Press release
Biodiesel Market to Reach Valuation of US$ 187.6 Bn by 2031
Transparency Market Research delivers key insights on the global biodiesel market. In terms of revenue, the global biodiesel market is estimated to expand at a CAGR of 6.9% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecast in its report on the global biodiesel market.
๐๐๐๐ ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ - https://www.transparencymarketresearch.com/biodiesels-market.html
The global biodiesel market is broadly affected by several factors including increase in usage of biodiesel in various end-use industries such as fuel, agriculture, and power generation. Rise in global demand for fuel has led to significant growth in usage of biodiesel. Increase in production and demand for fuel is expected to be the primary driver of the global biodiesel market.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ -
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=291
๐๐ข๐จ๐๐ข๐๐ฌ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ: ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
Biodiesel is a biodegradable, renewable fuel that is manufactured domestically from vegetable oil or animal fat. Several methods such as common batch processes, ultrasonic methods, and microwave methods are being used to produce biodiesel. Biodiesel obtained from non-mineral sources such as animal fat is used in standard diesel engines.
Biodiesel is a clean-burning and renewable fuel. It is employed on a large scale in several industries such as automotive, marine, mining, and railway. The need to integrate renewable energy sources is driving the demand for biodiesel. Biodiesel is expected to grow in popularity as a replacement for conventional fossil fuels in automotive applications.
Biodiesel is simple to use, biodegradable, and non-toxic. It is free of aromatics and sulfur compounds. It emits lower greenhouse gases and air pollutants, reduces toxic carbon-based emissions, and can be used in most diesel engines. Increasing concern regarding greenhouse gas emissions through the use of fossil fuels is driving the biodiesel market. Biodiesel reduces the emission of greenhouse gases by up to 50% as compared to petroleum diesel; and also has low toxic and carcinogenic aromatic carbon content.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก -https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=291
Biodiesel is composed of renewable feedstock such as vegetable oils and animal fat. Biodiesel produced from animal tallow tends to crystallize at much higher temperatures than biodiesel derived from plant oils. Biodiesel is capable of reducing exhaust emissions vis-ร -vis petroleum diesel fuel. It is majorly used in automotive, aerospace, industrial, marine, and agriculture industries.
The global fuel segment is expected to expand considerably during the forecast period. Thus, rise in production of fuel is projected to boost the demand for biodiesel during the forecast period.
Manufacturers are focusing on fuel, as the share held by this segment in the biodiesel market is likely to increase during the forecast period.
๐๐ข๐จ๐๐ข๐๐ฌ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ: ๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ ๐ข๐จ๐ง๐ฌ
Europe holds major share of the global biodiesel market. The market in the region is anticipated to expand at a CAGR of more than 7.3% during the forecast period. Increase in demand for biodiesel in various application such as fuel, agriculture, and power generation is driving the biodiesel market in Europe. Germany is a key country of the biodiesel market in Europe. It held significant share of the biodiesel market in Europe in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
Asia Pacific is also a prominent region of the global biodiesel market. China led the biodiesel market in Asia Pacific in 2020. Increase in demand for biodiesel in the transportation sector is driving the market in China.
๐๐๐ค๐ ๐๐ง ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ -https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=291
๐๐ข๐จ๐๐ข๐๐ฌ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ฃ๐จ๐ซ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
The global biodiesel market is consolidated, with the presence of key players. Prominent players operating in the global biodiesel market include TerraVia Holdings, Cargill, Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, Louis Dreyfus, Royal Dutch Shell plc, Ineos Group, Mitsui, and Solvay SA.
๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐จ๐๐ข๐๐ฌ๐๐ฅ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
Biodiesel Market, by Feedstock Type
Soybean Oil
Distillers Corn Oil
Canola Oil
Yellow Grease
Animal Fat
Biodiesel Market, by Application
Fuel
Agriculture
Power Generation
Others (including Transportation and Cooking)
Biodiesel Market, by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
ASEAN
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC Countries
South Africa
Rest of Middle East & Africa
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ
Rohit Bhisey
Transparency Market Research Inc.
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