March 29, 2020

Biodiesel Market Is Expanding at a CAGR of 4.4% (2017 – 2025)

According to a new market report published by Credence Research Global Biodiesel Market– Growth, Future Prospects & Competitive Analysis, 2017 – 2025, the Global Biodiesel Market is expected to reach US$ 53.6 Bn by 2025, expanding at a CAGR of 4.4% during the forecast period 2017 – 2025.

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Market Insights:

Biodiesel is projected to see a significant increase in the production of biodiesel across different countries, along with a rise in the use of biodiesel across different industries, including automotive, marine, agricultural, rail, power generation and mining. It is commonly used as fuel and also blended in diesel fuel in different countries in the B20, B50 and B100 ratios, depending on the regulatory guidelines of the respective countries. Biodiesel is also used as an industrial solvent and lubricating agent. Rising investment in the expansion of biodiesel production capacity in various European economies, such as Germany, France and Italy, is expected to fuel the growth of the biodiesel market over the forecast period.

Biodiesel Market

In addition, increased fuel consumption in key emerging economies, including India, China and others, and increased focus on reducing dependence on fossil fuels, attracting investment in alternative energy sources such as biodiesel. Growth in the food industry driving the production of feed stock produced from residues of soya bean oil, corn oil, canola oil and animal fats allowing the production of the feed stock needed for the production of biodiesel, which, in turn, will fuel the production of biodiesel during the forecast period. In addition, favorable regulatory support for the compulsory blending of biodiesel in diesel fuel is expected to increase the use of biodiesel. Nevertheless, the availability of raw materials and the high cost of building biodiesel plants are expected to impede the growth of the biodiesel market during the forecast period (2017-2025).

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Competitive Insights:

Global Biodiesel market is segmented on the basis of source, application and geography. By source, soybean oil was estimated to be the largest segment among all the source segments. Strong presence of food industry especially in Europe and North America generating sufficient feedstock including soybean oil, corn oil, canola oil and animal fats. Further, increasing investment in expansion of production capacity of biodiesel along with favorable regulatory support such as necessary blending of biodiesel in diesel fuel is projected to drive the growth of the segment during the forecast period. By application, in 2016 transportation fuel segment was the most dominant segment accounting for largest revenue share in global biodiesel market.

Growing use of biodiesel in blending with diesel fuel coupled with regulatory support such as necessary blending of 10% of biodiesel in diesel fuel is projected to drive the growth of the segment during the forecast period. On the basis of geography, Europe was estimated to be the largest market for biodiesel in 2016. High availability of feedstock due to strong presence of manufacturing industries especially in Germany, France, and Italy is projected to drive the demand for biodiesel in the region during the forecast period. Followed by it, Asia Pacific is anticipated to be the fastest growing region in global biodiesel market. High energy demand coupled with availability growing inclination towards the reducing the imports of fossil fuel especially in India and China is projected to drive the growth of the global biodiesel market during the forecast period.

Major players in global biodiesel market are investing in expansion of production capacity along with high focus on research and development to lower the production cost. To increase their companies are focusing in merger and acquisition.

Overall, global biodiesel market is anticipated to register significant growth over the forecast period (2017-2025).

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Key Trends:

Merger & Acquisition
Production capacity expansion
Investment in research and development

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