Global Wood Vinegar Market: Market Research by Knowledge Sourcing Intelligence
Wood Vinegar Market: Agriculture
Application to Hold Significant Market Share
Introduction
Wood
vinegar is a byproduct of charcoal production. Wood vinegar controls plant
growth and improves the quality of soil by eliminating pests. Wood vinegar
helps in accelerating the growth of the roots, stems, leaves flowers, and fruit
when applied in the appropriate quantity. However, it can have adverse toxic
effects on plants when applied in large quantities. The wood vinegar market
size is expected to increase due to growth in organic farming. The market
of wood vinegar is segmented by method, application, and geography. By the method,
the market is segmented into slow pyrolysis, intermediate pyrolysis, and fast
pyrolysis. By application, the market is segmented into agriculture, animal
feed, medicinal, and others.
Drivers and restraints of Wood Vinegar
Market
Rising
demand for chemical-free pesticides and other agrochemicals to enhance soil
fertility is one of the major drivers of the wood vinegar market. Increasing the use of energy from biomass is another factor that is boosting the wood vinegar market growth. This is because pyroligneous acid is a by-product
formed during the pyrolysis method of biomass which, in turn, has increased its
commercial sale across different industries such as cosmetics, agriculture, and
pharmaceuticals, thus positively impacting the growth of the wood vinegar market.
The growing shift towards organic farming will continue to bolster the growth
of the wood vinegar market during the forecast period. However, low awareness
regarding the use of wood vinegar for different applications in developing
economies is restraining the growth of the wood vinegar market.
Market Segmentation
By industry
research, the slow pyrolysis segment of method segmentation is expected to
have a significant market share on account of factors such as long vapor resistance
time and slow heating rate. Moreover, the slow pyrolysis method produces a
better quality of wood vinegar. By application, the agriculture segment is
expected to have a significant market share owing to its wide range of
applications as pesticides and fertilizers. It prevents the growth of the
eelworms in the soil ensuring the quality and the fertility of the soil.
Geographically, the Asia-Pacific region is expected to have a significant
market share of the global wood vinegar market share and also it is
expected to grow at a rapid pace. The market growth is projected on account of
the high adaption of wood vinegar as pesticides and fertilizers in the region.
Moreover, growth in organic farming is also expected to boost the market of
wood vinegar in the region.
According to competitive intelligence, the wood vinegar market is fragmented with hundreds of manufacturers.
The players are expanding globally to mirror their customers’ requirements. As
a result, they are increasingly integrating with other players. The key players
include VERDILIFE, LLC, Wood Vinegar Australia, Nettenergy BV, TAGROW CO., LTD,
and Ace (Singapore) Pte Ltd among others.
Key Questions Answered in This Report:
- What are the key regions having a
significant market share?
- What are the drivers and
restraints of the market?
- Who are the key market players in
the market?
- What is the market segmentation of
the wood vinegar market?
- What are the applications of the market?
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