Technological advancements, demand in APAC segment, extensive use in agriculture, chemical free/ organic fertilizer, low cost of production are major drivers for wood vinegar market.
New York City, United States – May 27, 2020 /MarketersMedia/ —
According to the analysis of Reports and Data, wood vinegar market is estimated to be valued at USD 4.0 million in 2019 and is projected to reach USD 7.6 Million by 2027, at a CAGR of 7.4% from 2020 to 2027. Wood Vinegar is a derivative of charcoal. It is collected by carbonization, by heating biomass in a closed container. The smoke produced from the production of charcoal is cooled into a liquid and is further segmented into tar, wood vinegar, and bio-oil. Wood vinegar has around 80%–90% water and more than 200 organic compounds, including phenol, esters, acetic acid, ketones, methanol, and formic acid. Technological improvements are the fundamental trend being observed in the wood vinegar market. With the rapid improvements in technology, advanced and better pyrolysis kiln methods have been developed for the generation of char, wood vinegar, or biochar.
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Leading Wood Vinegar manufacturers/companies operating at both regional and global levels:
ACE (Singapore) Pte Ltd, Canada Renewable Bioenergy Corp., Nettenergy BV (Netherlands), TAGROW CO., LTD. (China), and Byron Biochar (Australia).
Segments covered in the report:
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented wood vinegar on the basis of type, application and region:
Based on Pyrolysis Method, the wood vinegar market has been segmented as follows: (Revenue, USD Million; 2020-2027)
• Slow pyrolysis
• Fast pyrolysis
• Intermediate pyrolysis
Based on Application, the wood vinegar market has been segmented as follows: (Revenue, USD Million; 2020-2027)
• Agriculture
• Animal feed
• Food, medicinal, and consumer products
• Others (including industrial source for production of acetic acid, tar & creosote production, and waste water treatment)
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Further key findings from the wood vinegar market report suggest
• Based on the application, the wood vinegar market is categorized into food, agriculture, wastewater treatment, animal husbandry, wood tar, and others. Among these, agriculture held the largest share in the market during the 2013–2015 period. Due to the heavy utilization of fertilizers and pesticides for the prevention of insect attacks on crops, the demand for wood vinegar in the agriculture application is growing across the globe.
• Based on the manufacturing process, the wood vinegar market is segmented into slow pyrolysis, fast and intermediate pyrolysis, and others. Among these, slow pyrolysis is expected to hold the largest share in the market during the forecast period due to the more prolonged vapor resistance time and slow heating degree offered by this manufacturing process.
• As a fertilizer, Wood Vinegar is able to improve absorption through the roots of your plants, stimulate plant and vegetable growth; it also promotes healthy and balanced growth, enrich soil fertility, acts as a pest repellent, and improves the color, firmness, and flavor of the fruit. Due to such wide-ranging benefits offered by the wood vinegar or pyroligneous acid, in May 2018, Nettenergy signed a license agreement with Shirke Energy for its PyroFlash technology.
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Europe
• Asia Pacific
• MEA
• Latin America
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To summarize, the global Wood Vinegar market report studies the contemporary market to forecast the growth prospects, challenges, opportunities, risks, threats, and the trends observed in the market that can either propel or curtail the growth rate of the industry
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