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Type: PDF
Status: Syndicate
Categories: Chemical
Report Code : CH23
No. of Pages : 150
Biochar is a type of charcoal extracted by controlled heating of waste Technology’s, such as agricultural waste, forest waste, wood waste and animal manure. Among all the end uses, it is mostly used in a soil amendment to minimize pollutants and toxic elements and to avoid reducing moisture level, soil leaching and fertilizer runoff. Key factors which are projected to foster the growth of the biochar market in the forecast period are the increase in the presence of large-scale manufacturers and the environmental guidelines.
The global Biochar market in 2023 was approximately USD 1.6 Million. The market is expected to grow at a CAGR of 13.5 % and is anticipated to reach around USD 3.5 Billion by 2030. Moreover, the several benefits provided by biochar are further driving the growth of the biochar market. Additionally, the capability to increase the soil fertility and plant growth is further predicted to supplement the growth of the biochar market.
The use of biochar in the water treatment process is projected to be another key application in near future supported by escalating demand for water treatment facilities, specifically in developing economies. However, the lack of knowledge about the product will hamper the market.
The market for biochar is intensely competitive and is highly fragmented. The vendors in the Biochar market compete based on product portfolio, product differentiation, applications, and the pricing of products. The rise in technological innovations in designing the products for better quality, ease of use and better performance is expected to continue to intensify the level of competition among the companies to expand their product portfolios by incorporating innovative features, into their product.
Key players in the market are DRT, Rosin Chemical, Yunfu Shengda, Arakawachem, Finjet Chemical Industries, Guilin Songquan Forest Chemical, Shenzhen Jitian Chemical.
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