In-Depth Analysis Of The COVID-19 Impact On The Biodiesel Market | Market Leader

Increasing demand for environmentally-friendly fuels that reduce greenhouse gas emissions and ensure complete burning is an important factor driving the biodiesel market. The support of the government for biodiesel production by providing subsidies and imposing mandates indicates a continued growth of the market.

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The vegetable oils segment accounted for the largest share of the market.

Feedstock obtained from vegetable oils such as rapeseed oil, soybean oil, and palm oil accounts for the largest share in the production of biodiesel. The feedstock used in a particular country depends on the availability of crops in that country. For instance, rapeseed oil is currently the most common feedstock used in biodiesel production, followed by soybean oil. Rapeseed oil is commonly used in many European countries for biodiesel production, whereas soybean oil is used in the U.S. and Argentina. Coconut oil and palm oil is used in Malaysia and Indonesia.

Fuel is projected to be the fastest-growing application of biodiesel during the forecast period.

Fuel application accounted for the largest share of in 2015, owing to the increasing consumption of biodiesel fuel in marine, automotive, railway, and agriculture industries. Biodiesel has a higher lubricity (50:1) than that of conventional petroleum diesel, which is also driving its application as fuel.
 
Europe is estimated to account for the largest market share during the forecast period.

Europe is the leading market of biodiesel, globally. However, Europe is projected to grow at a very low CAGR of in terms of volume. This is due to the saturation of biodiesel market in Europe. Asia-Pacific is projected to be the fastest-growing region.

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Recent Developments

• In November, Renewable Energy Group Inc. started expansion of its Ralston, IA bio-refinery worth USD 24 million. This expansion will increase the annual production capacity to 30 million gallon from 12 million gallon and will help the company to serve the increasing demand of biodiesel in the U.S.

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Master The Skills Of Biodiesel Market And Be Successful.

The report “Biodiesel Market by Feedstock Type (Vegetable Oils (Soybean, Rapeseed, Palm), Animal Fats (Lard/White Grease, Poultry, Tallow), Brown Grease/ Trap Grease), Application (Fuel, Power Generation), and Region.  Increasing demand for environmentally-friendly fuels that reduce greenhouse gas emissions and ensure complete burning is an important factor driving the biodiesel market. The support of the government for biodiesel production by providing subsidies and imposing mandates indicates a continued growth of the market.

♦ Market Dynamics

• Drivers

Potential to reduce emissions

• Restraints

Performance concerns

• Opportunities

OEM support for biodiesel continues to grow

• Challenges

Easy availability of raw materials in emerging regions leading to overcapacity

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Companies covered -

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)

The vegetable oils segment is estimated to lead the biodiesel market

Vegetable oils obtained from the feedstock, such as soybean, palm, and rapeseed are used to produce biodiesel. Biodiesel obtained from vegetable oils is preferred across various industries, as it contains less saturated fat that makes it easy to process, thus reducing the overall manufacturing cost. Furthermore, the feedstock required to manufacture vegetable oils is more easily available as compared to animal fats and greases.

The fuel application segment is estimated to lead the biodiesel market

Fuel is estimated to be the leading segment of the biodiesel market, followed by power generation. Biodiesel is preferred as a fuel, as it reduces wear and tear of the engine and ensures complete fuel combustion. Additionally, biodiesel offers better fuel economy over fossil fuels.

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Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/

What’s So Trendy About Biodiesel Market That Everyone Went Crazy Over It?

The biodiesel market size was is estimated to be USD 34.1 billion, in 2016, and is projected to reach USD 41.2 billion, by 2021, at a CAGR of 3.8%, between 2016 and 2021. Increasing demand for environmentally-friendly fuels that reduce greenhouse gas emissions and ensure complete burning is an important factor driving the biodiesel market. The support of the government for biodiesel production by providing subsidies and imposing mandates indicates a continued growth of the market.

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The vegetable oils segment accounted for the largest share of the market.

Feedstock obtained from vegetable oils such as rapeseed oil, soybean oil, and palm oil accounts for the largest share in the production of biodiesel. The feedstock used in a particular country depends on the availability of crops in that country. For instance, rapeseed oil is currently the most common feedstock used in biodiesel production, followed by soybean oil. Rapeseed oil is commonly used in many European countries for biodiesel production, whereas soybean oil is used in the U.S. and Argentina. Coconut oil and palm oil is used in Malaysia and Indonesia.

Fuel is projected to be the fastest-growing application of biodiesel during the forecast period.

Fuel application accounted for the largest share of in 2015, owing to the increasing consumption of biodiesel fuel in marine, automotive, railway, and agriculture industries. Biodiesel has a higher lubricity (50:1) than that of conventional petroleum diesel, which is also driving its application as fuel.

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Biodiesel Market, By Application

• Fuel
• Power Generation
• Others(Solvents, Diluent, Coatings, Printing Inks, Adhesives)
• Automotive (On road vehicles, Off road vehicles)
• Marine
• Agriculture
• Others

Market Dynamics

Drivers

Potential to reduce emissions

Biodiesel is simple to use, biodegradable, and non-toxic in nature and, most importantly, it is free of aromatics, and sulfur compounds. It emits lower greenhouse gases and air pollutants, reduces toxic carbon-based emissions and can be used in most diesel engines. The increasing concern regarding greenhouse gas emissions through the use of fossil fuels is driving the growth of the biodiesel market. Biodiesel reduces emission of greenhouse gases by up to 50% as compared to petroleum diesel; and also has low toxic and carcinogenic aromatic carbon content. The U.S. consumed approximately 2 billion gallons of biodiesel in 2015, which resulted in the reduction of carbon emissions by at least 18.2 million metric tons, according to new U.S. EPA data.

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Global Biodiesel Market Industry Leaders & New Revenue Pockets

The global biodiesel market is projected to reach USD 41.18 billion by 2021, at a CAGR of 3.8% from 2016 to 2021. Biodiesel is a used as a fuel in pure form B100 or by forming blends with conventional petroleum diesel. These blends include B2, B5, and B20 that contain 2%, 5%, and 20% biodiesel, respectively. Biodiesel is environmental-friendly, non-toxic, and readily biodegradable fuel, as it is produced from natural elements such as vegetable oils, animal fats, and greases. It finds usage in end-use industries, such as automotive, power generation, marine, railway, agriculture, and mining. The growing demand for biodiesel from these end-use industries is expected to lead to its increased demand in the biodiesel market.

The demand for biodiesel is increasing from the transportation industry, as it increases lubricity, ensures complete fuel combustion, and reduces greenhouse gas emissions. Government initiatives to control air pollution have increased the consumption of biodiesel as a substitute for petroleum-based fuels.

The use of vegetable oils, such as soybean, rapeseed, and palm for producing biodiesel is increasing due to their easy availability in different countries. Vegetable oils are preferred feedstock, as they contain less saturated fat that makes them easy to process, thus reducing the manufacturing cost.

Europe is the largest market for biodiesel, followed by North America. The high demand in the Europe region can be attributed to the rising environmental awareness and government measures to reduce greenhouse gas emissions. The biodiesel market in Asia-Pacific is projected to witness highest growth from 2016 to 2021, due to the easy availability of feedstocks such as palm oil, waste cooking oil, and animal fat in the region.

Major players in the Biodiesel Market employed organic as well as inorganic growth strategies, such as expansions, acquisitions, agreements & joint ventures, and new product developments to expand their business. The key companies operating in this market are enhancing their presence in the emerging markets and strengthening their distribution network, globally. The growth strategies used by the market players are expected to lead to the sustainable growth of the biodiesel market in the future.

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 TerraVia Holdings Inc. (U.S.) are the key companies manufacturing biodiesel and have a strong foothold in the biodiesel market.

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