The global WoodVinegar Market size is expected to value at USD 6.6 million by 2025. The market is subject to witness a substantial growth due to the rising initiatives taken by local governments across the globe involving adoption of organic farming methods to improve overall crop yield. Rapid growth associated with organic farming mainly in developing economies to meet rising demand of the growing population is one of the key driver for the sustained growth of the wood vinegar industry in recent years. Wood vinegar is commonly identified as a natural extract derived from woods, is considered as ideal choice in comparison with the animal feed and natural pesticides in agriculture pesticide segment, is key factor responsible for the growth of the market over forecast period.
Wide
range of application of the wood vinegar includes agriculture and animal
husbandry sector, and as a nutrient supplement. Wood vinegar is mainly utilized
by farmers and livestock producers in order to improve overall agriculture
production with the help of bio pesticides. Globally, the wood vinegar market
is predicted to grow at CAGR of 6.7% in forecast period, providing numerous
opportunity for market players to invest for research and development in the
wood vinegar industry.
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With
the rising adoption of wood vinegar in the agriculture as a soil enhancer and
organic pesticide, is expected to generate highest market share in the
agriculture segment. The need for bio-degradable and non-hazardous chemicals in
farming is on the rise due to numerous governmental initiatives, such factors
are propelling growth of the wood vinegar market in coming years. Subsequently,
rising popularity of the wood vinegar globally and growing approval for its regular
use are attributing to the market expansion over the forecast period. Also,
large-scale availability of the base material is enabling local farmer to adopt
and produce wood vinegar domestically, is pertaining to the market growth as
well. Specially, farmers who cannot afford premium synthetic chemicals, wood
vinegar serves as an ideal choice.
Influence
of organic farming on farmers is on the rise as it offers essential economic
stimulus and poverty alleviation by creating a sustainable agricultural yield
to provide excess of income from the available farm size and conditions. With
an addition of essential economic value for farmers, number of government
across the globe are directing the organic farming initiatives at local,
regional, and international stages. Adoption of different methodologies during
the production of the bio-mass is significantly impacting growth of the market
in recent years. Though, cheaper price associated with production of the
non-biomass based products is expected to hamper growth of the market in coming
years.
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Wood
vinegar also referred as pyroligneous acid or mokusaku, is produced and used in
organic farming with the help of traditional methods. Wood vinegar or the
liquid fuel is derived from bio-mass by carbonization, and consists of as much
as two hundred organic variants such as acetic acid and formaldehyde. Primary
variants such as acetic acid acts as a soil disinfectant, while methanol is
influential in increasing overall crop yield by minimizing consummation of
water. Similarly, phenols,one of the primary variant of the wood vinegar acts
as an antioxidant.
The
wood vinegar market is divided into regional market segment such as North
America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in the adoption of latest
methodologies in the agriculture sector to improve overall crop yield and
existence prominent industry players in the region. Asia-Pacific region is
predicted to hold major market share in the wood vinegar industry with massive
growth in forecast period.
Countries
such as India, China and Australia are leading the Asia-Pacific industry with
growing use of the wood vinegar as a food additive and in animal feed coupled
with significant investment by industry players considering potential for
sustained growth in the region. The key players in the wood vinegar market are
Vinegar Australia Co., Sort Of Coal Chemicals, VerdiLife Ltd., Taiko
Pharmaceutical Corporations, Nettenergy B.V., and Applied Gaia Co.
Market
Segment:
Application
Outlook (Revenue, USD Million, 2014 - 2025)
• Agriculture
• Animal-Feed
• Food, Medicinal, and Consumer Products
• Others
Method
Type Outlook (Revenue, USD Million, 2014 - 2025)
• Slow Pyrolysis
• Intermediate Pyrolysis
• Fast Pyrolysis
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