The Asia Pacific Wood Vinegar Market is worth USD 1.32 Billion in 2022 and estimated to grow at a CAGR of 6.85 %, to reach USD 1.84 Billion by 2028. The Asia Pacific Wood Vinegar market is developing at an exceptionally quick pace.
Wood vinegar is a natural substance which is extracted from wood and is also known as pyroligneous acid or liquid smoke. Wood vinegar is also a biodegradable and non-toxic material that is used in animal feeds and agriculture, and considered as a good option for organic farming. Wood vinegar aids in stimuLating plant & fruit growth, reduce odor, enriches soil fertility, prevents pests, weeds, roots from rotting and enhance seeds for germination. Wood vinegar is produced via the process of carbonization, in which the wood is heated in an airless container.
Drivers and Restraints:
The significant drivers for Wood Vinegar are improved crop yield, increasing government initiative for bio-based products, increasing base of end-use industries, stringent environment regulations etc. Also surge in use of wood vinegar the applications in agricultural practices such as increased disease resistance in plants, improved seed germination, soil enrichment and root growth stimulation. Limited manufacturers for the production of wood vinegar and stringent policies limits this industry.
Asia Pacific Wood Vinegar Market Segmentation Analysis:
The Asia Pacific market for Wood Vinegar is segmented on the basis of pyrolysis method, application and region. Based on pyrolysis method, the market is segmented into Slow Pyrolysis, Fast Pyrolysis, and Intermediate Pyrolysis. Fast and intermediate pyrolysis method of wood vinegar production is mainly used by domestic producers in small scale where in slow pyrolysis is used by small as well as large manufacturers for higher yield of the products. Based on application, the market is segmented into Agriculture, Animal Feed, Food, Medicinal, and Consumer Products.
Asia Pacific is geographically segmented into China, India, Japan, South Korea, Taiwan, Australia and South East Asia. China and India are likely to increase the market because of huge population. Also Asia Pacific is largest growing segment.
Key Players in the Market:
Canada Renewable Bioenergy Corp., Nettenergy BV (Netherlands), ACE (Singapore) Pte Ltd, TAGROW CO., LTD. (China), and Byron Biochar (Australia). are the leaders in the Asia Pacific Wood Vinegar market.
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