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Biodiesel Market Analysis - Segmentation By Method of Synthesis (Pyrolysis, Dilution, Microemulsion, Transesterification); Sources (Vegetable Oil (Edible Oil, Non-Edible Oil), Animal Fats, Biomass, Others (Bacteria, Algae, Fungi, Biomass)); Blends (B100, B20, B5, Others); Application (Automotive, Aviation, Industrial, Marine, Others (Heating Fuel, Mining Sector, Agriculture)); Geography (North America, Europe, Asia Pacific, Rest of the World) - Size, Share, Trends, COVID-19 Impact and Growth Analysis Report - Industry Forecast (2022 to 2027)

Biodiesel Market Size & Growth Analysis (2022 - 2027)

The global biodiesel market size is expected to reach USD 116.4 billion by 2027 with a CAGR of 11.6% during the forecast period 2022-2027.

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. 

Market Drivers

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.

Market Restrains

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.

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Biodiesel Market Size & Growth (2022 - 2027)

BIODIESEL MARKET REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2022 – 2027

Base Year

2022

Forecast Period

2022 – 2027

CAGR

11.6%

Segments Covered

By Method of Synthesis, Sources, Blends, Application, and Region

Revenue Forecast by 2027

USD 116.4 Billion

Regions Covered

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

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Segment Analysis

The global biodiesel market has been segmented and sub-segmented based on the method of synthesis, sources, application.

Biodiesel Market - By Method of Synthesis

  • Pyrolysis
  • Dilution
  • Microemulsion
  • Transesterification

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.

Biodiesel Market - By Sources

  • Vegetable Oil
    • Edible Oil
    • Non-Edible Oil
  • Animal Fats
  • Biomass
  • Others
    • Bacteria
    • Algae
    • Fungi
    • Biomass

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. 

Biodiesel Market - By Blends

  • B100
  • B20
  • B5
  • Others

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.

Biodiesel Market - By Application

  • Automotive
  • Aviation
  • Industrial
  • Marine
  • Others (Heating Fuel, Mining Sector, Agriculture)

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.

Regional Analysis

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 2027. 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

  • On February 13, 2022, Austrian firm, Muenzer Bioindustrie GmbH has established a biodiesel plant in Navi Mumbai, India.
  • On September 03, 2022, Archer Daniels Midland Co. combined with Marathon Petroleum Corp for producing Soybean oil that can be used in creating renewable diesel fuel.
  • On March 30, 2022, Neste Corporation, a biodiesel producer, is expecting global demand for renewable diesel to increase over the next decade. 
  • On May 26, 2022, to produce renewable diesel from animal fat Cargill and Love's companies collaborated. The collaboration produces 80 gallons of biodiesel.

Biodiesel Market - Forecast (2021 - 2026)

Chapter 1. Biodiesel Market  – Scope & Methodology

1.1. Market Segmentation

1.2. Assumptions

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)

6.1. Pyrolysis

6.2. Dilution

6.3. Microemulsion

6.4. Transesterification

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

7.3. Biomass

7.4. Others

                7.4.1. Bacteria

                7.4.2. Algae

                7.4.3. Fungi

                7.4.4. Biomass

Chapter 8. Biodiesel Market - Blends 

8.1. B100

8.2. B20

8.3. B5

8.4. Others

Chapter 9. Biodiesel Market - Application  

9.1. Automotive

9.2. Aviation

9.3. Industrial

9.4. Marine

9.5. Others (Heating Fuel, Mining Sector, Agriculture)

Chapter 10. Biodiesel Market , By Geography – Market Size, Forecast, Trends & Insights

10.1. North America

                10.1.1. U.S.A

                10.1.2. Canada

                10.1.3. Mexico

10.2. Europe

                10.2.1. Italy

                10.2.2. Spain

                10.2.3. Russia

                10.2.4. Germany

                10.2.5. UK

                10.2.6. France

                10.2.7. Rest of Europe

10.3. Asia Pacific

                10.3.1. Japan

                10.3.2. South Korea

                10.3.3. China

                10.3.4. India

                10.3.5. Australia & New Zealand

                10.3.6. Rest of Asia-Pacific

10.4. Rest of the World

                10.4.1. Middle East

                10.4.2. Africa

                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

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