Global Biodiesel Market

Biodiesel Market Insights

The global biodiesel market is estimated to witness a high CAGR during the forecast period (2019-2026). Biodiesel is produced from fatty oils and methanol or ethanol, using a transesterification process. It is an alternative fuel having similar characteristics to petroleum diesel. Growing concern for the environment, increase in demand for diesel fuels, and concern of energy security are some of the major factors driving the biodiesel market. Rise in the investments made in the energy & power sector, and growing demand for clean and renewable sources of energy is expected to propel the market growth during the forecast period. Increasing use of crude glycerin from biodiesel production and increased use of biodiesel in the transportation industry in developed regions is expected to spur the market growth. However, stringent norms by the government, fluctuation in prices of raw materials, and consumption volume of biodiesel are likely to hamper the market growth during the forecast period.

Biodiesel Market: By Feedstock Type

On the basis of feedstock type, the global biodiesel market is segmented into vegetable oils, and animal fats, among others. The vegetable oil segment is expected to hold the largest market share in terms of volume during the forecast period. Vegetable oil is obtained by soybean oil, palm oil, and rapeseed / canola oil among others. Vegetable oils are commonly used in biodiesel processing, as they contain less saturated fat. Furthermore, increased production of biodiesel and increased transportation costs are expected to boost the market for biodiesel. Moreover, vegetable oils are easily available compared to animal fats.

Biodiesel Market: By Application

On the basis of application, the market is segmented into power generation, and fuel, among others. The power generation segment is expected to hold the largest market share, in terms of value during the forecast period. According to EESI, the average U.S. home in 2015 used about 10,812 kilowatt-hours of electricity per year. Furthermore, the products of biodiesel, find their use in different end use industries including automobile, marine, and agriculture among others. The pure form of 'B100' biodiesel will serve as a renewable substitute for the distillate oil used to generate electricity.

Diesel generators are primarily used as power source in remote areas. Increased lubricity of several biodiesel blends may reduce the amount of corrosion in the engine which is expected to drive the power generation market during the forecast period.

Biodiesel Market: By Region

On the basis of region, the market for biodiesel is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Central & South America. Asia Pacific market is expected to grow at the highest CAGR during the forecast period. Increase in fuel prices, and growing number of diesel vehicles in the region is expected to drive the market. Europe is expected to witness a steady growth in the biodiesel market during the forecast period. Growing use of biodiesel as a fuel in the transportation industry in Europe is expected to fuel the biodiesel market. The European region government has produced alternative low-costs feedstocks such as vegetable oil, castor, and tallow among others. Moreover, followed by Asia-Pacific, North America market is projected to grow at a substantial CAGR in terms of volume and value during the forecast period. According to the researchers, the biodiesel industry is expected to produce 4 billion gallons of biodiesel by 2022.

Biodiesel Market: End Use Landscape

The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are John Deere, and Siemens among others.

Biodiesel Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the biodiesel market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Biodiesel Market Share & Competitor Analysis

Some of the key players operating in the Biodiesel market are Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, Neste Corporation, Renewable Energy Group Inc., Cargill Inc, BIOX Corporation, and TerraVia Holdings Inc. among others.

Please note: This is not an exhaustive list of companies profiled in the report.