[Online Quarterly Update] Biodiesel demand stood at 25 Million Tonnes in 2020 and is forecast to reach 48.02 Million Tonnes by 2030, growing at a healthy CAGR of 6.75% until 2030. Biodiesel is a type of fuel made from bio-based resources such as vegetable oil and animal fat. It is renewable in nature with a lesser carbon footprint. It can be used in existing diesel engines without modification. Biodiesel is produced via transesterification whereby the glycerin is separated from animal fat or vegetable oil, leaving behind methyl esters and glycerin. Its major application areas are fuel and power generation. Lesser greenhouse gas emissions associated with biodiesel coupled with its biodegradable nature and the growing need to replace fossil fuel with renewable fuel are projected to drive the demand for biodiesel for the forecast period. Moreover, the high compatibility of biodiesel with the existing diesel engines is another factor fueling demand growth for biodiesel during the forecast period. Increasing population and the subsequent growth in the number of vehicles and other industries using biodiesel is also expected to support demand rise for biodiesel.
In 2020, the spread of COVID-19 in major global economies caused nationwide lockdowns, which had an impact on a number of industries. Automotive was among the most affected industries during the pandemic. In fact, during the pandemic, there was a fall in the demand of the automotive industry. This had an impact on the demand for biodiesel for the first half of 2020. The demand for biodiesel fell during the coronavirus pandemic. Furthermore, the increasing demand for environment-friendly and greenhouse gas emission reducing gas is anticipated to aid the growth of the market in the upcoming five years. Also, government aid like subsidies and imposing mandates indicates continued growth of the market.
Region-wise, the European region holds the major share of global demand for biodiesel due to early adoption and technological advancements of biodiesel. Moreover, increasing preference towards the replacement of fossil fuel which is associated with higher greenhouse gas emissions with biofuel, which is renewable and biodegradable in nature, is also an influencing factor for demand growth in Europe.
Major players for biodiesel globally include Australian Renewable Fuels Limited, Arizona Biodiesel, Ameresco Biofuels Corp., Cosan, Coskata, Sapphire Energy, Renewable Energy Group, Ag Environmental Products, Louis Dreyfus Corp, and others.
Years considered for this report:
Historical Period: 2015-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022–2030
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Objective of the Study:
• To assess the demand-supply scenario of biodiesel which covers production, demand and supply of biodiesel market globally.
• To analyse and forecast the market size of biodiesel.
• To classify and forecast global biodiesel market based on application, type and regional distribution.
• To identify drivers and challenges for the global biodiesel market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global biodiesel market.
• To identify and analyse the profile of leading players involved in the manufacturing of biodiesel.
To extract data for the global biodiesel market, primary research surveys were conducted with biodiesel manufacturers, suppliers, distributors, wholesalers and end-users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end-user segments and projected a positive outlook for global biodiesel market over the coming years.
ChemAnalyst calculated biodiesel demand globally by analyzing the historical data and demand forecast, which was carried out considering imported biodiesel, prices, materials used for production of biodiesel. ChemAnalyst sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Biodiesel manufacturers and other stakeholders
• Organizations, forums and alliances related to biodiesel distribution
• Government bodies such as regulating authorities and policymakers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as biodiesel manufacturers, customers and policymakers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in making investment decisions and facilitating their expansion.
Report Scope:
In this report, global biodiesel market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
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Attribute
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Details
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Market size volume in 2020
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25 million tons
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Market size volume in 2030
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48.02 million tons
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Growth Rate
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CAGR of 6.75% from 2021 to 2030
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Base year for estimation
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2020
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Historic Data
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2015 – 2019
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Forecast period
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2022 – 2030
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Quantitative units
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Demand in tons and CAGR from 2021 to 2030
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Report coverage
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Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
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Segments covered
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By Application: (Fuel and Power Generation)
By Type: (Vegetable Oil, Animal Fat)
By Sales Channel: (Vegetable Oil, Animal Fat)
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Regional scope
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North America; Europe; Asia Pacific; South America; Middle East & Africa
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Country scope
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United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
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Key companies profiled
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Australian Renewable Fuels Limited, Arizona Biodiesel, Ameresco Biofuels Corp., Cosan, Coskata, Sapphire Energy, Renewable Energy Group, Ag Environmental Products, Louis Dreyfus Corp, and others.
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Customization scope
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Free report customization with purchase. Addition or alteration to country, regional & segment scope.
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Pricing and purchase options
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Available Customizations:
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.
In case you can’t find what, you are looking for then please get in touch with our custom research team at sales@chemanalyst.com
