B5 Fuel Market Size, Share, Growth Analysis, By Application(Industries, Transportation, Chemicals, and others), By Region - Industry Forecast 2024-2031

B5 Fuel Market size was valued at USD 49.24 billion in 2022 and is poised to grow from USD 52.05 billion in 2023 to USD 81.10 billion by 2031, growing at a CAGR of 5.7% in the forecast period (2024-2031).

B5 Fuels are becoming popular since they Are blended with petroleum diesel that is up to 95%. There are many advantages and applications associated with the B5 fuels which are included in the biodiesel. They help many countries across the globe to reduce their dependence on the foreign oil reserve as its domestically produced and can be used in any diesel engine with little or no modification to the engine or the fuel system.

It reduces the concentration of petrochemical which enter in results in the advantages on environment. Along with it can be used in existing diesel system with little or no modification at all and can replace fossil fuels,to become the most preferred primary energy source.When the petrochemicals, which are used in transportation, and other sectors , they release greenhouse gases like carbon dioxide in the atmosphere that raises the temperature and causes the global warming.Therefore, mixing of the biodiesel with the petrochemical can help in the protection of environment from further heating up.

US B5 Fuel Market is poised to grow at a sustainable CAGR for the next forecast year.