Report : Asia-Pacific Granular Biochar Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Wood Source Biochar, Corn and Wheat Source Biochar, and Others) and Application (Soil Conditioner, Fertilizer and Others)
At 12.0% CAGR, the APAC Granular Biochar Market is speculated to be worth US$ 1,06,722.46 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the APAC granular biochar market was valued at US$ 53,994.08 million in 2022 and is expected to reach US$ 1,06,722.46 million by 2028, registering an annual growth rate of 12.0% from 2022 to 2028. Rising benefits of granular biochar and increasing use of granular biochar in agriculture are the critical factors attributed to the market expansion.
There has been a rising preference for granular biochar due to its various benefits. 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 contrary, presence of contaminants in granular biochar hurdles the growth of APAC granular biochar market.
- Based on product type, the APAC granular biochar market is segmented into wood source biochar, corn and wheat source biochar, and others. The corn and wheat source biochar segment held 53.0% market share in 2022, amassing US$ 28,641.64 million. It is projected to garner US$ 56,425.76 million by 2028 to expand at 12.0% CAGR during 2022–2028.
- Based on application, the APAC granular biochar market is segmented into soil conditioner, fertilizer, and others. The fertilizer segment held 45.2% market share in 2022, amassing US$ 24,429.67 million. It is projected to garner US$ 48,086.46 million by 2028 to expand at 11.9% CAGR during 2022–2028.
- Based on country, the APAC granular biochar market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. Our regional analysis states that China captured 52.5% market share in 2022. It was assessed at US$ 28,351.63 million in 2022 and is likely to hit US$ 57,505.33 million by 2028, exhibiting a CAGR of 12.5% during the forecast period.
Key players dominating the APAC granular biochar market are Advanced Renewable Technology International; Arsta Eco Pvt. Ltd.; Green Man Char; and Pyreg GmbH among others.
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