(Entertainment-NewsWire.com, October 12, 2017 ) The Global Wood Vinegar Market is worth USD million in 4.52016 and estimated to grow at a CAGR of7.1 %, to reach USD 6.34 million by 2021. The global Wood Vinegar market is developing at an exceptionally quick pace.
Wood vinegar is a natural substance which is extracted from wood and is also known as pyroligneous acid or liquid smoke. Wood vinegar is also a biodegradable and non-toxic material that is used in animal feeds and agriculture, and considered as a good option for organic farming. Wood vinegar aids in stimulating plant & fruit growth, reduce odor, enriches soil fertility, prevents pests, weeds, roots from rotting and enhance seeds for germination. Wood vinegar is produced via the process of carbonization, in which the wood is heated in an airless container.
The significant drivers for Wood Vinegar are improved crop yield, increasing government initiative for bio-based products, increasing base of end-use industries, stringent environment regulations etc. Also surge in use of wood vinegar the applications in agricultural practices such as increased disease resistance in plants, improved seed germination, soil enrichment and root growth stimulation. Limited manufacturers for the production of wood vinegar and stringent policies limit this industry.
Geographically, the Wood Vinegar market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East Asia. Asia Pacific is estimated to constitute the largest share in this market, because of the consumer acceptance for wood vinegar as an essential natural farming input.
Canada Renewable Bioenergy Corp., Nettenergy BV (Netherlands), ACE (Singapore) Pte Ltd, TAGROW CO., LTD. (China), and Byron Biochar (Australia). are the leaders in the global Wood Vinegar market.
