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Biodiesel Global Market Insights: Growth Drivers, Size & Forecasts to 2029
Biodiesel
What Is the Forecasted Market Growth Rate of the Biodiesel Industry?
In recent years, the biodiesel market has experienced significant growth. It's expected to rise from $57.91 billion in 2024 to $61.01 billion in 2025, indicating a compound annual growth rate (CAGR) of 5.3%. Factors such as escalating crude oil prices, environmental regulations, instability in the supply of fossil fuels, worries over energy security, increased consumer knowledge and preferences, as well as demand in the transportation sector, have contributed to growth during the historical period.
How Will the Biodiesel Market Size Evolve From 2025 to 2029?
The biodiesel market is projected to see robust expansion in the coming years, reaching a valuation of $76.9 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. This expected growth during the forecast period can be credited to the worldwide scale-up in biodiesel production, the emphasis on renewable aviation fuels, mandatory blending of biodiesel, advancements in distribution methods, and the expanse of eco-friendly agriculture. Important trends anticipated during the forecast period are the integration of technology into biodiesel production processes, advancements in the raw material technology, collaborative partnerships, investment poured into biodiesel infrastructure, and rigorous quality standards and certifications for biodiesel.
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What Are the Main Growth Drivers in the Biodiesel Market Today?
The biodiesel market is poised for growth, fueled by an increasing appetite for biofuels. Biofuels, which are cleaner-burning alternatives derived from renewable resources such as fresh and used vegetable oils and animal fats, are becoming increasingly desirable due to mounting environmental concerns and the growing demand for renewable, sustainable energy sources. Biodiesel, a type of biofuel, significantly aids in curbing the transportation and other industries' carbon emissions. In September 2024, IFP Energies Nouvelles (IFPEN), a US organization, reported a more than 2.7% increase in the share of alternative energies to oil-based gasoline and diesel fuels, including biofuels, LPG1, NGV2, and electricity. In 2022, these fuels accounted for 8.4% of the quantities consumed. Consequently, the accelerated demand for biofuels is propelling the growth of the biodiesel market.
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Which Biodiesel Market Segment Is Expected to Lead Through 2029?
The biodiesel market covered in this report is segmented -
1) By Feedstock: Vegetable Oil, Animal Fats
2) By Production Process: Alcohol Trans Esterification, Hydro-Heating
3) By Application: Fuel, Power Generation, Agriculture
Subsegments:
1) By Vegetable Oil: Soybean Oil, Canola Oil, Palm Oil, Sunflower Oil, Other Vegetable Oils
2) By Animal Fats: Tallow, Poultry Fat, Fish Oil, Other Animal Fats
Which Market Trends Are Expected to Dominate Biodiesel Industry Growth?
Technology advancements constitute a significant trend in the biodiesel industry. Numerous major businesses in the biofuel sector are striving to create innovative technological solutions to bolster their position in the market. For example, in January 2022, Crown Iron Works, an American company that provides oilseed extraction tools, refining infrastructure, and equipment, unveiled ACRE, short for Advanced Catalyst Reduction and Economization. ACRE is a sophisticated upgrade created to refine its biodiesel production technology. It integrates a third transesterification reactor to enhance the residence period and achieve stoichiometric reactions. It is used to capitalize on the potential for catalyst reuse. In addition to reducing the catalyst, ACRE is also energy-efficient, enabling biodiesel manufacturers to save costs on steam and electricity. It achieves this by reducing the amount of fresh steam injected and using economizers and heat exchangers to harness extra process heat. ACRE is one of Crown's latest innovations. Consequently, the evolution of new biodiesel processing technologies continues, with the potential to improve production by boosting efficiency and reducing costs.
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Which Companies Hold the Largest Market Share in the Biodiesel Sector?
Major companies operating in the biodiesel market are Archer-Daniels-Midland Company, Cargill Incorporated, Renewable Energy Group Inc., Wilmar International Limited, Bunge Limited, Neste Corporation, BIOX Corporation, Munzer Bioindustrie GmbH, Emami Agrotech Limited, Louis Dreyfus Company B.V., Crimson Renewable Energy L.P., Green Energy Biofuel LLC, FutureFuel Corp., Delta American Fuel LLC, HERO BX LLC, Western Dubuque Biodiesel LLC, Iowa Renewable Energy LLC, Flint Hills Resources LLC, World Energy Alternatives LLC, Lake Erie Biofuels LLC, Pacific Biodiesel Technologies LLC, SeQuential LLC, White Mountain Biodiesel LLC, Blue Sun Biodiesel LLC, Community Fuels Inc., Newport Biodiesel LLC, Piedmont Biofuels Industrial LLC, Verbio Vereinigte BioEnergie AG
Where Is the Biodiesel Market Experiencing the Highest Growth?
Western Europe was the largest region in the biodiesel market share in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the biodiesel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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