The latest report by IMARC Group, titled “Europe Biodiesel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the Europe biodiesel market is expected to witness moderate growth during 2021-2026. Biodiesel is a renewable form of fuel obtained from vegetable oil and animal fat through the chemical process of transesterification. The process converts the oil and fat into fatty acid methyl ester. Some common raw materials used for producing biodiesel include corn oil, palm oil, canola oil, soybean oil, and jatropha oil. Also known as green diesel, biodiesel is used as an efficient alternative to petroleum diesel fuel that is capable of reducing exhaust emissions. In addition, biodiesel burns cleaner than fossil fuels as it does not produce sulfur as a residue or other harmful chemicals. It is also cost-effective, carbon-neutral, and non-toxic in nature. As a result, biodiesel finds extensive applications across the automotive, aviation, marine, railway, agriculture, and mining industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Europe Biodiesel Market Trends:
The market is primarily driven by the rising demand for environment-friendly fuel that reduces greenhouse gas emissions across Europe. Biodiesel is known to reduce emissions and has low toxic and carcinogenic aromatic carbon content. Besides this, the shifting focus of the growing automotive sector toward utilizing clean and renewable fuel sources is also propelling the market growth. In addition to this, the continuously fluctuating prices of petroleum-based products make biodiesel an affordable option in the region. As a result, the European Union (EU) is increasingly supporting biodiesel production by providing subsidies and imposing mandates to reduce the dependence on foreign oil reserves. Furthermore, growing research and development (R&D) activities in the feedstock selection for manufacturing biodiesel are fueling the market growth.
- Based on the feedstock, the market has been segmented into vegetable oils, animal fats, and others.
- On the basis of the application, the market has been classified into fuel, power generation, and others.
- The market has been categorized based on the type into B100, B20, B10, and B5.
- On the basis of the production technology, the market has been segregated into conventional alcohol trans-esterification, pyrolysis, and hydro heating.
- Region-wise, the market has been divided into Germany, France, the United Kingdom, Italy, Spain, and others.
- The competitive landscape of the market has been examined in the report, with the detailed profiles of some of the key players operative in the industry.
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