Transparency Market Research has released a new market report titled “Biochar Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014 - 2020.” According to the report, the global Biochar market revenue was valued at USD 229.3 Million in 2013 and is expected to reach USD 572.3 million in 2020, at a CAGR of 14.8% from 2013 to 2020. Also, the global commercial Biochar production is expected to surge from 100 Kilo tons to 300 Kilo tons at a CAGR of 20.1% from 2013 to 2020.
Biochar is a byproduct of charcoal and is obtained by thermal gasification or pyrolysis of charcoal. Biochar improves the soil quality thereby reducing green house gas emissions and also possesses the potential to make more attractive business for renewable energy, fueling the global market for biochar in the coming years. Moreover, biochar offers wide applicability for both energy and non-energy purposes. It is used as a feedstock in the power plants and also for electricity generation.