What is the global market size of Biodiesel Market?

Global Biodiesel Market size was valued at USD 40 billion in 2021 and is poised to grow from USD 42.69 billion in 2022 to USD 64.27 billion by 2030, growing at a CAGR of 5.25% in the forecast period (2023-2030).

Biodiesel Companies

Biodiesel Market Competitive Landscape

Biodiesel Industry Top Players Company Profiles

Renewable Energy Group, Inc.
Archer Daniels Midland Company
Neste Oyj
Wilmar International Ltd
Cargill, Inc.
Bangchak Corporation Public Company Limited
Ag Processing Inc.
BIOX Corporation
Novozymes A/S
Green Plains Inc.
Rapsoila
Mid-America Biofuels, LLC
U.S. Freedom Bio Fuels LLC
Champway Technology Ltd.
Green Biofuels
Vegas Renewable Diesel Inc.
GeoGreen Biofuels, Inc.
SBI BioEnergy Inc.
TECHNOILOGY
EcoCeres Inc.

FAQs

Global Biodiesel Market size was valued at USD 40 billion in 2022 and is poised to grow from USD 42.69 billion in 2023 to USD 64.27 billion by 2031, growing at a CAGR of 5.25% in the forecast period (2024-2031).

The global biodiesel market is fairly concentrated, with a few big and medium-sized players accounting for a large portion of market revenue. Major players are implementing numerous tactics, including acquisitions, strategic agreements and contracts, and mergers. For instance, in 2021, Continental Refining Company, Kentucky to invest additional USD 20 million in a biodiesel project. They announced that it is moving forward with plans to invest USD 20 million to acquire and install a soybean crushing, biodiesel refining and blending facility at the current CRC oil refinery in Somerset, Kentucky. 'Renewable Energy Group, Inc. ', 'Archer Daniels Midland Company ', 'Neste Oyj ', 'Wilmar International Ltd ', 'Cargill, Inc. ', 'Bangchak Corporation Public Company Limited ', 'Ag Processing Inc. ', 'BIOX Corporation ', 'Novozymes A/S ', 'Green Plains Inc. ', 'Rapsoila ', 'Mid-America Biofuels, LLC ', 'U.S. Freedom Bio Fuels LLC ', 'Champway Technology Ltd. ', 'Green Biofuels ', 'Vegas Renewable Diesel Inc. ', 'GeoGreen Biofuels, Inc. ', 'SBI BioEnergy Inc. ', 'TECHNOILOGY ', 'EcoCeres Inc.'

The rising concerns regarding greenhouse gas emissions due to the use of fossil fuels is creating a paved way for the growth of the global biodiesel market. It lowers the emission of greenhouse gasses up to 50% as compared to petroleum diesel and has low toxic and carcinogenic aromatic carbon content. Due to this, manufacturers of biodiesel from several countries have prevented their dependence on foreign oil reserves, as it can be domestically produced and can be consumed in any diesel engine with little or no alterations to the engine or fuel system.

Raising crude oil prices is driving countries and manufacturers to switch towards biodiesel. Vegetable oils are playing a major role in the production of biodiesel and have many benefits as compared to crude oil such as lower cost, reduces emissions of GHG. As a result, the demand for biodiesel is increasing continuously across the globe.

Globally, the Asia Pacific region dominated the biodiesel market share with a holding of 40% of the overall market. The Asia Pacific region is witnessing rapid growth due to the increasing industrialization and considerable escalation in fuel demand in the transport and power sectors in emerging countries such as Indonesia, China, Thailand, India, and Malaysia. According to a report of ERIA, the total demand of the ASEAN and East Asian Countries will reach nearly 37 million tons by 2035. In addition, the presence of progressive technology, expertise, encouraged exploration, and production capacities are likely to be another major factor to drive the market’s growth during the forecast period.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Biodiesel Market Size, Share, Growth Analysis, By Feedstock (Vegetable Oils, Animal Fats), By Type, By Application, By Region - Industry Forecast 2024-2031

Biodiesel Market Competitive Landscape

Biodiesel Market Report Snapshots

Want to customize this report?

FAQs

Request Free Customization

Feedback From Our Clients

$5,300

Biodiesel Market Size, Share, Growth Analysis, By Feedstock (Vegetable Oils, Animal Fats), By Type, By Application, By Region - Industry Forecast 2024-2031

Biodiesel Market Competitive Landscape

Biodiesel Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Biodiesel Market?

Who are the key vendors in the Biodiesel Market?

What is the key driver of Biodiesel Market?

What is the key market trend for Biodiesel Market?

Which region accounted for the largest share in Biodiesel Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300