“We have produced a new premium report Biodiesel Market. The report covers the analysis of global as well as regional markets of Biodiesel. The objective of the study is to identify market sizes of different segments & countries in recent years and to forecast the values for the next six years. The report also deep dives into the sub-segments of Biodiesel Market by feedstock (animal fat, waste vegetable oil, algae, jatropha and others), by application (automotive fuel, power generation, solvent, cement manufacturing, cleaning, heating oil) through main geographies in the global market such as North America, Europe, Asia-Pacific and RoW. According to the report the Global Biodiesel Market is projected to grow at a CAGR of between 3.5% and 4.0% in terms of value over the period of 2017-2023
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the Biodiesel Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Biodiesel Market are Green Earth Fuels, LLC, ACCIONA Energy, American Energy Producer, China Biodiesel International Holding, Crimson Renewable Energy, Deerfield Energy, Imperium Renewables, Archer Daniels Midland Company, Wilmar International Limited, Neste Corp., BIOX Corp., and Cargill Inc.”
Growing Demand for Biodiesel Fuel to Replace Conventional Fossil Fuel in Commercial, Automotive and Power Generation is anticipated to drive the Biodiesel Market Globally over the Forecast Period
The global biodiesel market was sized over USD 32.95 billion in 2015. The global biodiesel market is projected to grow with a CAGR between 3.5% and 4.0% during 2017-2023 and reach USD 43.26 billion by 2023. The global biodiesel market is primarily driven by the motives of concerns about greenhouse gas emissions and global climate change coupled with desire for renewable and sustainable energy sources. Moreover, increasing demand for biodiesel fuels form end user applications such as railway, aircraft, marine, heating oil, cleaning and generators will drive the global biodiesel market over the forecast period.However, volatility in raw material prices required for the production of biodiesel and unavailability of raw materials will restrain the growth of global biodiesel market. Nevertheless, increasing investment in R&D activities from government in the feedstock and growing focus in developing domestic & more secure fuel supplies from key players will bring more opportunities in the biodiesel market globally over the forecast period.
North and South America biodiesel market are anticipated to grow at a highest CAGR rate over the forecast period
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, Latin America and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.
Europe is accounted for the largest production of biodiesel due to support by government to increase energy independence and meet the rising energy demand. Moreover, Germany and France are major and remarkable producers of biodiesel over the last decade but are anticipated to decline in the upcoming years due to imposition of taxes on green fuels which have made biodiesel too expensive and economic slowdown. However, North and South America biodiesel market are anticipated to grow at a highest CAGR rate over the forecast period due to initiatives taken by the government of U.S, Canada, Brazil and Argentina to reduce dependence on foreign petroleum and to promote bio-fuel sector by creating jobs and improving the environment. Nevertheless, Asia Pacific biodiesel market is also likely to witness a significant growth over the forecast period due to growth in automotive sector and increasing demand in diesel driven vehicle are at rapid pace especially in economies such as China and India. Furthermore, India is anticipated to grow at a highest CAGR rate in Asia Pacific region due to government initiatives in promoting green fuel to reduce pollution as well as to reduce dependency on crude oil.