Growing demand in automotive and power generation drives Biodiesel Market

Posted by rohan on November 6th, 2019

Biodiesel Market Overview:

Biodiesel is the form of renewable fuel that can be used across all energy sectors, namely electricity, heat, and transportation, which is one of the key contributing factors in the expansion of the global biodiesel market. Rising awareness relating to depleting non-renewable energy sources and the need to integrate renewable energy sources has also contributed majorly to the rising demand in the market. The size of the world market was around USD 36.79 billion by revenue, at the end of 2018. It is estimated to grow at a CAGR of 3.87% to reach around USD 44.48 billion in the forecast period.

Market drivers and restraints:

Rising demand for biodiesel to replace conventional fossil fuel in automotive and power generation application is estimated to drive market growth. The global market is mainly driven by the need for the vegetable oil segment of the feedstock type in a different form and from several end-user industries. Also, the increasing demand for the use of biodiesel as fuel assists in the growth of the global market. Nevertheless, the costs related may restrain the market in the forecast period. However, the market concentration in regions like the Asia Pacific and the Middle East and Africa, are expected to promote the business in the coming years. 

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Report segmented as:

By feedstock:

  • Vegetable oils
  • Animal fats
  • Brown grease/trap grease

By application:

  • Fuel
  • Power generation

Geographical analysis:

Based on geography, the global market is segmented into Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Europe dominated the global market in the year 2018. The existence of a significant customer base in and around this region assists the growth of the local market.

Important market players:

Some of the key players operating in the global Biodiesel Market are Enerkem among few, INEOS New Planet BioEnergy, Canergy LLC, Abengoa bioenergy, Amyris, Poet-DSM Advanced Biofuels LLC.

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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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Joined: September 20th, 2017
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