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North America Granular Biochar Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type and Application

North America Granular Biochar Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type and Application

  • November 2022
  • 84 pages
  • ID: 6368987
  • Format: PDF
  • The Insight Partners

Summary

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The granular biochar market in North America is expected to grow from US$ 11,229.84 million in 2022 to US$ 21,130.56 million by 2028. It is estimated to grow at a CAGR of 11.1% from 2022 to 2028.

Rising Benefits of Granular Biochar

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.

Market Overview

The granular biochar market in North America is growing due to increase in population and government subsidies, strong economies, robust food safety nets, and agricultural finance systems.With the increasing population in the region, the demand for fertilizers to boost crop productivity is increasing.

Granular biochar is widely used in fertilizers to improve nutrient content and water holding capacity.Further, as per the reports of the US Department of Agriculture (USDA), North America is the highest-ranking region for food affordability.

In 2020, the contribution of agriculture to the US gross domestic product (GDP) was more significant than 0.6% because agricultural sectors rely on agricultural inputs to contribute added value to the economy. With the increase in agricultural production in the region, the demand for granular biochar is increasing. Granular biochar is also beneficial in improving environmental sustainability. North America promotes the practice of balancing the growth of the agricultural sector with other sectors of the economy. The growth of the agriculture industry in the region is achieved by using organic fertilizer and granular biochar produced by pyrolysis or thermal decomposition of organic matter in an oxygen-starved chamber. When compared to other synthetic fertilizers, awareness about the benefits of biochar is very high. Further, the increasing knowledge among the farming community about the benefits of products such as granular biochar helps in maintain soil fertility, acidity and nutrient value content will drive the demand for granular biochar in North America.

North America Granular Biochar Market Revenue and Forecast to 2028 (US$ Million)

North America Granular Biochar Market Segmentation

The North America granular biochar market is segmented into product type, application, and country.Based on product type, the market is segmented into wood source biochar, corn and wheat source biochar, and others.

The corn and wheat source biochar segment registered the largest market share in 2022.

Based on application, the North America granular biochar market is segmented into soil conditioner, fertilizer, and others.The fertilizer segment registered the largest market share in 2022.

Based on country, the market is segmented into US, Canada, and Mexico.US dominated the market share in 2022.

Advanced Renewable Technology International; Airex Énergie Inc.; American BioChar Company; BioChar6; CharGrow USA LLC; Oregon Biochar Solutions; and Pyreg GmbH are the leading companies operating in the granular biochar market in the region.

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