The North America Biochar Market was worth USD 390 million in 2016 and estimated to be growing at a CAGR of 14.3%, to reach USD 760 million by 2021. Biochar is a type of charcoal which is rich in carbon and fine-grained which is obtained by heating organic mass in the absence of oxygen. It is mostly used as a soil additive as it enhances the soil quality which leads to larger growth of plants. The high growth rate of this market can be attributed to decreasing soil quality due to excessive use of chemical fertilisers and increasing food demand.
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Biochar enhances the soil quality by the addition of rich minerals and nutrients. It also offers other advantages like retaining carbon from the atmosphere. It can be used as a solution for absorbing the greenhouse gas CO2 responsible for global warming. It can retain nutrients from flowing water in the soil water. While producing biochar, it generates energy which can be used for other purposes. It also absorbs water from the atmosphere and prevents soil leeching.
The North America Biochar market is driven by factors like agricultural sector demanding more of biochar, increasing usage of biochar in livestock as animal feed, rising demand for organic farming, rigorous environmental regulations and its usefulness in waste management among others. A few constraints that this market is facing are its high prices and lack of awareness. However, the awareness about it seems to be increasing rapidly.
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The North America Biochar market is segmented by application into agriculture, gardening, households and others. Agriculture dominates the market having the largest market share of around 45% and is also the fastest growing segment. By technology, the market is divided into microwave pyrolysis, continuous pyrolysis, batch pyrolysis kiln, gasifier, hydrothermal, cook stove and others. By manufacturing the market is segmented into gasification, pyrolysis and others. Biochar is mostly produced by pyrolysis, hence it has the largest market share in this segment. By feedstock the market is divided into agricultural waste, forestry waste, animal manure and biomass plantations.
The North America market for Biochar is geographically segmented into United States, Canada and Mexico. The North America Biochar market is the largest in world accounting to around 34%. United States has the largest market share in this region. The demand in this region is rising primarily because of required enhancement in soil fertility and growing demand for agricultural products.
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Some of the major companies dominating the North America Biochar market are Biochar Products Inc., Diacarbon Energy Inc., Agri-Tech Producers LLC, Genesis Industries, Green Charcoal International, Vega Biofuels Inc., The Biochar Company, Cool Planet Energy Systems Inc., Full Circle Biochar, and Pacific Pyrolysis Pty Ltd.
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