KEY FINDINGS The Asia Pacific biochar market is expected to register a CAGR of 15.87% in terms of revenue over the forecast period, 2020-2028. Further, the market is evaluated to witness a CAGR of 13.36% in terms of volume during this period. The dominant factor driving the market growth in the Asia Pacific region is its potential in soil improvement and carbon reduction, especially for small scale farmers.
MARKET FINDINGS The biochar market of the Asia Pacific region is analyzed further by segregating the market regions into countries such as South Korea, China, India, Vietnam, Thailand, Japan, Australia & New Zealand, Indonesia, and the rest of Asia Pacific that includes Taiwan, Philippines, and others. In countries like Indonesia, the soil is considered poor due to acidity and water limitations. However, biochar can make the soil fertile by neutralizing soil acidity and replacing nutrients. So, there is scope for a detailed study of biochar to improve livelihoods in Indonesia. In Thailand, agricultural production is threatened by demographic pressure and urbanization. The use of biochar is a potential technique to increase soil fertility and water retention in the sandy soils for agricultural lands in Thailand.
In countries like Vietnam, most of the soil on the cultivated area is prone to degenerate due to wrong agricultural practices. The Biochar for Sustainable Soil (B4SS) project in Vietnam is working on projects to develop the biochar market. Australia is one of the leading countries in terms of biochar demand. Several small and medium companies are producing biochar in the country. Thus, the biochar market is set to witness considerable growth in Australia. In Taiwan, the dry agriculture and forest residues would be a large source for biochar, and can drive the Taiwanese forest and agriculture circular economy.
COMPETITIVE INSIGHTS AirTerra, ArSta Eco, Biogreen (part of ETIA Group), Pacific Biochar, Cool Planet, etc. are some of the key companies operating in the region.