Biodiesel Market Size, Share, Analysis And Opportunities To 2028

The global Biodiesel market is projected to reach USD 42.97 Billion by 2028 from USD 34.6.8 Billion in 2021, at a CAGR of 11.29% from 2022 to 2028.
Biodiesel is a renewable, clean-burning diesel substitute that can be used in existing diesel engines without necessitating any modifications. It is composed of a rising variety of recycled cooking oil, agricultural feedstock, and animal fats. Growing demand for biodiesel to replace traditional fossil fuels in power generation and automotive applications is projected to boost the market growth. On account of the existence of several dealers and suppliers, the market is highly fragmented. The worldwide energy demand has been on the rise in recent years. The increasing energy demand has seen the carbon emissions to rise with more utilization of conventional fuels and, therefore also the need for substitute fuels for energy production. The biodiesel fuel is manufactured using the domestic and animal waste acts as a replacement for the conventional fuels in several sectors of its application. The various advantages of using biodiesel are its biodegradability, reduced dependency on conventional fuels and, reduced greenhouse gas emissions.

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Segment by Type
Rapeseed Oil Based Feedstock
Soybean Oil Based Feedstock
Waste and Residues Based Feedstock
Other

Segment by Application
Industrial Fuels
Transportation Fuels
Chemical

Recent developments
In Feb. 2022, SLD Pumps & Power (SLD) declared that it switched to using biodiesel fuel to power its nationwide equipment fleet. The alteration is likely to displace the consumption of about 1 million liters of highly polluting mineral diesel each year.
In April 2021, Continental Refining Company (CRC), Kentucky, participated an additional USD 20 million in the biodiesel project. It declared that it is moving forward with plans to invest an additional USD 20 million to gain and install a soybean crushing, biodiesel refining, and blending facility at the current CRC oil refinery in Somerset, Kentucky.

Segmentation Analysis
Based on the type of feedstock, the worldwide market is segmented into Vegetable Oils, Animal Fats, and Brown Grease/ Trap Grease. Among the mentioned types of feedstock, the vegetable oil segment has accounted for the main part of the global market share in 2021 and is expected to have the fastest growth rate in the proposed forecast period. The development is mainly attributed to the fact that they are widely used as they have less percentage of saturated fat hence reducing the cost of production. The vegetable oil segment has dominated the market in current years, and the trend is set to continue over the given forecast period. Based on its application the global biodiesel market can be section into transportation and power generation. The transportation segment acts as the main application segment for biodiesel to act as a substitute for automotive fuels to reduce harmful emissions. the animal fats section is sub-segmented into poultry, tallow, white grease, and others. In 2021, the vegetable oil segment accounted for the major share of more than 97.00% of the global revenue.

Product Portfolio: The Company has a product portfolio of Market that contains:
Biodiesel Market: Increasing competition among key companies, increasing horizontal and vertical expansion is further expected to fuel the growth of Market.
Key players operating the Biodiesel market includes Diester Industries, Neste Oil, ADM, Infinita Renovables, Biopetrol, Cargill, Ital Green Oil, Glencore, Louis Dreyfus, Renewable Energy, RBF Port Neches, Ag Processing, Elevance, Marathon Petroleum, Evergreen Bio Fuels, Minnesota Soybean Processors, Caramuru, Jinergy, Hebei Jingu, Longyan Zhuoyue, Greenergy UK, Biodiesel Amsterdam, SunOil, Petrotec, Biocom, SARIA Bio-Industries, Biodiesel Aragon, Bionor, Iniciativas Bioenergeticas

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Biodiesel Market Regional Analysis
Europe accounted for a share of more than 46.7% of the global market in 2021 and is projected to grow at a steady CAGR from 2022 to 2027. It has historically been the major market for the product due to early acceptance of the product in the region as well as government emphasis on replacing carbon-emitting sources with bio-based sources. Rapeseed oil, UCO, palm oil, soybean oil, animal fats, and sunflower oil are the maximum common feedstocks used to produce biodiesel in Europe. The product request in the region is primarily driven by Germany, which accounts for the highest share of feedstock production among the European countries.

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The report enables you to -
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- Progress market-entry and market expansion strategies
- Plan mergers and acquisitions successfully by identifying major players with the most promising pipeline
- In-depth examination of the product's current stage of development, territory and estimated launch date

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