Peat Market is estimated to reach US$ XX Mn by 2026 in terms of value with CAGR of XX% in the forecasting period 2019-2026.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Peat Market
Peat is an organic matter composed of wetland vegetation that includes various bog plants such as mosses, sedges, and shrubs. Peat, also known as turf, is an accumulation of organic matter or decayed vegetation that is found in natural areas such as mires or peatlands. Peat finds applications in the horticulture and agriculture sectors owing to its rich organic properties, providing excellent aeration and moisture when used with soil. Peat is harvested as a vital source of fuel in different regions of the world. It has an extraordinary ability to store water. Histosol is the term used when an enormous amount of peat is present in the soil.
Growing demand for electricity generation on account of the growing population has been one of the major factors driving the Peat Market. Increasing popularity for biofuels and focus on the development of bio-based peat Types are expected to provide new opportunities for the growth of the peat market. The global market for peat have been witnessing noticeable growing owing to its reputation as a renewable source of energy.
Peat Market is segmented into type, end-use, and region. On the basis of type, fabric peat can replace many natural fibers in a sustainable manner without having to produce fiber crops on agricultural land. Peat as a fibre helps conserve wood as a fiber for other uses. Fabric peat possesses many anti-bacterial properties, excellent moisture, and tolerance. Based on end-use, in agriculture, farmers utilize dried peat to absorb excrement from cattle that are then wintered indoors. Peat holds a crucial position in the agriculture segment as it has an essential property of retaining moisture in the soil especially when the soil is dry. This helps in preventing the excess of water from destroying the roots when it is wet.
In terms of Region, Asia Pacific region is estimated to witness high growth in the market due to the fast urbanization along with the increasing population that leads to excessive demand for the Type in various countries. North America is projected to grow at a higher rate in the market due to a growing demand for peat in heavy industries. The increasing consumption of peat as an alternative fuel in the end-use application and growing demand for the Type in agriculture, water filtration, freshwater aquarium, and others.
Some of the key players in the Peat Market are Stender AG, Neova AB, Cocogreen®, BORD NA MÓNA, AB Rekyva, AS Tootsi Turvas, T & J Enterprises, PEAT LAND UKRAINE LLC, Globalcoirs, Oulun Energia Oy, Vapo, Jiffy Types International B.V, Elva E.P.T. Ltd.,Global Peat Ltd, Klasmann-Deilmann GmbH, Dutch Plantin, Lambert, Sun Gro Horticulture, Premier Tech and Turveruukki Oy.
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The Scope of the Peat Market:
Peat Market, by Type
• Sepric
• Hemic
• Fabric
Peat Market, by End-Use
• Agriculture
• Fuel & Energy
• Domestic
• Medicine
• Others
Peat Market, by Geography
• Asia-Specific
• Europe
• North America
• Middle East & Africa
• Latin America
Key Players operating in the Peat Market:
• Stender AG
• Neova AB
• Cocogreen®
• BORD NA MÓNA
• AB Rekyva
• AS Tootsi Turvas
• T & J Enterprises
• PEAT LAND UKRAINE LLC
• Globalcoirs
• Oulun Energia Oy
• Vapo
• Jiffy Types International B.V
• Elva E.P.T. Ltd.
• Global Peat Ltd
• Klasmann-Deilmann GmbH
• Dutch Plantin
• Lambert
• Sun Gro Horticulture
• Premier Tech
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