With many untapped application areas and the rising awareness about the several benefits, demand for biochar in the U.S market will exhibit an impressive double-digit growth through 2014-2020, points out Transparency Market Research. The U.S. biochar market is expected to exhibit a 19.0% CAGR and rise from a valuation of US$1.4 mn in 2013 to US$4.9 mn by 2020. Volume-wise, the market is projected to exhibit a 24.3% CAGR over the same period. As a result, the market, which totaled 2.2 kilo tons in 2013, is expected to rise to 10.0 kilo tons by 2020.
Biochar is a valuable soil enhancer that can be used to hold carbon and improve fertility of arable soil. With large-scale usage, it can aid in significant reduction of carbon emission from natural as well as industrial sources. Biochar can also be used for enhancing the quality of water as it can absorb agrochemicals and soil nutrients that otherwise get mixed with usable water and render it polluted. Biochar can also be used as a fuel.
The excellent growth prospects of biochar are majorly supported by its desired use as a carbon sink owing to its carbon sequestration ability. Use of biochar as a way to reduce carbon levels on the environment makes for one of the most common applications of the material and is expected to provide a huge boost to the U.S. biochar market over the coming years. Exploring the uses of biochar in the fields of wastewater management and energy production is one of the most lucrative business opportunities in the U.S. biochar market. However, presently the research and development in these sectors is restricted to government financing and will require persistent efforts from biochar companies in making the most of the untapped opportunities.
The U.S. market for biochar is restrained majorly by the lack of consumer awareness regarding the effectiveness of biochar and the high production costs of biochar. These challenges can be resolved through strategies aimed at making general consumers more aware of the several benefits of the material and the entry of new companies in the marketplace. A larger competitive landscape will help the U.S. biochar market develop healthy competition, boost innovation in terms of production techniques, and bring down production prices.
Download the Biochar Industry Fact Sheet by 2020 @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=3636
Some of the most influential vendors in the U.S. biochar market are Vega Biofuels, Three Dimensional Timberlands, LLC, Hawaii Biochar Products, LLC, Victory Gasworks, Inc., BioChar Products, Tolero Energy, LLC, New England Biochar, LLC, Phoenix Energy, Genesis Industries, LLC, and CharGrow, LLC. The market is led by companies such as Cool Planet Energy Systems, Inc., Full Circle Biochar, The Biochar Company, Biochar Supreme, LLC, and Agri-Tech Producers.
The review of the U.S. biochar market is based on a recent market research report published by Transparency Market Research. The report is titled “Biochar Market - U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020,” and is available on the company’s website for sale.
The market has been segmented as follows:
U.S. Biochar Market: Application Segment
- Gardening
- Agriculture (large farms)
- Household
No comments:
Post a Comment