KEY FINDINGS The North American market of biochar is anticipated to record a CAGR of 10.32% in terms of volume, and 12.39% in terms of revenue, over the forecast period, 2020-2028. One of the main factors influencing the market growth in the region is the high availability of agricultural and forestry waste.
MARKET INSIGHTS The North American market region, with regard to the biochar market, is surveyed through countries such as the US and Canada, with the US dominating the market. Canada has large reserves of biomass accumulated from combined sources like forest fire reduction, agricultural residues, forest harvesting, and fast rotation sylviculture, which is required for biochar production. However, the process of converting biomass into biochar has an ecological impact. The organic carbon is converted into inorganic, black carbon, instead of dumped back into the atmosphere as carbon dioxide. The primary factor driving the market growth in the region is the availability of a large amount of forest waste. The country has the presence of organizations such as Canadian Biochar, Ontario Biochar, etc. that have taken several initiatives to develop biochar as a tool to reduce greenhouse gas emissions, waste-management, improve soil fertility, and revenue generation. The efforts to commercialize and market biochar will result in increased standardization in the manufacture of biochar.
COMPETITIVE INSIGHTS Tolero Energy, Pacific Biochar, Phoenix Energy, Airex Energy, AirTerra, Agri-Tech Producers, etc. are some of the eminent players in the market.