Biodiesel Market Share, Industry Analysis & Forecast Report 2024-2029.

According to the latest research report published by Market Data Forecast, the global biodiesel market is expected to grow at a CAGR of 4.21% during the forecast period 2024-2029. The market value was at USD 131.41 billion in 2023, and the value is expected to reach USD 168.30 billion by the end of 2029.

Biodiesel is an extract from plants and animals that is used as fuel in diesel engines and is made via transesterification. Though the usage of biodiesel has spread to multiple industries, the extensive usage of biodiesel has been found in the automobile and trucking industries.

Global Biodiesel Market Report Scope:

• Market Size (2029): USD 168.30 Billion
• Market Size (2023): USD 131.41 Billion
• CAGR (2024 to 2029): 4.21%
• Base Year: 2023
• Forecast Period: 2024 to 2029
• Segments Analysed: Blend, Feedstock, Application, and Geography
• Geographies Covered: North America, Europe, APAC, Latin America, and Middle East & Africa
• Key Market Players Profiled: Archer-Daniels-Midland Company, Ag Processing Inc., Avril Group, Biodiesel Bilbao S.L., Cargill Inc., Emami Agrotech Ltd, FutureFuel Chemical Company, G-Energetic Biofuels Private Limited, Louis Dreyfus Company, Münzer Bioindustrie GmbH, Renewable Energy Group, VERBIO Vereinigte BioEnergie AG, Wilmar International Limited and World Energy LLC., and Others.

Market Drivers:

The market demand is influenced by a growing desire for biofuel, which is renewable and biodegradable, as opposed to fossil fuels, which are linked to increased greenhouse gas emissions. The use of biodiesel in the first half of 2020 is impacted by COVID-19. Additionally, the market is expected to develop due to the rising demand for gas that reduces greenhouse gas emissions and is environmentally benign. In addition, government support in the form of mandates and subsidies points to the industry's continued success.

Furthermore, the biodiesel market is stimulated globally by the growing need for cleaner fuels. Market expansion is being driven by enhanced regulatory support, consumer help, geopolitical support, and support for agriculture and the economy. Vegetable oils can be used to produce biodiesel, which is widely used in many industries due to its low saturated fat content, which facilitates production and lowers overall costs. Moreover, compared to the feedstock needed to generate greases and animal fats, vegetable oils can be produced with far greater accessibility. The fuel application type segment is expected to lead the market, with power generation following closely behind.

Additionally, Europe is anticipated to be the product's main market. The robust product demand in the automotive industry, coupled with various government initiatives aimed at reducing greenhouse gas emissions, is anticipated to propel market growth.

Market Restraints:

The high cost of feedstock for the manufacturing of biodiesel is impeding market expansion. The demand for clean-burning fuels like biodiesel, which are preferred over conventional petroleum-based fuel, is influenced by the agricultural commodities market. The most common feedstock used in the production of biodiesel is vegetable oil, which includes canola, soybean, and palm oils. Feedstock costs account for 80-85% of total production costs. Long-term financial stability for producers of biodiesel is at risk due to the extreme price volatility of the feedstocks they use. Profit will be decreased since feedstock costs would rise in tandem with biodiesel prices.

Additionally, using biodiesel fuel mixes may affect the need for oil drain intervals and deteriorate the performance of diesel engines. When utilising biodiesel in an engine, there are several fuel compatibility considerations to take into account. To prevent any negative effects on the engine, many engine manufacturers restrict the use of biodiesel in various engine models.

Moreover, another problem with biodiesel is the challenges posed by increased lubricity when switching from conventional systems to biodiesel. Owners of diesel vehicles are advised by the EPA to replace their fuel filters following the initial fuel tank.

Browse full details of the report @ https://www.marketdataforecast.com/market-reports/biodiesel-market

Key Insights from The Report:
• Based on blend, the B100 segment led the market and accounted for the largest share of the global market in 2023.
• Based on feedstock, the vegetable oil segment occupied the majority of the global market share in 2023.
• Based on application, the fuel segment captured the highest share of the global market in 2023.
• Europe dominated the biodiesel market in 2023. Asia-Pacific accounted for the second-highest share of the global market in 2023 and on the other hand, the North America region is estimated to grow at the fastest CAGR during the forecast period.

SEGMENTATION INCLUDED IN THIS REPORT:

By Blend:
• B100
• B20
• B10

By Feedstock:
• Vegetable Oils
• Animal Fats
• Used Cooking Oil (UCO)
• Other Feedstock

By Application:
• Fuel
• Power Generation
• Other Applications

TABLE OF CONTENTS:

1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods

2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline

3. Report Overview
3.1 Executive Summary
3.2 Key Inferences

4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends

5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquisition Landscape
5.3 Joint Ventures & Collaborations

6. Market Segmentation
6.1 Biodiesel Market, By Feedstock
6.1.1 Vegetable Oils
6.1.2 Animal Fats
6.1.3 Used Cooking Oil (UCO)
6.1.4 Other Feedstock
6.1.5 Market Size Estimations & Forecasts (2023-2028)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Biodiesel Market, By Application
6.2.1 Fuel
6.2.2 Power Generation
6.2.3 Other Applications
6.2.4 Market Size Estimations & Forecasts (2023-2028)
6.2.5 Y-o-Y Growth Rate Analysis
6.2.6 Market Attractiveness Index
6.3 Biodiesel Market, By Blend
6.3.1 B100
6.3.2 B20
6.3.3 B10
6.3.4 B5
6.3.5 Market Size Estimations & Forecasts (2023-2028)
6.3.6 Y-o-Y Growth Rate Analysis
6.3.7 Market Attractiveness Index

7. Geographical Landscape
7.1 Global Biodiesel Market, by Region
7.2 North America - Market Analysis (2023-2028)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Feedstock
7.2.3 By Application
7.2.4 By Blend
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Feedstock
7.3.3 By Application
7.3.4 By Blend
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Feedstock
7.4.3 By Application
7.4.4 By Blend
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Feedstock
7.5.3 By Application
7.5.4 By Blend
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Feedstock
7.6.3 By Application
7.6.4 By Blend

8. Key Player Analysis
8.1 Archer-Daniels-Midland Company
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Ag Processing Inc.
8.3 Avril Group
8.4 Biodiesel Bilbao S.L.
8.5 Cargill Inc.
8.6 Emami Agrotech Ltd
8.7 FutureFuel Chemical Company
8.8 G-Energetic Biofuels Private Limited
8.9 Louis Dreyfus Company
8.10 Münzer Bioindustrie GmbH

9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures

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This release was published on openPR.