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Biodiesel Market Increasing Demand with Leading Player, Comprehensive Analysis, Forecast 2025
Market Insights Reports delivers key insights on the Biodiesel market in its latest report titled, “Biodiesel Market - Growth, Trends, COVID-19 Impact, And Forecasts (2021 - 2025)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.The market for biodiesel is expected to grow at a CAGR of more than 7% in the forecast period of 2020 - 2025.
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Top Key Players in the Global Biodiesel Market: Renewable Energy Group, Inc, Archer Daniels Midland Company, Bangchak Corporation Public Company Limited, Wilmar International Ltd, Neste Oyj, Cargill Inc, BIOX Corporation, Ag Processing, Inc., and Others.
Key Market Trends:
Transportation Application is Expected to Dominate the Market
- Biodiesel is a renewable, clean-burning diesel replacement that can be used in existing diesel engines without modification. It is made from an increasingly diverse mix of resources such as recycled cooking oil, agricultural feedstock, and animal fats.
- The United States is a significant consumer of biodiesel. Some local, state, and federal government agencies with fleets of school and transit buses, snowplows, garbage trucks, mail trucks, and military vehicles use biodiesel blends, usually B20. Fuelling stations that sell biodiesel blends of B20 or higher to the public are available in nearly every state.
- Biofuel consumption in EU transportation reached almost 17 Mtoe in 2018, compared to 15.4 Mtoe in 2017, an increase of 10.1% In 2019. Biodiesel comprised of % share of biofuel in European union in 2018.
- Global biofuel production has increased to 699 thousand barrels of oil equivalent per day. With the increasing mandates on the blend of biodiesel, the output is expected to increase significantly in the forecast period.
- Due to the fluctuating prices of petroleum-based products, biodiesel is becoming an increasingly affordable option. The share of biodiesel in transportation fuel is expected to increase considerably.
Top Line Market Forecast:
Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2025 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.
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Asia-Pacific to Witness Significant Growth
- In December 2019, Indonesia became the first nation to mandate a B30 blend of palm-based fuel. The government allocated 9.59 million kiloliters of FAME for the B30 mandate in 2020, up from 6.63 million KL in 2019.
- In 2020, amid COVID-19 pandemic, The Indonesian government allocated USD 195 million from the state budget to subsidize producers of palm oil biodiesel, to boost the economy out of a pandemic-induced slump.
- On the other hand, in Malaysia, the mandate to manufacture biofuel with a 20% palm oil component - known as B20 witnessed a delay. The mandate is expected to be implemented across the country by mid-June 2021.
- India, with huge market potential, is aiming to increase the biodiesel share in the forecast period. The National Biofuel Policy of 2018 envisioned the formation of the supply chain or collection mechanisms to increase biodiesel production.
- With three new biodiesel plants in India, the total number of plants increased to 26 in 2019. The additional plants have increased the capacity significantly, and with upcoming projects, the production is likely to increase further.
- With the increasing blend percentage in countries like Malaysia, Thailand, and India, the Asia-Pacific region is expected to witness the highest growth rate in the forecast period.
This Biodiesel Market report addresses:
- The Market size from 2016-2021
- Expected market growth until 2025
- Forecast of how market drivers, restraints, and future opportunities will affect
- Segment and regions that will drive or lead the market growth and why
- Comprehensive mapping of the competitive landscape
- In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
All the reports that we list have been tracking the impact of COVID-19 on the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.
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