Wood Vinegar Market Expected to Reach $6.4 million by 2027 —Allied Market Research

According to a new report published by Allied Market Research titled, “Wood Vinegar Market by Pyrolysis Method and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the wood vinegar market was valued at $4.5 million in 2019, and is projected to reach $6.4 million by 2027, growing at a CAGR of 7.0% from 2020 to 2027. 

Wood vinegar is also known as wood acid or pyroligneus acid. It is a liquid substance produced by pyrolysis process. Different type of biomass is used to produce wood vinegar, such as agricultural residues, crops, wood, and others. The general types of biomass used are sawdust and hardwood chips.

The global wood vinegar market is witnessing significant growth, owing to increase in demand for wood vinegar in agricultural and animal feed application. The wood vinegar market is under developed stage as wood vinegar is majorly used in the Asia-Pacific region. 

The wood vinegar market is analyzed on the basis of three segments—pyrolysis method, application, and region. On the basis of pyrolysis method, the market is categorized into slow pyrolysis, fast pyrolysis, and intermediate pyrolysis. On the basis of application, the market is classified into agriculture, animal feed, food, medicinal, & consumer products, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The wood vinegar market share is analyzed for all significant countries by segment.

On, the basis of pyrolysis method, slow pyrolysis has garnered the highest share in the wood vinegar market in 2019. Slow pyrolysis method is used in the production of wood vinegar owing to various benefits such as high yield at less temperature, profitable as compared to other pyrolysis methods, less emissions, and others.

On, the basis of application, agriculture has garnered highest share in the wood vinegar market. It has garnered 41.2% in 2019. Wood vinegar is an excellent pesticide and fertilizer that enhances quality of soil, aids elimination of pests, and helps in the growth of the plant. It assists in the development of stronger roots for the crops, protection from the dangerous insects and diseases, depletion of odors from developed manures, and others. 

The wood vinegar market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the wood vinegar market include Applied Gaia Corporation, Ace (Singapore) Pte Ltd. (ACE), Tagrow CO., Ltd. (Tagrow), Sane Shell Carbon (SSC), Shandong Toroyal Group (Toroyal Group), New Life Agro (NL Agro), Dongying Runyi Biological Technology Co., Ltd. (DRBT CO., Ltd.), Nettenergy BV, DOI & CO., LTD.

Key Findings Of The Study

• The wood vinegar market is analyzed from 2019 to 2027
• The wood vinegar market size is provided in terms of revenue
• Depending on the pyrolysis method, the fast pyrolysis segment is projected to grow at the highest CAGR of nearly 6.8%, in terms of revenue, during the forecast period
• Region wise, North America is expected to register the CAGR of nearly 6.0%, in terms of revenue, in the coming future
• By application, the animal feed segment is estimated to exhibit the CAGR of 6.9%, in terms of revenue
• LAMEA also dominated the market with a share of over 26.4% in 2019, in terms of revenue
• A comprehensive analysis of the factors that drive and restrain the market growth is provided in the report
• The qualitative data in this report aims at the market dynamics, wood vinegar market trends, and developments in the industry

Impact of COVID-19 on the wood vinegar market

• The manufacturing as well as supply regions or countries witnessed economic slowdown, owing to the lockdown implemented across several countries. The downstream section of the value chain that is the end user industry has witnessed less demand, which has impacted the wood vinegar market growth.