Vega Biofuels Named Key Player in Global Biochar Market Industry Analysis
(Vega Biofuels/Stock News Now/MarketWired) Biochar Market to Be Valued at $572 Million by 2020. VEGA BIOFUELS, INC. (OTC PINK: VGPR) announced today that a recent market research analysis named Vega as a “key player” in the fast growing Biochar market.
Transparency Market Research recently published an in-depth report titled “Global Biochar Market Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2014-2020.” According to the findings of the report, the Biochar market revenue globally was $229.3 million as of 2013, and is projected to hit $572.3 million by 2020, registering a 14.8% CAGR from 2013 to 2020. In terms of volume, global commercial production of Biochar is poised to grow from 100 kilo tons to 300 kilo tons between 2013 and 2020, charting a CAGR 20.1%.
The report highlights key players within the global Biochar market and provides a detailed overview of each company. Vega Biofuels was named as a leading participant in the Biochar industry.
Vega’s Biochar is a highly absorbent specially designed charcoal-type product primarily used as a soil enhancement for the agricultural industry to significantly increase crop yields. The Company’s Biochar offers a powerfully simple solution to some of today’s most urgent environmental concerns. The production of Biochar for carbon sequestration in the soil is a carbon-negative process.
The report states that in 2013, North America accounted for 55% of the global Biochar production volume, followed by Asia-Pacific with 23%, Europe with 20% and the Rest of the World region with 2%. Some of the key factors fueling the growth of the Biochar market are availability of cheaper feedstock, potential for waste management, environment friendliness, and scope for food and water security. Moreover, there have been growing efforts and R&D activities by research institutes in the field of Biochar that has boosted the market. Conferences and promotional activities across the globe have propagated the benefits and applicability of Biochar at various levels.
“We are proud to be recognized by the global Biochar industry,” stated Michael K. Molen, Chairman/CEO of Vega Biofuels, Inc. “Due to the quality of our Biochar product, our Grow with Us marketing campaign has drawn a lot of attention from all over the world. We are in the process of expanding our marketing efforts by using resellers that can reach markets that we are not currently involved in. The Transparency Market Research Report shows just how big the Biochar market is.” READ MORE Access report