*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Biodiesel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
The global biodiesel market was worth US$ 34.2 Billion in 2019. 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. Looking forward, IMARC Group expects the market to exhibit moderate growth during 2020-2025.
Historical, Current and Future Market Trends
Market Breakup by Feedstock:
Market Breakup by Application:
Market Breakup by Type:
Market Breakup by Production Technology:
Conventional Alcohol Trans-esterification
Market Breakup by Region:
Middle East and Africa
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., Cargill Inc., Bunge Limited, Neste Corporation, Louis Dreyfus Company, BIOX Corporation, Münzer Bioindustrie GmbH, Diester Industrie, BTG International Ltd, DuPont, VERBIO, China Clean Energy Inc., CropEnergies AG , INEOS, etc.
Sudden outbreak of the COVID-19 pandemic has 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 production technology, the market has been categorized into conventional alcohol trans-esterification, pyrolysis, and hydro heating. At present, conventional alcohol trans-esterification exhibits a clear dominance in the market.