According to IMARC Group’s latest report, titled “Biodiesel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global market exhibited moderate growth during 2015-2020.Biodiesel is a renewable and biodegradable fuel produced from the transesterification of vegetable oils and animal fats. It is manufactured using palm oil, soybean oil, corn oil and jatropha oil. Biodiesel is widely used as an alternative fuel to diesel and is also utilized for heat generation, transportation, charging electronics, cooking and removing paints. In comparison to petroleum, biodiesel has higher oxygen content, is cost-effective, non-toxic and does not produce harmful chemicals. As a result, biodiesel finds extensive applications across various industries, such as aviation, industrial, marine, mining, automotive and agriculture.
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The global biodiesel market is primarily being driven by the increasing demand for environment-friendly fuels. It provides enhanced energy conservation, reduced emission of greenhouse gases (GHGs) and improved air quality. Moreover, various technological advancements, such as the development of hydrodynamic cavitation techniques for the manufacturing of biodiesels with enhanced energy efficiency and reaction rate, are providing a thrust to the market growth. Other factors, including the widespread product adoption in the marine industry as shipping fuel, along with the implementation of various government initiatives for sustainable development, are creating a positive outlook for the market. Looking forward, IMARC Group expects the biodiesel market to grow at a CAGR of around 5% during 2021-2026.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Archer Daniels Midland Company (ADM)
- Wilmar International Limited
- Renewable Energy Group Inc.
- Cargill Inc.
- Bunge Limited
- Neste Corporation
- Louis Dreyfus Company
- BIOX Corporation
- Münzer Bioindustrie GmbH
- Diester Industrie
- BTG International Ltd
- China Clean Energy Inc.
- CropEnergies AG
Market Breakup by Feedstock:
- Vegetable Oils
- Animal Fats
Market Breakup by Application:
- Power Generation
Market Breakup by Type:
Market Breakup by Production Technology:
- Conventional Alcohol Trans-esterification
- Hydro Heating
Market Breakup by Region:
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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