Biodiesel Market Outlook
Biodiesel is a renewable and biodegradable fuel produced from the transesterification of vegetable oils and animal fats. It is manufactured using palm oil, soybean oil, corn oil and jatropha oil. Biodiesel is widely used as an alternative fuel to diesel and is also utilized for heat generation, transportation, charging electronics, cooking and removing paints.
The global biodiesel market size reached US$ 40.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.7 Billion by 2027, exhibiting a growth rate (CAGR) of 4.4% during 2022-2027.
In comparison to petroleum, biodiesel has higher oxygen content, is cost-effective, non-toxic and does not produce harmful chemicals. As a result, biodiesel finds extensive applications across various industries, such as aviation, industrial, marine, mining, automotive and agriculture.
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Biodiesel Market Trends:
The global biodiesel market is primarily being driven by the increasing demand for environment-friendly fuels. It provides enhanced energy conservation, reduced emission of greenhouse gases (GHGs) and improved air quality. Moreover, various technological advancements, such as the development of hydrodynamic cavitation techniques for the manufacturing of biodiesels with enhanced energy efficiency and reaction rate, are providing a thrust to the market growth.
Other factors, including the widespread product adoption in the marine industry as shipping fuel, along with the implementation of various government initiatives for sustainable development, are creating a positive outlook for the market.
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Note: In this report you will get detailed analysis of the market, growth analysis graphs, historical period analysis, forecast period analysis, major market segmentation, top leading key players of the market, table of content, list of figures, and list of tables.
Competitive Landscape with Key Players:
The report has also analyzed the competitive landscape of the market with some of the key players:
- Archer Daniels Midland Company (ADM)
- Wilmar International Limited
- Renewable Energy Group Inc.
- Cargill Inc.
- Bunge Limited
- Neste Corporation
- Louis Dreyfus Company
- BIOX Corporation
- Münzer Bioindustrie GmbH
- Diester Industrie
- BTG International Ltd
- DuPont
- POET
- VERBIO
- China Clean Energy Inc.
- CropEnergies AG
- INEOS
Key Market Segmentation:
The report has categorized the market based on feedstock, application, type and production technology.
Market Breakup by Feedstock:
- Vegetable Oils
- Animal Fats
- Others
Market Breakup by Application:
- Fuel
- Power Generation
- Others
Market Breakup by Type:
- B100
- B20
- B10
- B5
Market Breakup by Production Technology:
- Conventional Alcohol Trans-esterification
- Pyrolysis
- Hydro Heating
Market Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
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Key highlights of the report:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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