The Middle East and Africa Biochar Market was worth USD 0.32 billion in 2021 and estimated to be growing at a CAGR of 13.7%, to reach USD 0.91 billion by 2026.
Biochar is a type of charcoal that is rich in carbon and fine-grained which is obtained by heating organic mass in the absence of oxygen. It’s used as a soil additive as it improves the quality of soil leading to better growth of plants. The rising growth rate of this market can be owed to decreasing soil quality due to increasing food demand and excessive use of chemical fertilizers.
Biochar improves the soil quality by adding rich minerals and nutrients into it. It offers other benefits like removing carbon from the atmosphere. Hence it can be used for absorbing the greenhouse gas CO2 responsible for global warming. It can absorb nutrients from percolating water in the soil. Producing biochar releases energy that can be used to power other processes. It prevents the erosion of soil and absorbs water from the atmosphere into the soil.
Middle East and Africa Biochar Market Drivers:
The Middle East and Africa Biochar market are driven by factors like rising demand for organic farming, the agricultural sector demanding more of biochar, rigorous environmental regulations, increasing usage of biochar in livestock as animal feed, and its utilization in waste management. A few constraints that this market is facing are its high prices and lack of awareness. However, the awareness about it seems to be increasing rapidly.
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The market can be broadly divided geographically into Middle East and Africa. The market here is in the initial stages and its market share is expected to be around 6% globally. Degrading soil quality in the production of crops due to use of bio-chemicals and increasing demand for food crops is expected to propel the growth of this market in the region.
Some of the major companies dominating the Middle East and Africa Biochar market are Biochar Products Inc., Diacarbon Energy Inc., Agri-Tech Producers LLC, Genesis Industries, Green Charcoal International, Vega Biofuels Inc., The Biochar Company, Cool Planet Energy Systems Inc., Full Circle Biochar, and Pacific Pyrolysis Pty Ltd.
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