Biodiesel Market – Global Industry Insights and Forecast till 2024

Growing demand in automotive and power generation drives Biodiesel Market
Market Overview:
Biodiesel is the form of renewable fuel that can be used across all energy sectors, namely
electricity, heat, and transportation, which is one of the key contributing factors in the
expansion of the global biodiesel market. Rising awareness relating to depleting non-renewable
energy sources and the need to integrate renewable energy sources has also contributed
majorly to the rising demand in the market. The size of the world market was around USD 36.79
billion by revenue, at the end of 2018. It is estimated to grow at a CAGR of 3.87% to reach
around USD 44.48 billion in the forecast period.
Market drivers and restraints:
Rising demand for biodiesel to replace conventional fossil fuel in automotive and power
generation application is estimated to drive market growth. The global market is mainly driven
by the need for the vegetable oil segment of the feedstock type in a different form and from
several end-user industries. Also, the increasing demand for the use of biodiesel as fuel assists
in the growth of the global market. Nevertheless, the costs related may restrain the market in
the forecast period. However, the market concentration in regions like the Asia Pacific and the
Middle East and Africa, are expected to promote the business in the coming years.
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Report segmented as:
By feedstock:
Vegetable oils
Animal fats
Brown grease/trap grease
By application:
Power generation
Geographical analysis:
Based on geography, the global market is segmented into Asia Pacific, North America, Latin
America, Europe, and the Middle East and Africa. Europe dominated the global market in the
year 2018. The existence of a significant customer base in and around this region assists the
growth of the local market.
Important market players:
Some of the key players operating in the global Biodiesel Market are Enerkem among few,
INEOS New Planet BioEnergy, Canergy LLC, Abengoa bioenergy, Amyris, Poet-DSM Advanced
Biofuels LLC.
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The Scope of the report:
This report offers the current product and services market evaluation and the future estimation
of the market. It helps us understand the market better through size anticipation and CAGR
calculation to estimate the next market. It has a broader segmentation for better
understanding of the enterprising of the market at a low level by segregating the market into
smaller sectors.
Apart from the syndicated report, our in-house team has expertise and experience in designing
custom reports to meet your specific research needs and assist you in making well-informed
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Global Market was around USD 36.79 Billion by revenue, at the end of 2018. It is expected to grow at a CAGR of 3.87 % to reach close to USD 44.48 Billion in the forecast, as mentioned earlier period.