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April 3, 2024: The 2023 Global Biochar Market Report, released jointly by IBI and USBI, marks a significant update in the biochar industry since 2015. The report largely validates existing knowledge regarding the industry’s current and anticipated path of growth.

• Respondents to the survey reported global biochar production of 352,000 metric tons (mt) in 2023 which was a 91% compound annual growth rate (CAGR) compared to 2021 values. Growth projections over the next two years show annual production of 2.6 million mt which is a CAGR of over 71%.
• As the industry matures, the annual growth rate will stabilize at a lower rate still providing a pathway to sequestering one gigaton of carbon dioxide annually by 2040 with a CAGR of 54%.
• In 2023, the biochar industry delivered over 90% of the carbon removal in the voluntary carbon markets but received only 12% of the funding for carbon dioxide removal (CDR) technologies.
• Among the top key inhibitors to growth include the low awareness of biochar (50.4%) and limited access to capital (32.7%) which make education about the many beneficial uses of biochar and developing large-volume markets a key priority for the industry.
• Agriculture-centric end-use biochar markets including crops, horticulture livestock feed, and manure management remain the top uses for biochar followed by soil remediation, water filtration, and forestry. However, quickly gaining ground are non-soil and non-agricultural uses including concrete and other industrial materials.
• Moving forward, industry priorities include end-use biochar market development, development, and enhancement of standards and specifications, advocacy as a leading technology in the CDR space, policy and lobbying, and education.

Click here to download your copy of the 2023 Global Biochar Market Report.

At Earthcare Solutions, our focus is on the entire circularity of organics management and the beneficial end-use of biochar in an array of applications. With decades of experience in organics gasification and biochar design and application, we aim to play a key role in advancing the biochar industry while providing economically feasible and environmentally beneficial solutions to our clients and the world at large. It’s an exciting time in our industry and we have several projects and other developments that we look forward to sharing shortly.

Thank you IBI and USBI for putting this report together. We are looking forward to seeing the continuous growth in the biochar industry.