Biodiesel Market Size, Share & Trends | 2020 - 2025

The size of the biodiesel industry was estimated at USD 34.3 trillion in 2020 and it is predicted to reach USD 41.5 trillion in 2025, with a compound annual rate of 3.2%, between 2020 and 2025. The worldwide biodiesel industry is predicted to experience great expansion. in the coming years, not only because of growing environmental concerns, but also because of rising prices for non-renewable energy sources, such as oil. Governments are improving the use of biodiesel worldwide, and many countries have begun to merge conventional diesel with a percentage of biodiesel. Biodiesel is the only form of renewable fuel that can be employed in all energy segments, namely electricity, heat and transportation, which is one of the main factors contributing to the expansion of the biodiesel industry. The growing awareness of the depletion of non-renewable energy sources and the need to integrate renewable energy sources has also contributed significantly to the growing call in the biodiesel industry.

Market drivers and restraints:

The growing call for ecological fuels that reduce greenhouse gas emissions and ensure complete combustion is an important factor in the biodiesel industry. Government support for biodiesel production by providing subsidies and imposing mandates indicates continued industry expansion. Growing concerns about greenhouse gas emissions from fossil fuel use are driving the expansion of the biodiesel industry. Biodiesel reduces greenhouse gas emissions by up to 50% compared to petroleum diesel; and it also has a low toxic and carcinogenic aromatic carbon content. The expansion of the worldwide biodiesel industry is the fact that they are obtained from biological processes and can be made using any form of oil-rich crop such as oil palm, soy or sunflower. These crops are grown naturally in all regions of the world, making biofuels the most environmentally friendly form of energy resource. The worldwide biodiesel industry is fueled mainly by growing concerns about energy security and fossil fuel prices. Biodiesel is a direct substitute for fossil fuels and, regardless of persistent confusion in the biofuel industry regarding livelihoods, the quality of raw materials and the significant slowdown in investment, the worldwide biodiesel industry It will continue to grow at a steady rate.

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Report segmented as:

By type:

·         Methanol

·         Biohydrogen

·         Cellulosic ethanol

By application:

·         off grid electricity supply

·         transportation

Geographical analysis:

The emerging Asia-Pacific regions produce these raw materials in abundance. Additionally, the Asia-Pacific biodiesel industry is in a expansion phase relative to mature North American and European industrys, leading manufacturers to move to Asia and the Pacific. Another aspect that contributes to the expansion of the Asia-Pacific industry is the easy availability of raw materials. As a result, the main players in the worldwide industry are focemployed on moving biodiesel production to these emerging regions. Easy access to raw materials in developing regions has lowered entry barriers for manufacturers.

Important market players:

The dominating industry players in the biodiesel industry include 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)

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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