Europe Biodiesel Market is Growing with Promising CAGR of Around 4.7% by 2029

Europe Biodiesel Market is expected to gain significant growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyzes that the market is growing with a CAGR of 4.7% in the forecast period of 2022 to 2029 and is expected to reach USD 43,330.31 million by 2029. Some of the major factors driving the market growth are growing demand for eco-friendly fuels, high compatibility of biodiesel with existing diesel engines, and rapidly depleting reserves of fossil fuels.

Biodiesel is becoming a more affordable option due to the unstable prices of petroleum-based products. The biodiesel market is developing in response to public pressure to reduce emissions and replace fossil fuels due to environmental concerns and concerns over rapidly depleting crude oil reserves across the globe. Moreover, the use of biodiesel boosts the fuel's cetane number and improves its lubricity.

Europe biodiesel market report provides details of market share, new developments, impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.

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Market Definition

Biodiesel is obtained from renewable feedstock such as vegetable oil and animal fats by utilizing a chemical procedure called trans-esterification which converts oil and fats into fatty acids methyl esters. It is employed as a substitute for petroleum diesel fuel and is often combined with petroleum diesel fuel for other parts. It is efficient to decrease exhaust release when compared to petroleum diesel fuel. It has applications in automotive, marine, aviation, industrial, and other industries. In marine industry, it is used as an excellent material as shipping fuel, being biodegradable and non-toxic in nature.

Europe Biodiesel Market Dynamics
DRIVERS

Growing demand for environment-friendly fuels
Biodiesel fuel is similar to diesel fuel but is much more eco-friendly. Biodiesel is a clean, non-polluting energy source. This green transition is seen as a catalyst for the biodiesel market, paving the way for biodiesel suppliers. The need to integrate renewable energy sources is driving the demand for biodiesel. Biodiesel is expected to grow fast in popularity as a replacement for conventional fossil fuels in various applications. Biodiesel is helping several countries across Europe to decrease their reliance on foreign oil reserves and imports, since it is manufactured domestically and deployed in a diesel engine with minor or near modifications. Moreover, second-generation and third-generation biofuels, such as those produced using algae, have a greater potential to reduce emissions. Therefore, the growing demand for eco-friendly and sustainable fuels and energy sources across various industries is expected to drive the demand for biodiesel, which in turn is expected to drive market growth.

High compatibility of biodiesel with the existing diesel engines

The industry is expected to benefit from increased demand for fuel in commercial vehicles as a replacement for crude oil as it emits fewer Volatile Organic Compounds (VOCs) than traditional fuels, such as diesel. The main target for biodiesel consumption is fuel and power generation applications. Today, automotive and marine industries are using a majority of the fuel produced, which uses components of crude oil in heavy quantities. These conventional fuels release toxicants into the environment. Also, in power generation, biodiesel can be used in generators where only a few changes or no changes are needed to be done to the structure of machine.

Rapidly depleting reserves of fossil fuels

The limited availability and surging prices of non-renewable energy sources, such as petrol, diesel, and Liquefied Petroleum Gas (LPG) are favoring the utilization of biodiesel in various industries. Biofuel production and its uses in industries and transportation considerably minimize fossil fuel dependence. Furthermore, a growing preference for replacing fossil fuels, which are associated with higher Greenhouse Gas (GHG) emissions, with biofuel such as biodiesel, which is renewable and biodegradable, is influencing the demand in various European countries.

Europe Biodiesel Market Scope

Europe biodiesel market is segmented into four notable segments based on feedstock, blend, production technology, and application. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.

Feedstock

Vegetable Oil
Animal Fats

Based on feedstock, the market is segmented into vegetable oil and animal fats.

Blend

B20
B10
B5
B100

Based on a blend, the market is segmented into B100, B20, B10, and B5.

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Production Technology

Trans-Esterification
Pyrolysis
Hydro Heating
Dilution
Micro-Emulsification
Others
Based on production technology, the market is segmented into trans-esterification, pyrolysis, hydro heating, dilution, micro-emulsification, and others.

Application

Fuel
Power Generation
Others

Competitive Landscape and Europe Biodiesel Market Share Analysis

Europe biodiesel market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies' focus related to the market.

Some of the prominent participants operating in the Europe biodiesel market are Louis Dreyfus Company, Münzer Bioindustrie GmbH, Bio-Oils Energy, Argent Energy, Eco Fox Srl, ecomotion.de, ECODIESEL COLOMBIA S.A., ADM, Neste, Renewable Energy Group, VERBIO Vereinigte BioEnergie AG, Petróleo Brasileiro S.A. - Petrobras, and Cargill, Incorporated.

Research Methodology

Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by the DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning grids, Market Time Line Analysis, Market Overview and Guide, Company Positioning grids, Company Market Share Analysis, Standards of Measurement, Europe Vs Regional, and Vendor Share Analysis. Please request an analyst call in case of further inquiry.

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Reasons to Get this Report:

Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects

Regional and country-level analysis integrating the demand and supply forces that are influencing the growth of the market

Market value USD Million and volume Units Million data for each segment and sub-segment

Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years

Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

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