Europe Biodiesel Market to Grow at 5.15% During 2024-2032, Bolstered by Significant Rise in the Automotive Industry

October 13, 2021 | Chemical & Materials

The latest report by IMARC Group, titled “Europe Biodiesel Market Report by Feedstock (Vegetable Oils, Animal Fats, and Others), Application (Fuel, Power Generation, and Others), Type (B100, B20, B10, B5), Production Technology (Conventional Alcohol Trans-esterification, Pyrolysis, Hydro Heating), and Country 2024-2032,” finds that the Europe biodiesel market is expected to grow at a CAGR of 5.15% during 2024-2032. 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.

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.

Market Summary:

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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Feedstock, Application, Type, Production Technology, Country
Countries Covered	Germany, France, United Kingdom, Italy, Spain, Others
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3699 Five User License: US$ 4699 Corporate License: US$ 5699
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Europe Biodiesel Market to Grow at 5.15% During 2024-2032, Bolstered by Significant Rise in the Automotive Industry

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