Biodiesel market size was valued at USD 32.09 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 10.1% from 2023 to 2029.
Global Biodiesel Market 2023-2029 research report gives most upcoming industry information on the market situation and future outlook. This report provides you analysis of Biodiesel market size, share, future growth, and cost structure, statistical and comprehensive data of the global market. The report is beneficial for strategists and industry players to plan their future business strategies. This is an in-depth market report, provides all you need to know about the Biodiesel Market. It includes the market news and updates about the market current situation, historic data, present market trends, and this factor which is valuable and supportive to the business.
With tables and figures helping analyze worldwide Global Biodiesel market trends, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.
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Top Prominent Players Mentioned in this report:
This report also introduces players in the industry from the perspective of the market share, concentration ratio, etc., and describes the leading companies in detail, with which the readers can get a better idea of their competitors and acquire an in-depth understanding of the competitive situation. Key companies covered as a part of this study include: Diester Industries,Neste Oil,ADM,Infinita Renovables,Biopetrol,Cargill,Ital Green Oil,Glencore,Louis Dreyfus,Renewable Energy,RBF Port Neches,Ag Processing,Elevance,Marathon Petroleum,Evergreen Bio Fuels,Minnesota Soybean Processors,Caramuru,Jinergy,Hebei Jingu,Longyan Zhuoyue,Greenergy UK,Biodiesel Amsterdam,SunOil,Petrotec,Biocom,SARIA Bio-Industries,Biodiesel Aragon,Bionor,Iniciativas Bioenergeticas and others.
- In November 2016, Renewable Energy Group Inc. started expansion of its Ralston, IA bio-refinery worth USD 24 million. This expansion will increase the annual production capacity to 30 million gallon from 12 million gallon and will help the company to serve the increasing demand of biodiesel in the U.S.
- In August 2016, Cargill Inc. expanded its canola research facility in Aberdeen (Canada). The expansion included a pathology lab, new state-of-the-art Quality Assurance lab, ventilated seed prep room, and high efficiency LED lighting throughout the facility, with UV repelling windows. This expansion covered 14,000 Sq. ft. area, and it will allow the company to conduct research and innovations in the specialty canola business.
- In June 2016, BIOX Corporation acquired a biodiesel facility in Sombra, Ontario owned by Methes Energies Canada Inc. The facility has the capacity of producing 50 million liters of biodiesel. This acquisition will increase the company’s production capacity by 75% and enable it to serve its customers in North America.
- January 20, 2022: ExxonMobil announced a 49.9% ownership in Biojet AS, a Norwegian biofuels startup that seeks to turn forestry and wood-based building waste to lower-emissions biofuel and biofuel components.
- Purefuel Energy said in November 2021 that it will open 1000 fully certified biodiesel retailing fuel stations in India over the following year. Purefuel Energy collaborates closely with government officials to achieve the Government of India’s aim of making India less reliant on fuel imports and lowering the country’s carbon impact. Purefuel’s first step in realising this objective will be biodiesel retail outlets.
Potential to reduce emissions
Biodiesel is simple to use, biodegradable, and non-toxic in nature and, most importantly, it is free of aromatics, and sulfur compounds. It emits lower greenhouse gases and air pollutants, reduces toxic carbon-based emissions and can be used in most diesel engines. The increasing concern regarding greenhouse gas emissions through the use of fossil fuels is driving the growth of the biodiesel market. Biodiesel reduces emission of greenhouse gases by up to 50% as compared to petroleum diesel; and also has low toxic and carcinogenic aromatic carbon content. The U.S. consumed approximately 2 billion gallons of biodiesel in 2015, which resulted in the reduction of carbon emissions by at least 18.2 million metric tons, according to new U.S. EPA data. The production of biodiesel by several countries has helped them in reducing their dependence on foreign oil reserves, as it is domestically produced, and can be used in any diesel engine with little or no modifications to the engine or the fuel system. Owing to the fluctuating prices of petroleum-based products, biodiesel is becoming an increasingly affordable option.
Global Biodiesel Market Segmentation:
Market segment by Type:
Rapeseed Oil Based Feedstock
Soybean Oil Based Feedstock
Waste and Residues Based Feedstock
Market segment by Application:
The Middle East and Africa (Turkey, GCC Countries, Egypt, South Africa)
North America (United States, Mexico, and Canada)
South America (Brazil etc.)
Europe (Germany, Russia, UK, Italy, France, etc.)
Asia-Pacific (China, Japan, Philippines, Korea, India, Indonesia, and Australia)
Europe accounted for a share of more than 46.7% of the global market in 2021 and is expected to grow at a steady CAGR from 2022 to 2030. It has historically been the largest market for the product due to early acceptance of the product in the region as well as government emphasis on replacing carbon-emitting sources with bio-based sources. Rapeseed oil, UCO, palm oil, soybean oil, animal fats, and sunflower oil are the most common feedstocks used to produce biodiesel in Europe. The product demand in the region is primarily driven by Germany, which accounts for the highest share of feedstock production among the European countries.
The low-interest rate on raw materials is expected to lead to a rise in consumption, thereby propelling the overall regional market growth over the forecast period. Asia Pacific is also projected to register a significant CAGR from 2022 to 2030. Thailand is likely to be one of the fastest-growing markets, as demand for diesel-powered automobiles in the region is increasing rapidly. Malaysia and Indonesia produce more than 80% of palm oil creating a great opportunity for biodiesel manufacturing.
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This report aims to provide:
– A qualitative and quantitative analysis of the current trends, dynamics, and estimations from 2023 to 2029.
– The analysis tools such as SWOT analysis and Porter’s five force analysis are utilized, which explain the potency of the buyers and suppliers to make profit-oriented decisions and strengthen their business.
– The in-depth market segmentation analysis helps identify the prevailing market opportunities.
– In the end, this Biodiesel report helps to save you time and money by delivering unbiased information under one roof.
Key question answered in this report
- What will the market size be in 2029 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Table of Contents: Biodiesel Market
Part 1: Overview of Biodiesel Market
Part 2: Global Biodiesel Market Status and Forecast by Regions
Part 3: Global Market Status and Forecast by Types
Part 4: Global Market Status and Forecast by Downstream Industry
Part 5: Market Driving Factor Analysis
Part 6: Market Competition Status by Major Manufacturers
Part 7: Major Manufacturers Introduction and Market Data
Part 8: Upstream and Downstream Market Analysis
Part 9: Cost and Gross Margin Analysis
Part 10: Marketing Status Analysis
Part 11: Market Report Conclusion
Part 12: Biodiesel: Research Methodology and Reference
Finally, the Biodiesel Market report is the believable source for gaining the market research that will exponentially accelerate your business.
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