Moreover, the bulk density, soil surface area, penetration resistance, aggregate stability, and moisture content are all enhanced by biochar.
Woody biomass has been the utmost-extensively used feedstock in the industry. on the basis of source, this category is projected to develop with a CAGR of approximately 10% in the coming few years. Woody biomass comprises minimal quantities of sulfur and heavy metals and its particulate matter releases are manageable. Moreover, it is a comparatively cheaper raw material for the manufacturing of biochar.
North America and Europe had approximately 70% of the share in the worldwide biochar market. The growing biochar-making capacity, in part, because of the robust government funding for it, is leading to its easy obtainability and high-size consumption.
For instance, the Tierpark in Berlin, Germany, one of the biggest landscaped animal parks in Europe, is involved in a project reinforced by the European Commission that finances the biochar technology to advance the carbon footprint of its waste management system. In the same manner, Lund in Sweden is spending on it as part of its biological waste management strategy and using it as a soil modification material for the municipality’s trees and redesigned areas.
