The global biochar market is expected to grow at a CAGR of 17.1%, during the period 2015 – 2023.The global reported an estimated value of $4.27 million in 2015. As per the latest findings, it may record a CAGR of 17.1%, during 2015 – 2023. Majorly, the market is witnessing a leap owing to improved soil fertility, natural carbon sequestration feature of biochar, waste management potential, and increased government initiatives. Stringent environmental regulations also act as a major driver for the growth of the global biochar market.
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Among all other applications, agricultural segment is witnessing a strong growth rate in the global biochar market, since biochar helps improve soil quality and crop yield. Chemical fertilizers are largely used in agriculture, which lead to decline in agricultural land per capita as well as in soil quality. To address this issue, biochar is remaining high in demand. As per the research, forestry waste is estimated to be the largest segment by feedstock.
North America was geographically the largest biochar market. Due to growing demand for agricultural products and enhancement in soil fertility and crop yield, the North American market for biochar has been witnessing significant growth. This region reports continuous use of chemical fertilizers, along with mining and deforestation, which results in degradation of its soil quality and texture. The same drives the demand for biochar, which leads to growth of North American biochar market. The reason behind the same is the potential of biochar to moderate soil acidity and reduce nitrogen leaching into ground water.
Government and non-government organizations in North America as well as other countries, such as India, China, Brazil, and several European countries are framing guidelines for improvement of soil quality. This demands advanced research and development for biochar.
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Production of biochar helps efficiently manage agricultural and other organic waste, which is the cause of polluted waterways and landfills. Also, it helps in cutting cost of waste disposal. Hence, biochar is a better choice over charcoal produced from forest fires, which release harmful gases in the atmosphere.
Several factors are helping the biochar market to grow worldwide. However, the high cost of biochar acts as a major restraint for the market, uncovers the research. Farmers find it difficult to afford biochar for agricultural practices. This is expected to have a negative impact on the biochar market, especially in developing or underdeveloped economies.
Among all other applications, agricultural segment is witnessing a strong growth rate in the global biochar market, since biochar helps improve soil quality and crop yield. Chemical fertilizers are largely used in agriculture, which lead to decline in agricultural land per capita as well as in soil quality. To address this issue, biochar is remaining high in demand. As per the research, forestry waste is estimated to be the largest segment by feedstock.
North America was geographically the largest biochar market. Due to growing demand for agricultural products and enhancement in soil fertility and crop yield, the North American market for biochar has been witnessing significant growth. This region reports continuous use of chemical fertilizers, along with mining and deforestation, which results in degradation of its soil quality and texture. The same drives the demand for biochar, which leads to growth of North American biochar market. The reason behind the same is the potential of biochar to moderate soil acidity and reduce nitrogen leaching into ground water.
Government and non-government organizations in North America as well as other countries, such as India, China, Brazil, and several European countries are framing guidelines for improvement of soil quality. This demands advanced research and development for biochar.
Request For Sample Pages: https://www.psmarketresearch.com/market-analysis/biochar-market/report-sample
Production of biochar helps efficiently manage agricultural and other organic waste, which is the cause of polluted waterways and landfills. Also, it helps in cutting cost of waste disposal. Hence, biochar is a better choice over charcoal produced from forest fires, which release harmful gases in the atmosphere.
Several factors are helping the biochar market to grow worldwide. However, the high cost of biochar acts as a major restraint for the market, uncovers the research. Farmers find it difficult to afford biochar for agricultural practices. This is expected to have a negative impact on the biochar market, especially in developing or underdeveloped economies.
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