Albany, NY, May 12, 2015 (GLOBE NEWSWIRE) -- According to a recently released report by Transparency Market Research, the U.S. Biochar Market is poised for a phenomenal growth between 2014 and 2020. In its 81 pages, the report titled "Biochar Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" describes the present market dynamics and future prospects for the biochar market in the U.S. Based on exhaustive research, the report predicts an outstanding compound annual growth rate of 19.0% for the U.S. biochar market during the forecast period. The biochar market in the U.S., which was worth US$1.45 billion in 2013, is expected to reach US$4.94 billion by the end of 2020. On account of volume, the market in 2013 stood at 2,187.58 tons and is projected to reach 10,000 tons by 2020, growing at a magnificent 24.3% CAGR during the forecast period.
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Biochar is a type of charcoal used for the purpose of soil amendment. It is a byproduct obtained from biomass pyrolysis. Biochar's inherent benefits of enhancing the soil fertility while providing natural carbon sequestration, have greatly contributed to its high demand from the U.S. It also helps in retaining the carbon already present in the soil, thereby significantly improving the soil quality. Owing to the high cost of biochar, it is usually sold in the form of low-cost biochar fertilizers and is targeted at gardening and household applications, as highlighted in the report.
Browse Press Release of U.S. Biochar Market: http://www.transparencymarketresearch.com/pressrelease/us-biochar-market.htm
The report identifies great scope of growth for the biochar market in the U.S., which is still at a nascent stage. There is limited awareness among consumers, which enhances the opportunity for vendors to plan their marketing efforts accordingly and disseminate awareness about the benefits of biochar. According to the report, the rising awareness and decreasing cost of production will give a significant impetus to the market for biochar in the U.S. Biochar is inherently capable of acting as a carbon sink. Its ability to sequester carbon has emerged as a major factor driving the biochar market in the U.S. Experts predict biochars can be used for many other applications, which are yet to be explored. The lack of concrete knowledge in terms of the other possible uses of biochar means that accumulating funds for financing research activities has emerged as a major challenge in front of the market.
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Biochar is available in the market in pure form and engineered biochar mixes that are designed to fulfill the need of gardeners and other small-scale users. However, the report identifies a second set of manufacturers in the market, who produce biochar in small quantities for their personal use. In the last couple of years, the U.S. market has adopted biochar as an organic product that enhances soil fertility, thereby giving a boost to the biochar market. Many new companies have started manufacture around the same time with the objective of exploiting the first mover advantage.
Other Reports Published by Transparency Market Research :
- Global Biochar Market: http://www.transparencymarketresearch.com/biochar-market.html
- Biomass Power Generation Market: http://www.transparencymarketresearch.com/biomass-power-generation-market.html
In order to evaluate the competitive landscape of the market, the report profiles leading companies such as Agri-Tech Producers LLC, Full Circle Biochar, Biochar Supreme LLC, The Biochar Company, and Cool Planet Energy Systems Inc. Other companies profiled by the report includes BioChar Products, Phoenix Energy, New England Biochar, CharGrow LLC, Tolero Energy LLC, Genesis Industries LLC, Vega Biofuels Inc., and Hawaii Biochar Products.
Browse Article on U.S. Biochar Market: http://www.transparencymarketresearch.com/article/us-biochar-market.htm
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Source:Transparency Market Research