Biodiesel Market is Forecasted to Reach US$ 75.34 billion in 2030, Says Stratview Research

The global biodiesel market is projected to witness a growth rate of 9.95% annually from 2024 to 2030, with an anticipated size of US$ 75.34 billion by 2030, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global biodiesel market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
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Report Highlights:
Market Size in 2030: US$ 75.34 billion
Growth (CAGR): 9.95% during 2024-2030
Forecast Period: 2024-2030
Trend Period: 2018-2022
Base Year: 2023
Number of Segments Covered: 3
Number of Tables & Graphs: 100+

Segment Insights on the Biodiesel Market:
The global Biodiesel market is segmented based on Feedstock type, Application type, and Region.

Based on application type - The market is segmented into fuel and power generation. Fuel is expected to remain the dominant and fastest-growing application in the market during the forecast period. Since it emits fewer volatile organic compounds (VOCs) than conventional fuels, such as diesel, the industry is anticipated to gain from an increase in demand for fuel in commercial vehicles as a substitute for crude oil. The product finds use in the marine industry since it is biodegradable, free of aromatics and sulfur, and non-toxic. It is anticipated to rise at a considerable CAGR over the projected period.

Based on feedstock type - The biodiesel market is segmented into vegetable oils and animal fats. Vegetable oil is expected to remain the dominant and fastest-growing feedstock in the market during the forecast period. The feedstock segment for vegetable oils is further divided into subsegments for canola oil, soybean oil, palm oil, corn oil, and others. The section for animal fats is further divided into sub-segments for poultry, tallow, white grease, and others. However, based on availability and feedstock costs, raw material selection differs by region. Palm oil has been extensively used in the manufacturing of biodiesel in nations like Indonesia, Thailand, Germany, France, and Colombia and is anticipated to be a significant feedstock for the industry.

To know the most attractive segments, visit:
https://www.stratviewresearch.com/3641/biodiesel-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

In terms of regions, Europe is expected to remain the largest market for biodiesel during the forecast 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.

Biodiesel Market Drivers:
Some of the key drivers listed in the report are given below.
• Rising Environmental Concerns - Increasing focus on reducing carbon emissions drives biodiesel adoption.
• Government Policies & Incentives - Supportive regulations and subsidies boost biodiesel production and consumption.
• Volatility in Crude Oil Prices - Fluctuating fossil fuel prices encourage the shift toward renewable alternatives like biodiesel.
• Growing Demand for Sustainable Fuels - Industries and consumers are prioritizing eco-friendly fuel solutions.
• Advancements in Feedstock Development - Innovations in feedstocks like algae, vegetable oils, and waste oils enhance production efficiency.

Top Companies in the Biodiesel Market:
Stratview Research has identified the following companies as the top market players.
• Ag Processing, Inc.
• Archer Daniels Midland Company (ADM)
• Bunge Limited
• Cargill, Inc.
• Ecodiesel Colombia S.A.
• FutureFuel Corporation
• Manuelita S.A.
• Renewable Biofuels, Inc.
• TerraVia Holdings Inc.
• Wilmar International Limite
Note: The above list does not necessarily include all the top players in the market.

What Unique Insights Does this Report Offer?

This report provides comprehensive insights into the Biodiesel Market, answering critical questions like:

• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
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This release was published on openPR.