The global biodiesel market size is expected to reach USD 116.4 billion by 2030 with a CAGR of 11.6% during the forecast period 2023 - 2030.
Biodiesel is a renewable source of energy produced from various feedstocks like animal fats, vegetable oils, and other stock using a technique called Transesterification. Biodiesel is combined with diesel at different concentration levels. Biodiesel is extensively used in diesel engines across sectors like the chemical industry, industrial fuels, and transportation fuels.
The World Health Organization (WHO) declared a pandemic due to the sudden eruption of novel coronavirus (COVID-19). Due to the pandemic period, nations have imposed a lockdown to avoid the virus's spread. The pandemic has created a negative impact on the biodiesel market. Logistics activities, manufacturing, and carrying transportation experienced a major dip. From 2022 till date, automobile usage has experienced a shortfall, limiting biodiesel. Due to the pandemic period, disturbances in the supply chain were witnessed because of import and export limitations by key players. However, post-lockdown, the biodiesel market is expected to have a considerable growth rate.
Biodiesel sales are increasing are projected to surge due to the growing demand for eco-friendly fuels globally. The existence of many suppliers, huge investments, and technology skills fuel the market growth.
To decrease greenhouse gas emissions, governments of various countries across the globe are continuously adopting renewable sources of energy escalating the biodiesel market growth.
However, less availability of raw materials to its counterparts and the increasing electric vehicles sales are hiking hinders the biodiesel market growth during the period. The dearth of raw materials restricts market growth. Changing prices of raw materials impede market growth.
Market Size Available
2022 – 2030
2022 – 2030
By Method of Synthesis, Sources, Blends, Application, and Region
Revenue Forecast by 2030
USD 116.4 Billion
North America, Europe, APAC, RoW
Market Leaders Profiled
Archer Daniels Midland Company (ADM), Wilmar International Limited, Bunge Limited, Neste Corporation, Renewable Energy Group Inc., Cargill Inc., Louis Dreyfus Company, Biox Corporation, Münzer Bioindustrie GmbH, Terravia Holdings Inc., Emami Group, Shirke Energy, AG Processing Inc., Ecodiesel Colombia S.A., Futurefuel Group, and Others
CLICK HERE TO DOWNLOAD SAMPLE
The global biodiesel market has been segmented and sub-segmented based on the method of synthesis, sources, application.
The pyrolysis method of synthesis is accounted to hold the largest share in the biodiesel market and is likely to continue its share over the next upcoming years. Pyrolysis is a simple and economical procedure for processing a wide variety of feedstock.
By source, vegetable oil is dominating the biodiesel market with 90.0% of the share. The vegetable oil segment growth owes to the easy obtainability of vegetable oils and their sustainable nature.
The Animal fat-based source segment is expected to grow with a CAGR of 8.0% over the timeline period. The segment growth is due to less cost over vegetable oils.
By blends, the B5 category holds a significant share in the biodiesel market. The economical nature, low emission, balanced performance, and fuel economy augment the B5 blend growth.
The automotive application segment dominates the biodiesel market growth during the historical period. The demand for fuel in commercial cars is surging to substitute crude oil, which positively influences the market growth.
The aviation application segment is likely to have notable growth in the biodiesel market. Biodiesel is used in aviation as it can decrease the emission of carbon dioxide.
The marine application product segment is expected to grow with a CAGR of 8.1% throughout the forecast period. The marine application is biodegradable, harmless, and free of sulfur and fragrance.
The European market for biodiesel dominates globally.
The rise in per capita consumption is one factor booming the biodiesel market. The growth in the region owes to government focus on replacing carbon-emitting sources with bio-based products. The per capita consumption in the Netherlands is 55kg per person, in Spain, it is 34 kg/ person, and in France 40kg/person.
North America is said to have tremendous growth in the biodiesel market.
In the U.S., the biodiesel consumption level is high carrying 5.6 tonnes of 44% of the global consumption. The demand for biodiesel is likely to increase and the country is predicted to see five times increase by the end of 2030. On June 16, Biox Corporation acquired a biodiesel facility owned by Methes Energies Canada Inc. The facility produces around 50litres of biodiesel and the acquisition increases the company's production capacity by 75% and serves its customers in North America.
However, Asia-Pacific is scheduled to have the quickest growth in the biodiesel market. In China, UCO is the most used source for producing biodiesel. The majority of the biorefineries make use of UCO as raw materials. In China, fishing and agriculture equipment is the second-largest application product.
India is projected to have a quick growth due to the increasing demand for vehicles driving with diesel, and the government of India is taking measures to surge green fuel to limit pollution and decrease the reliance on crude oil propelling the market growth. By 2022, the Indian government has planned to mix 5% biodiesel driving the market growth throughout the timeline period.
Latin America is projected to be the quickest growing region with a CAGR of 10.9% during the timeline period. Countries like Brazil, Argentina, and Colombian governments are taking some measures to the biofuel sector to decrease fossil fuels, booming the biodiesel market growth in the region.
Brazil is leading and is the second-largest producer in the biodiesel market. The country consumes 25% of biodiesel. The Brazilian government has initiated many policies and also organized many programs to create awareness and the use of renewable energy over the forthcoming years, booming the increasing need for biodiesel throughout the country.
The Middle East & African biodiesel market is anticipated to have notable growth due to the easy availability of raw materials. UAE, Africa, Israel, Egypt, and the rest ofMEA contribute a major share in the biodiesel market.
Biodiesel Market Key Players
Wilmar International Limited (Malaysia), Archer Daniels Midland Company (U.S.), Neste Corporation (Finland), Bunge Limited (U.S.), Renewable Energy Group Inc. (U.S.), Louis Dreyfus Company (Netherlands), (Austria), Cargill Inc. (U.S.), BIOX Corporation (Canada), and Emami Group (India) are some major companies operating in the biodiesel market.
Recent Market Developments
Biodiesel Market - Forecast (2021 - 2026)
Chapter 1. Biodiesel Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Biodiesel Market – Executive Summary
2.1. Market Size & Forecast – (2020 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Biodiesel Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Biodiesel Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Biodiesel Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Biodiesel Market - Method of Synthesis (Qualitative)
Chapter 7 . Biodiesel Market – By Sources
7.1. Vegetable Oil
7.1.1. Edible Oil
7.1.2. Non-Edible Oil
7.2. Animal Fats
Chapter 8. Biodiesel Market - Blends
Chapter 9. Biodiesel Market - Application
9.5. Others (Heating Fuel, Mining Sector, Agriculture)
Chapter 10. Biodiesel Market , By Geography – Market Size, Forecast, Trends & Insights
10.1. North America
10.2.7. Rest of Europe
10.3. Asia Pacific
10.3.2. South Korea
10.3.5. Australia & New Zealand
10.3.6. Rest of Asia-Pacific
10.4. Rest of the World
10.4.1. Middle East
10.4.3. South America
Chapter 11. Biodiesel Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
11.1. Company 1
11.2. Company 2
11.3. Company 3
11.4. Company 4
11.5. Company 5
11.6. Company 6
11.7. Company 7
11.8. Company 8
11.9. Company 9
11.10. Company 10
Every order comes with Analyst Support
We offer customization to cater your needs to fullest
We value Integrity, quality and authenticity the most