The report "Biodiesel Market by Feedstock Type (Vegetable Oils (Soybean, Rapeseed, Palm), Animal Fats (Lard/White Grease, Poultry, Tallow), Brown Grease/ Trap Grease), Application (Fuel, Power Generation), and Region. Increasing demand for environmentally-friendly fuels that reduce greenhouse gas emissions and ensure complete burning is an important factor driving the biodiesel market. The support of the government for biodiesel production by providing subsidies and imposing mandates indicates a continued growth of the market.
♦ Market Dynamics
Potential to reduce emissions
OEM support for biodiesel continues to grow
Easy availability of raw materials in emerging regions leading to overcapacity
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Companies covered -
Archer Daniels Midland Company (U.S.), Wilmar International Limited (Malaysia), Bunge Limited (U.S.), Neste Corporation (Finland), Renewable Energy Group Inc. (U.S.), Louis Dreyfus Company (Netherlands), Cargill Inc. (U.S.), BIOX Corporation (Canada), Munzer Bioindustrie (Austria), and Emami Group (India)
The vegetable oils segment is estimated to lead the biodiesel market
Vegetable oils obtained from the feedstock, such as soybean, palm, and rapeseed are used to produce biodiesel. Biodiesel obtained from vegetable oils is preferred across various industries, as it contains less saturated fat that makes it easy to process, thus reducing the overall manufacturing cost. Furthermore, the feedstock required to manufacture vegetable oils is more easily available as compared to animal fats and greases.
The fuel application segment is estimated to lead the biodiesel market
Fuel is estimated to be the leading segment of the biodiesel market, followed by power generation. Biodiesel is preferred as a fuel, as it reduces wear and tear of the engine and ensures complete fuel combustion. Additionally, biodiesel offers better fuel economy over fossil fuels.
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