This report titled “Biodiesel Market - Growth, Future Prospects, and Competitive Analysis, 2023 – 2030” offers strategic insights into the trends in the biodiesel market along with the market size and forecast for the duration 2023 to 2030. The said research study incorporates in-depth analysis of multiple market segments based on source, application, and geographical distribution.
The global biodiesel market is becoming increasingly competitive with growing number of mergers and collaborations between market players to expand their production capabilities to meet the demand for biodiesel. In addition, several players are also focused on developing their niche in the market. Rapid growth of this market has also resulted in creating further skilled job opportunities in major hubs spread across North America, Europe, Latin America, MEA and Asia Pacific.
Based on source, the global biodiesel market is categorized into soybean oil, corn oil, canola oil, and animal fats. On the basis of application, the global biodiesel market is categorized into power generation, fertilizer and others. In addition, biodiesel manufacturing companies, distributors, and academic organizations form the major client types for the biodiesel market.
Based on the Source, the global biodiesel market is segmented as follows:
On the basis of source, the global biodiesel market can be segmented into soybean oil, corn oil, canola oil, and animal fats. In 2020, soybean oil accounted for the largest share in global biodiesel market and is projected to maintain their dominance during the forecast period. Strong presence of food manufacturing industries in Europe ensuring the supply of soybean oil as a feedstock for biodiesel which in turn is projected to fuel the growth of the segment during the forecast period. Corn oil is anticipated to be the fastest growing segment among the all sources. Expedient availability of corn oil feedstock during increasing production of corn oil product facilitating the accessibility of corn oil feedstock which in turn is expected to drive the growth of the segment during the forecast period.
Based on the application, the global biodiesel market is segmented as follows:
On the basis of application, the global biodiesel market can be segmented into transportation fuels, power generation and others. In 2020, transportation was observed to be the largest application segment and is projected to maintain their dominance during the forecast period. Growing use of biodiesel as fuel in automobiles, railways marine, mining, etc. coupled with favorable regulatory initiatives taken by governments to promote the production and use of biofuels. Increasing blending of biodiesel in transportation fuels is anticipated to drive the growth of the segment over the forecast period. Power generation segment is anticipated to account for significant share in the global biodiesel market and expected to witness significant growth during the forecast period. Growing inclination to reduce the dependency on fossil fuel is projected to spur the growth of the segment during the forecast period (2023-2030).
On the basis of geography, global biodiesel market can be segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In 2020, Europe accounted for the largest share in global biodiesel and is projected to maintain its dominance during the forecast period. Increasing investment in biodiesel production coupled with growing regulatory support of biodiesel blending in diesel especially in Germany, Greece, Russia, Poland, Czech Republic and Serbia is anticipated to drive the market growth in Europe. Region is anticipated to witness robust growth in the demand for biodiesel during the forecast period. Followed by it, North America stood at second position accounted for significant share in the global biodiesel market in 2020. Increasing production of biodiesel in U.S. coupled with factors such as growing access to foreign biodiesel, the biodiesel tax credit, favorable blending economics and renewable fuels standards. This in turn is anticipated to drive the demand for biodiesel in the country during the forecast period (2023-2030).
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Biodiesel market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Source
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
