The granular biochar market size was valued at US$ 68,789.87 thousand in 2022 and is expected to reach US$ 172,103.82 thousand by 2030; it is estimated to register a CAGR of 12.1% from 2022 to 2030.
Granular biochar, a carbon-rich material derived from organic waste through a process called pyrolysis, is experiencing a surge in market growth due to its versatile applications. There has been a rising preference for granular biochar due to its various benefits. As a soil amendment, granular biochar enhances water retention and nutrient absorption, reducing the need for synthetic fertilizers. Granular biochar helps in solving various problems simultaneously. It plays an important role in sequestering carbon and mitigating climate change. Granular biochar production is a carbon-negative process, as it reduces CO2 in the atmosphere. The process by which granular biochar is produced helps sequester a billion tons of carbon annually and hold it in the soil for thousands of years, where it is most beneficial. The heat energy generated during the production of granular biochar can potentially be used as a replacement for fossil fuels. Granular biochar contributes to mitigating climate change by enriching the soils and lowering the need for chemical fertilizers, lowering greenhouse gas emissions. Biochar also helps limit nitrous oxide (N20) and methane (CH4) emissions from agricultural soils. Nitrous oxide and methane are the greenhouse gases that contribute to climate change. Various benefits of granular biochar for the climate and agricultural systems make it a promising tool for regenerative agriculture. All these advanced benefits of granular biochar are mainly driving the market growth.
On the basis of product type, the granular biochar market is segmented into wood source biochar, corn and wheat source biochar, and others. The global granular biochar market share for the corn and wheat source biochar segment was the largest in 2022, and the wood source biochar segment is expected to register a higher CAGR from 2022 to 2030. Wood source biochar, also known as wood-based charcoal, is produced by slow pyrolysis of hardwood biomass such as eucalyptus, sawdust, pine bark, sugarcane bagasse, and other substances that are rich in nutrients. The production of wood-sourced biochar typically involves heating the woody biomass at high temperatures in a controlled environment, releasing volatile compounds, and creating a porous and carbon-rich structure. The resulting biochar product retains some of the carbon initially present in the wood, providing it with a stable and long-lasting form.
The market is segmented into five main regions-North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. Asia Pacific held the largest revenue share of the market in 2022. The expanding agriculture sector in countries like China and India is driving increased usage of these granular biochar. Furthermore, an increase in agricultural production in the Japan would support the growth of the granular biochar market, as granular biochar plays a vital role in advancing agricultural technology expertise, as it is applied in the fields to provide food security in Japan. With the application of granular biochar, the productivity of crops improves. There are several worries over agricultural sustainability in Japan, including forecasts such as water scarcity issues by 2030. Concerning this, a digital farming technology has been developed in the country, which utilizes the Internet of Things and artificial intelligence for collecting and analyzing data from farming practices, and thus, helps in defining the best farming methods. This provides opportunities for the granular biochar market, as the researchers can provide the best way to use granular biochar to enhance productivity in Japan.
Impact of COVID-19 Pandemic on Granular Biochar Market
During the COVID-19 pandemic, the granular biochar market faced a mixed set of challenges and opportunities. The disruptions in global supply chains, logistical constraints, and economic uncertainties impacted various industries, including the biochar market. Supply chain interruptions and shifting priorities of businesses and consumers led to a temporary shutdown in the demand for granular biochar. However, amid the challenges, notable trends supported the granular biochar market during the pandemic. The increased focus on sustainable and resilient agricultural practices gained prominence as communities recognized the importance of food security. This awareness prompted some farmers to continue adopting biochar to enhance soil fertility and mitigate the environmental impact of traditional farming methods. In addition, in 2021, industries gained momentum as the governments of various countries eased out the previously imposed restrictions. Moreover, the introduction of the COVID-19 vaccine eased the situation, leading to a rise in business activities across the globe. The increasing demand for granular biochar from various industries, such as agriculture and water & wastewater treatment, is anticipated to drive granular biochar market growth in the coming years.
Global Granular Biochar Market Breakdown - by Region
The report includes the segmentation of the global granular biochar market as follows:
The global granular biochar market is segmented on the basis of material and end use. Based on product type, the granular biochar market is segregated into wood source biochar, corn and wheat source biochar, and others. In terms of application, the market is divided into soil conditioner, fertilizer, and others. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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