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Tuesday Jul 17, 2018
Tuesday Jul 17, 2018
The Global Biochar Market size was estimated at 353.4 kilo tons in 2017 and is expected to reach US $3,146.1 Million by 2025, according to a new report by Grand View Research, Inc.
Biochar is an emerging industry and the product is at its nascent stage. The product is expected to be a key factor for increasing agricultural productivity and crop yield in the near future. Its ability to enhance soil fertility and plant growth is expected to be a key factor on account of growing global population and rising demand for organic food. Agriculture was the largest product category in 2017 and is expected to grow substantially over the forecast period. Farming was the major application segment in agriculture with a share of over 51.8% in 2017.
Key players including Diacarbon Energy Inc, Vega Biofuels Inc. and Agri-Tech Producers, LLC have invested heavily in gasification technology and are expected to expand their production facilities over the forecast period. The market has also witnessed an increase in the number of pyrolysis equipment manufacturing companies such as Earth Systems and Clean Fuels B.V. In April 2014, Phoenix Energy announced construction of a biomass gasification facility in California, in order to strengthen its business presence.
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