Global Biodiesel Market has valued USD35 Bn in 2017 and is anticipated to reach approximately USD45 Bn by 2026 at CAGR of about 7 % during a forecast period.
The report on â€œBiodiesel Market is segmented by feedstock, by application, and by region. Based on Feedstock Type biodiesel market is segmented by Vegetable Oils (Soybean, Rapeseed, and Palm), Animal Fats (Lard/White Grease, Poultry, and Tallow), Brown Grease/ Trap Grease). Automotive, Power Generation, agriculture is application segments of the biodiesel market. Regionally, biodiesel market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Government across various countries are also introducing policies to support the production of biodiesel to reduce emission and create positive economic impact is driving the biodiesel market. Limited availability of crude oil is positively impacting biodiesel market. Biodiesel overcomes the drawbacks of crude oil. Biodiesel is used on a large scale in various industries including marine, railway, automotive, power generation, mining, etc. Dependency on foreign oil reserves has decreased due to the domestic production of biodiesel.
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Vegetable oils are leading segment in the biodiesel market, Owing to its low cost and easy processing compared to animal fats. Vegetable oil is sub-segmented into soybean oil, distillerâ€™s corn oil, canola oil, and yellow grease. Among the sub-segment soybean oil is dominating one. Low cost of soybean oil compares to other oils is driving the market. Also, animal fats are sub-segmented into lard, poultry, tallow, brown grease.
Automotive segment is ruling the market due to its advantages like low carbon emission and greenhouse gases than petroleum-based diesel. Automotive segment constitutes more than half of the market in which transportation has a major share. Heating oil is replaced by biodiesel in much application.
Europe is the leading market for biodiesel. The European region is the biggest producer of biodiesel. France and Germany are the top biodiesel producers. Europe government has enacted the policy to increase the use of biodiesel that requires the blending of biodiesel with fuels, which includes fines if the required rate of biodiesel is not blended. Latin America and the Asia Pacific is emerging as a major producer.
Western Dubuque Biodiesel, Delta American Fuel, Imperium Renewables, DuPont, Deerfield Energy, Crimson Renewable Energy, China Biodiesel International Holding, Diversified Energy Corporation, XL Renewables, Blue Marble Energy Corp., Solvay SA, Mitsui, Ineos Group, Royal Dutch Shell plc, Louis Dreyfus, Bunge Limited, Wilmar International Limited, Archer Daniels Midland Company, Cargill, and TerraVia Holdings, American Energy Producer, ACCIONA Energy, LLC, and Green Earth Fuels are few key players of biodiesel market.
Scope of theÂ Global Biodiesel Market
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Global Biodiesel Market by Feedstock Type:
Global Biodiesel Market by Application Type:
Global Biodiesel Market by Region Type:
Middle East & Africa
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Key Players Analysed in the Global Biodiesel Market:
Archer Daniels Midland Company
Wilmar International Limited
Renewable Energy Group Inc.
Louis Dreyfus Company
TerraVia Holdings Inc.
Royal Dutch Shell plc
Western Dubuque Biodiesel
Delta American Fuel
Crimson Renewable Energy
China Biodiesel International Holding
Diversified Energy Corporation
Blue Marble Energy Corp.
American Energy Producer
Green Earth Fuels of Houston