The market is segmented by Feedstock (Animal fat, Vegetable Oil, and Others), Application (Transportation, Power Generation, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)
The market for biodiesel is expected to grow at a CAGR of more than 7% in the forecast period 2021-2028
Biodiesel is a renewable fuel produced from the transesterification of raw materials such as vegetable oil, animal oil, and used cooking oil. It is then used as a fuel that can power diesel engines. Also, corn oil, palm oil, canola oil, soybean oil, and jatropha oil are among the commonest raw materials for biodiesel.
The easy availability of feedstock, with supporting government policies in different countries is the factor that has supported long-term expansion for Biodiesel Market.
The COVID-19 pandemic has had a noteworthy effect on the global economy at different stages, and the impact is also seen on biodiesel demand. Automobiles and agriculture, the major end users of biodiesel, experienced downturn in 2020. Furthermore, the market was affected by supply chain disruptions, shortage of raw material supply, and government.
The U.S. ranks as the number one producer of biodiesel in the world, and also one of the largest consumers. Environmental benefits of biodiesel, easy accessibility, and the federal Renewable Fuels Standard Program have majorly contributed to the growing demand for biodiesel in the country.
Insights are provided for each region and major countries within the regions
Report Feature |
Descriptions |
---|---|
Growth Rate |
CAGR of 7.0% during the forecasting period, 2021-2026 |
Historical Data |
2018-2019 |
Forecast Years |
2021-2028 |
Base Year |
2020 |
Units Considered |
Revenue in USD billion and CAGR from 2021 to 2026 |
Report Segmentation |
material type, end use, implementation and geography |
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
Companies Profiled |
Neste, Archer Daniels Midland Company, Bunge Limited, Louis Dreyfus Company B.V., Wilmar International Ltd., Repsol S.A., Total, China Petroleum & Chemical Corp (Sinopec Corporation), Cargill Incorporated, RB Fuels and Renewable Energy Group, Inc |
Available Customization |
In addition to the market data for Biodiesel Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Biodiesel Market is segmented into feedstock, application and region.