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The global biodiesel market size reached US$ 40.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 52.7 Billion by 2027, exhibiting a growth rate (CAGR) of 4.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Biodiesel, or green diesel, is a renewable, clean-burning alternative fuel that is produced through the transesterification of recycled cooking oils and animal fats. The process has two products, methyl esters (biodiesel) and glycerol. Biodiesel has properties similar to that of petroleum diesel, but in comparison, it is more economical, carbon-neutral and non-toxic. It also burns cleaner than fossil fuels and does not produce sulfur as a residue or other harmful chemicals. Owing to these benefits, it finds extensive application across automotive, marine, railway, agriculture and mining industries.
The increasing global energy demand and the growing need for clean and renewable fuel sources, represent the key factors driving the growth of the market. Furthermore, a thriving automotive industry is another major growth-inducing factor. Increasing environmental-consciousness and consumer awareness regarding the benefits of biodiesel have led to its widespread adoption across the globe. Additionally, the limited availability and surging prices of non-renewable energy sources such as petrol, diesel and Liquified Petroleum Gas (LPG) have favored the utilization of biodiesel. Various technological advancements such as the emergence of third-generation biofuels derived from algae that can produce a diverse and high quantity of biofuel as compared to other feedstocks are further creating a positive outlook for the market. Other factors such as the implementation of favorable government policies to promote its usage for sustainable development, energy conservation and environmental preservation are also projected to impact the market positively in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global biodiesel market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on feedstock, application, type and production technology.
Breakup by Feedstock:
Breakup by Application:
Breakup by Type:
Breakup by Production Technology:
Breakup by Region:
The report has also analyzed the competitive landscape of the market with some of the key players being Archer Daniels Midland Company (ADM), Wilmar International Limited, Renewable Energy Group Inc., Bunge Limited, Cargill, Incorporated, Neste Oyj, Louis Dreyfus Company B.V., Biox Corporation, Diester Industrie, Biomass Technology Group (BTG) BV, DuPont, POET, Verbio Vereinigte BioEnergie AG, China Clean Energy, Inc., CropEnergies AG, INEOS AG, etc.
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2021 |
| Historical Period | 2016-2021 |
| Forecast Period | 2022-2027 |
| Units | US$ Billion |
| Segment Coverage | Feedstock, Application, Type, Production Technology, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Companies Covered | Archer Daniels Midland Company (ADM), Wilmar International Limited, Renewable Energy Group Inc., Bunge Limited, Cargill, Incorporated, Neste Oyj, Louis Dreyfus Company B.V., Biox Corporation, Diester Industrie, Biomass Technology Group (BTG) BV, DuPont, POET, Verbio Vereinigte BioEnergie AG, China Clean Energy, Inc., CropEnergies AG and INEOS AG |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
According to the estimates by IMARC Group, the global biodiesel market is expected to witness a CAGR of 4.4% from 2022 to 2027.
The growing need for clean and renewable fuel sources based on the rising carbon emissions from petroleum diesel, represents one of the key drivers for the global biodiesel market.
Several technological advancements have led to the emergence of third-generation biofuels derived from algae, which represents one of the key trends in the global biodiesel market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries and production facilities of biodiesel.
On the basis of the feedstock, the market has been classified into vegetable oils, animal fats, and others. Amongst these, vegetable oils hold the largest market share.
On the basis of the application, the market has been divided into fuel, power generation, and others. At present, fuel exhibits a clear dominance in the market.
On the basis of the type, the market has been segmented into B100, B20, B10 and B5. Currently, B100 accounts for the majority of the total market share.
On the basis of the production technology, the market has been categorized into conventional alcohol trans-esterification, pyrolysis, and hydro heating. At present pyrolysis exhibits a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Europe dominates the global market.
The key companies in the global biodiesel market are Archer Daniels Midland Company (ADM), Wilmar International Limited, Renewable Energy Group Inc., Bunge Limited, Cargill, Incorporated, Neste Oyj, Louis Dreyfus Company B.V., Biox Corporation, Diester Industrie, Biomass Technology Group (BTG) BV, DuPont, POET, Verbio Vereinigte BioEnergie AG, China Clean Energy, Inc., CropEnergies AG, INEOS AG etc.
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