Wood Vinegar Market: Market Outlook
Wood vinegar, also known as pyroligneous acid, is the acid compound which is produced from the wood and other plant materials. Wood vinegar is manufactured by the destructive distillation process, in which, the wood and plant material is heated on the high temperature with limited presence of oxygen. The wood vinegar contains a high amount of methanol, acetone, and acetic acid. Wood vinegar is a natural and organic substance which are mainly used for organic farming. It is a nontoxic compound which increases the vitality and quality of the crops. Furthermore, wood vinegar is also considered as a commercial source of acetic acid.
The wood vinegar is primarily utilized for agriculture purpose. It is sprayed on the plant leaves to retain the freshness. The agriculture use of wood vinegar is in more demand due to containing natural and organic properties. The agriculture industry is now experiencing the drastic change and use of organic compounds for fertilizer is increasing. This has created a better market platform for wood vinegar. It increases the crop yield, enhances the soil fertility, provides protection from the pests, and others. The growing negative influence towards the chemical fertilizer and exceptional properties of wood vinegar is fueling the growth of wood vinegar market.
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The growing preference for the bio-based compound in agriculture industry is escalating the demand of wood vinegar
The wood vinegar market is driven by the rising inclination towards the use of the bio-based compound in the agriculture industry. The wood vinegar is produced by the heating the wood and plant material with high temperature without the addition of any chemical. Due to which, it is not considered as a chemical fertilizer. Besides, strict environment regulation towards the use of pesticides and chemical fertilizers is also among the driving factor for the wood vinegar market. Furthermore, the growing demand for acetic acid in a different industry is also providing the potential opportunity to the wood vinegar market. The wood vinegar is one of the top sources of acetic acid which comprise around 80% of acetic acid. In the food and beverages industry, the growing use of acetic acid as acidulants is subsequently fueling the growth of wood vinegar. However, the availability of substitutes for the wood vinegar is hampering the global wood vinegar market.
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Global Wood Vinegar Market: Segmentation
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Global wood vinegar market: Key Players
Some of the key players of wood vinegar market are Canada Renewable Bioenergy Corp, Doishouten, Nohken-techno, TagrowCo. Ltd., Nettenergy BV, Byron Biochar, Thai Wood Vinegar, Wood Vinegar Australia, New Life agro, Nakashima Trading Co.,Ltd. and others.
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Opportunities for Market Participants in the Wood Vinegar Market-
As the demand for the biological compound for farming is growing at the global level, the market participants will be getting a beneficial opportunity in the global wood vinegar market during the forecast period. The growing awareness towards organic farming across the world is strengthening the size of global wood vinegar market. This is offering a better market scenario to the manufacturers in global wood vinegar market.
Global Wood Vinegar Market: Regional Outlook
South Asia is leading in the global wood vinegar market by showing the highest value share due to the highly developed agriculture industry in the region. Whereas, North America is followed by South Asia is also showing the significant value share in global wood vinegar market and the major reason is growth in growth in organic farming in the region. However, Europe and East Asia are displaying the highest growth in the global wood vinegar market due to increasing use of bio-based fertilizer in the agriculture industry.