The International Biochar Initiative 's long-awaited Global Market Report is out! The biochar industry has witnessed remarkable growth, with the global market reaching $600 million in 2023 and projected to expand to $3.3 billion by 2025. This surge is fueled by a 91% compound annual growth rate in production since 2021, driven by biochar's potential to significantly reduce carbon dioxide emissions. As a stable carbon form produced from organic materials like crop residues and forestry trimmings, biochar has become a pivotal carbon dioxide removal (CDR) technology. Accounting for over 90% of carbon credits in 2023, biochar demonstrates not just environmental benefits but also a growing financial market. The 2023 Global Biochar Market Report, featuring insights from over 1,000 stakeholders in 101 countries, underscores biochar’s role in climate change mitigation. This first-of-its-kind report since 2015 paints a promising future for biochar, highlighting its adaptability across various scales, from large industrial plants to small-scale farming operations. This growth underscores the need for more research and development in the biochar sector, particularly in enhancing market participation and scaling up production. The industry's expansion is not just a testament to biochar's environmental potential but also to its economic viability and scalability. Get the report and support our friends at the IBI here: https://zurl.co/pMIt Special thank you to Myles Gray, P.E. for his work on making this happen. #Biochar #Sustainability #CarbonCredits
We're looking forward to making the 2024 market report even more robust!
ESR Ltd
6moIn making biochar, one should use fuel of a uniform grain size, and one should use the heat that is produced for cooking, baking, boiling and so forth. Heat should never be wasted.