Green Diesel Market Size | Share | Growth Industry 2022-2028

The global green diesel market size was valued at USD X billion in 2021 and is poised to grow at a significant CAGR of X% during the forecast period 2022-28. Green diesel, also known as biodiesel, is a superior-quality alternative fuel that is clean and renewable and has a molecular structure that is similar to that of petroleum and diesel. It serves as an alternative or is combined with diesel and petroleum. Triglycerides, which are present in vegetable oils and can be hydrotreated with hydrogen to make green diesel, are branching, paraffin-based products. The hydrotreating reaction combines the hydrodeoxygenation reaction to remove oxygen, the decarbonylation reaction to remove carbon monoxide and water, and the decarboxylation reaction to remove carbon dioxide. Compared to gasoline, green diesel is more cost effective and produces fewer emissions. Because of these advantages, it is used all over the world in a variety of industries, including food and beverage and oil and gas.

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Green Diesel Market Growth Factors:
This industry is expanding as a result of rising biodiesel consumption, environmental concerns, and the desire for sustainable fuels in both transportation and power generation. The performance issues with diesel engines, however, are anticipated to limit this market's expansion to some degree. Government assistance from North America, Latin America, Europe, and Asia-Pacific nations is also anticipated to provide important potential prospects for market participants in the biodiesel industry. Several economies were negatively impacted by the COVID-19 epidemic. Full shutdown and quarantine to stop the virus's spread had a negative effect on numerous industries worldwide. During the early phases of the pandemic, manufacturing facilities all around the world were shut down. During the epidemic, the automotive industry was one of the most severely impacted sectors. The biodiesel market experienced disruptions in all aspects of the value chain, from the supply of raw materials to government shortages and distribution, in addition to logistics and freight transportation.

Because of the pandemic's limits on employee migration, the automotive industry's demand for biodiesel fell, which led to the shutdown of production facilities. Due to the frequent lockdowns, production and commerce movements were also hampered.

The global green diesel market segmentation:
1) By Type: B100, B20, B10, B5
2) By Raw Material: Vegetable Oils, Animal Fats, Others
3) By Technology: Hydrotreating Technology, Biomass-to-liquid Technology, Pyrolysis-Rapid Thermal Technology, Other Technologies
4) By Application: Fuel, Power Generation, Others

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Green Diesel Market Regional Analysis:
In 2021, Europe held a market share of more than 45.6% and is anticipated to expand at a constant CAGR over the projected period. Due to the region's early adoption of the product and the government's emphasis on using bio-based sources instead of carbon-emitting ones, it has historically been the product's largest market. The most popular feedstocks used to make biodiesel in Europe include rapeseed oil, UCO, palm oil, soybean oil, animal fats, and sunflower oil. Germany, which produces the most feedstock among the European nations, is the main force behind the product demand in the area.

Key players in the Green Diesel Market report are Cargill, Darling Ingredients Inc., Emirates National Oil Company (ENOC), ENI Venice Biorefinery, Honeywell International Inc.,, Neste Oyj, Preem Aktiebolag, Renewable Energy Group, Inc., Sinopec Limited, Synergy Teletech Pvt Ltd, Valero Energy Corporation (Valero)

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