NORTH AMERICA BIOCHAR MARKET 2022-2028

NORTH AMERICA BIOCHAR MARKET 2022-2028

MARKET OUTLOOK
A study by Triton Market Research states that North America’s biochar market will develop with a CAGR of 12.19% in revenue terms and 9.43% in volume terms for the forecast duration from 2022 to 2028. The United States and Canada together comprise the biochar market in the North American region.
It is estimated that, in Canada, around 20% of the total average area of a forest burnt every year, could be converted to biochar. This can be done by enlarging the fire corridors, which will help achieve a similar ecological impact, as of an area burnt naturally. But, this would require fixing biomass carbon, instead of releasing it into the atmosphere, either as an immediate release, or a slow one, due to the dead biomass decay. This amounts to biomass worth 222 Mt per year, representing 82% of the total target biomass that can fully offset the current GHG emission levels in the country.
The availability of a huge amount of forestry waste is the main reason driving the biochar market growth in the country. Initiatives taken by various organizations, like Alberta Biochar, Canadian Biochar, Biochar Quebec, and Biochar Ontario, are focused on developing biochar as a tool to mitigate GHG emissions and improve soil fertility, aid waste management, and increase revenue generation. Further, efforts made towards commercializing and marketing biochar are also expected to increase standardization for biochar manufacturing.

COMPETITIVE OUTLOOK
Anulekh Agrotech Pvt Ltd, Novo Carbo, Carbons Finland Oy, Farm2energy, Air Terra, Pacific Biochar, Carbofex, and Bioenergy Earth Systems are some of the prominent names operating in the biochar market.