Published on : Feb 25, 2016
The global biochar market is projected to expand at a healthy rate in the coming few years. One of the key opportunities that is expected to benefit companies operating in this market is the possibility of introduction of carbon credits that will drive the usage of biochar. To finance biochar, incentives may be required from governments to allow it to become eligible for carbon credits.
Global Biochar Market Driven by Growing Application of Biochar in Waste Management
The rising use of biochar in the waste management sector is projected to significantly drive the global biochar market. Biochar is a sustainable solution for waste management and effective soil amendment. It offers viable and long term management of waste. Furthermore, the enhanced soil fertility coupled with the food security potential of biochar will also substantially drive the global biochar market.
Carbon Sequestration to Boost Global Biochar Market
Another trend that is expected to boost the global biochar market is the carbon sequestration property of biochar. This property delivers significant environmental benefits. Carbon sequestration is the long term storage of carbon dioxides along with other forms of carbon to defer or mitigate global warming and also to avoid dangerous climate change.
Financial Constraints to Suppress Global Biochar Market
Although the global biochar market is driven by the aforesaid factors, it will be challenged by several key factors. The lack of consumer awareness regarding the benefits of biochar will pose a key challenge to the global biochar market. In addition to this, technological uncertainty will also hinder the production capacity of the global biochar market. Moreover, financial constraints will also challenge the global biochar market. Presently, the cost of biochar is too high for consumers and hence it is sold generally in the form of affordable biochar fertilizer complexes.
The key players operating in the global biochar market are BioChar Products, Cool Planet Energy Systems, CharGrow, Genesis Industries, Tolero Energy, and Three Dimensional Timberlands. These companies cater to various application segments. The key application areas in the global biochar market are gardening, household, and agriculture (large farms). Majorly, biochar is used as a soil enhancer in applications such as gardening and agricultural large farms.