Global biochar market is anticipated to witness growth owing to increasing importance of nutritional enrichment and high fertility in agriculture industry. Rising popularity of eco-friendly products on account of growing awareness towards green house emissions is anticipated to promote biochar market growth over the forecast period. Agriculture industry growth in China, India and U.S. is expected to remain a major market driver in the near future. Biochar also finds applications in eradicating organic and inorganic contaminants in waste water treatment plants. Increasing deployment of waste water treatment in industrial application is expected to play an important role in promoting biochar market demand. Rising importance of syngas in oil & gas industry for production of refining products including motor spirits, high speed diesel and super kerosene oil is anticipated to open new markets for biochar over the next six years.
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Europe is anticipated to remain one of the promising markets on account of increasing R&D expenditure meant for fertility improvement and nutritional enrichment in agriculture industry. The European Commission announced Horizon 2020 strategy, intended to promote industrial growth of eco-friendly products, is anticipated to have a positive impact on biochar market over the projected period. North America is expected to witness growth owing to regulatory trends in the U.S. towards reducing VOC emissions in industrial and agricultural applications. Rising production of oilseeds and land availability of sugarcane in Brazil is anticipated to augment biochar market demand in Latin America over the next six years.
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Biochar market was at...