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The global wood vinegar market is expected to grow with the CAGR of approximately 7.4% during the forecast period (2016-2023). Wood Vinegar also called (liquid smoke, pyroligneous acid, pyrolysis water, wood distillate or Mokusaku and smoke water) is an amber liquid created by the natural act of carbonization at the time of charcoal/ biochar production. It is of an acidic nature with a pH of approx. 2.5 – 3.0 and comprises a multitude of organic compounds. The key constituents aside from water comprise methanol and acetic acid. There are various applications for wood vinegar, however the major commercial applications include animal husbandry, tar and creosote production, a food additive for increased smoke flavoring, waste water treatment, human medicinal purposes, industrial source of acetic acid and agriculture. Wood vinegar has substantial benefits to the agricultural sector as it is a high-density liquid along with better economic freight costs vs. coverage that suits into on farm infrastructure and existing supply chain. Thus, the demand for wood vinegar is high in agriculture sector to improve crop yield.
The global wood vinegar market growth is primarily driven due to increasing demand for bio-based products. Bio-based chemicals have wide applications in agriculture sector in the form of bio-pesticides and bio-fertilizers. It is mainly used in agriculture to augment the yield of crops and to destroy the harmful components present in the soil that can cause diseases in the plants. They are not only cost effective as compared to synthetic chemicals, but are also environmentally friendly. Growth of plants can be increased by using bio-fertilizers as they possess natural components which do not harm the plants. Furthermore, growth in animal feed industry is also further driving the market growth as wood vinegars are utilized as a supplement for livestock feed. Wood vinegar enables to adjust bacterial levels in animal digestive tract that could increase the nutrient absorption among feed population. However, harmful effects associated with the use of the wood vinegar act as a major restraining factor for the market as it can be toxic to some extent to fish and plants, if used excessively. Lack of awareness regarding application of wood vinegar and harmful effects associated with the use of wood vinegar are few restraints for the market. While growth in food industry and increasing demand for bio-based products are providing opportunities during forecast years.
Source: OBRC Analysis
The global wood vinegar market is segmented on the basis of application and pyrolysis method. The application segment includes:
The pyrolysis method is sub segmented into:
The revenue for the above applications segment is specific to the wood vinegar market. However, the total revenue of these application and verticals in general has been excluded from the scope of the report. However the transportation and storage cost of these applications has been excluded from the report scope.
Geographically, the global wood vinegar market has been segmented on the basis of four major region, which include:
Asia-Pacific held a major share in 2015, in terms of revenue in the wood vinegar market due to increasing adoption of wood vinegar in organic farming natural farming input. Moreover, increasing demand for bio-based chemicals in the region is also supported for the growth of wood vinegar in the region due to increasing Government support to renewable energy sources, renewable feedstock’s sources and availability. Globally, wood vinegar is utilized as a bio-pesticide as there is a high need to decrease environmental risk caused from chemical pesticides. Europe is expected to witness potential growth in the forecast period (2016-2023) while the use of chemical fertilizer is disturbing the food chains.
Based on segmentation global wood vinegar market is segmented into application and pyrolysis method. In application segment, agriculture sub segment has accounted for the major share in 2015 due to use of wood vinegar in agriculture which It is a better substitute of chemicals as it improves crop yields as well as controls the effect of harmful insects on crops. For example, when wood vinegar is used in the soil for high concentrations, it aids in preventing the eelworms growth and the subsequent harm caused to the soil. Moreover, while utilizing in low concentrations, it can increase the number of beneficial microbes in the soil. It also enables crops for the development of stronger roots, which can further increase uptake of nutrients. In pyrolysis method, Slow pyrolysis method held major share in 2015 as it has advantages related to yield and quality that wood vinegar created. Rising demand for several grades of wood vinegar for a variety of applications is boosting the growth of slow pyrolysis wood vinegar market.
The major market players of the global wood vinegar market are:
Detailed analysis of these companies provided in this report comprises Overview, SCOT Analysis, Product Portfolio, Strategic Initiative and Strategic Analysis.
These companies using various strategies such as merger & acquisition, collaboration, partnership and product launching. On Jan 2017, Pyrotech Energy Pty Ltd is an Australian Energy Firm which is specialized in the Biomass Field has set up collaboration with Nettenergy BV for its Nettenergy’s Pyroflash Technology. Its Pyroflash Technology transforms Waste Biomass to Bio Chemicals and Liquid Fuels. According to Pyro-Tech, this collaboration set up marketing and licensing preparations for the Pyroflash Technology. The company has huge availability of waste biomass, which can be converted to valuable renewable energy and various Bio by-products attributing to setting up an appropriate commercial income generation by the effectiveness to save thousands of CO2 emissions annually.
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At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global Wood vinegar market offers the longest chain of market segmentation covering major segmentation based on application and pyrolysis method. The report tracks the major market trends in the global wood vinegar market such as increasing government initiatives to support bio-based products .For each market segments covered in global wood vinegar market report we provide opportunity matrix, and DRO analysis that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the wood vinegar industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key Findings of the global wood vinegar market:
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