Global Biodiesel Market Size, Trends & Analysis - Forecasts to 2026

Global Biodiesel Market

The global biodiesel market is estimated to witness a moderate CAGR during the forecast period. Biodiesel are alternative fuels which are similar to conventional fuels except they do not produce harmful toxins. The demand for biodiesel is driven by growing urbanization in developed as well as developing countries. Growing urbanization is also expected to increase the demand for energy hence it will boost the use of biodiesel. With the growing usage of biodiesel, the green-house gases can be used up to 80%. The continuous research & development in the energy and power sector to reduce environmental impact may push the growth of the global biodiesel market. Growing automotive industry across the world is further expected to drive the demand for biodiesel during the forecast period. However, the presence of various substitutes and low combustion energy are anticipated to restrain the growth of the global biodiesel market.

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Global Biodiesel Market: Vegetable Oil to see fastest growth during the forecast period

The vegetable oil segment is expected to have the dominating position in the feedstock segment. In the vegetable oil, different oils like canola oil, soybean oil, palm oil, and corn oil among others are used. The ease of availability of vegetable by product in the production of biodiesel is a major factor for the growth of the vegetable oil segment. Growth of the global biodiesel market is due to the fact that they are obtained from biological processes and these can be manufactured using any form of oil-rich crop including palm oil, soy and sunflower among others. These crops are grown naturally in all the regions across the world, hence, making biofuels the most eco-friendly form of energy resource to use.

Global Biodiesel Market: Power generation is expected to dominate the application segment

The market for application is majorly influenced due to the multiple properties of biodiesel such as high cetane value, low Sulphur content and outstanding lubricating properties among others. Growing case of global warming is one of the major factors expected to propel the growth of market over the forecast period. The global inclination towards clean energy is increasing significantly, and is projected to attract significant investment in the power generation segment. Increased demand by fuel companies coupled with fast growing automotive industry are some of the other factors expected to propel the market of fuel in the application segment.

Global Biodiesel Market: Europe will continue to dominate the market

Europe is dominating the market over the forecast period, owing to presence of leading manufactures in this region. The market growth in the region is attributed to multiple factors such as developing economies, and industrialization among others. The market for biodiesel in the region is majorly dominated by Germany, UK and France. Growing technological advancement and increase in number of R&D activities in the countries are some of the major factors influencing the market growth. The market for biodiesel is expected to generate heavy revenue over the coming years from the Asia Pacific region. The demand for biodiesel is also expected to increase owing to large off shore activities in these regions.

Global Biodiesel Market: End Use Landscape

The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section briefs you about company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase. The key end-users of the markets are John Deere, Siemens and BP among others.

Global Biodiesel Market: Vendor Landscape

The report contains a chapter dedicated to vendors operating in the market, covering raw material manufactures, equipment developers, manufacturers, and distributors. The report provides these insights on a regional level. This section of the report entails contact details, experience, products manufactured/supplied, and geographical presence of companies.

Global Biodiesel Market Share & Competitor Analysis

Some of the key players operating in the Biodiesel market are Archer Daniels Midland Company (ADM), Wilmar International Limited, Neste Corporation, Cosan and Renewable Energy Group, among others.

In July 2018, Archer Daniels Midland Company signed an agreement to acquire Neovia for Euro 1.5 billion. The company is engaged in providing benefits form a multi-activities, and multi-areas experience

In January 2018, Cargill signed an agreement to acquire Pro-Pet. The company is engaged in the manufacturer of private label and co-manufactured pet foods

In January 2016, Renewable Energy Group, Inc. and ExxonMobil (a global leader in advanced fuel research) signed an agreement to study biodiesel produced by fermenting agricultural waste. This research is aimed at discovering breakthrough technologies that will increase energy supply and reduce greenhouse gas emissions

In October 2016, Neste Corporation announced that the San Diego, California is using Neste Renewable Diesel in its fleet vehicles such as refuse packers, construction equipment, dump trucks and service trucks. This is expected to reduce greenhouse gas emissions by 80% and help improve the air quality thus contributing to the San Diego's ambitious climate targets

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