Press release
Biodiesel Market in India 2023: Industry Propelled by the Rising Environmental Consciousness
India Biodiesel Market Report 2023
How big is the India biodiesel market?
The India biodiesel market size reached US$ 383.4 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 643.0 Million by 2028, exhibiting a growth rate (CAGR) of 9.36% during 2023-2028.
Biodiesel refers to clean and green burning fuels that are produced via the transesterification, pyrolysis, or hydro heating of non-edible and edible oils. They can be broadly categorized into B100, B20, B10, B5, and other types. These biodiesel variants are renewable, carbon-neutral, non-toxic, and cost-effective as compared to conventional sources of fuel. They further prove highly efficient in improving the lubrication of an engine and enhancing engine life. Consequently, biodiesel products find extensive applications across numerous sectors in India, such as agriculture, automotive, power generation, marine, mining, etc.
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Market Trends and Growth Drivers:
The inflating prices of petrol and diesel and the rising demand for energy are primarily driving the India biodiesel market. Besides this, the shifting preferences towards replacing traditional fossil fuels utilized in power generation and automobiles for reducing greenhouse gas (GHG) emissions are also positively influencing the market across the country. Additionally, the increasing usage of the fuel variant as a heating agent in both domestic and commercial boilers is acting as another significant growth-inducing factor. Furthermore, the launch of various favorable policies and tax rebates by the government bodies aimed at promoting the utilization of renewable fuels and the escalating investments in the development of new biofuel production plants are expected to propel the India biodiesel market in the coming years.
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India Biodiesel Industry 2023-2028 Competitive Analysis and Segmentation:
Key Market Segmentation:
The report has segmented the market into the following categories:
Breakup by Feedstock:
• Vegetable Oils
• Animal Fats
• Others
Breakup by Application:
• Fuel
• Power Generation
• Others
Breakup by Type:
• B100
• B20
• B10
• B5
Breakup by Production Technology:
• Conventional Alcohol Trans-esterification
• Pyrolysis
• Hydro Heating
Breakup by Region:
• North India
• West and Central India
• South India
• East India
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The report covers the key players of the business including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin Sales with an exhaustive investigation of the market's competitive landscape and definite data on vendors and thorough subtleties of elements that will challenge the development of significant market vendors.
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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