Growth Of Biodiesel Market 2016 – 2024

The mounting environmental concerns and the rising need for energy independence have been the key drivers of the global biodiesel market. In a report, titled “Biodiesel Market – Global Industry Analysis, Size, Share, Trends, Growth and Forecast, 2014 – 2020,” Transparency Market Research takes to analyzing the various factors aiding the market’s expansion and those restraining it. Several of the prominent companies in the global biodiesel market have been profiled to present an executive-level blueprint of the prevailing vendor landscape in the market.

The global biodiesel market can be studied on the basis of application, feedstock, and geography. In terms of application, the market is segmented into aircraft, railway, cleaning, railway, and generators. Based on feedstock, waste vegetable oil, animal fat, Jatropha, algae, and others make the key segments in the market. Regionally, the market has been segmented into Asia Pacific, North America, Europe, and Rest of the World.

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Several countries across the globe are involved in the production and usage of biodiesel as a substitute of energy derived from oil and fossil fuel. Governments in these nations have implemented stringent laws and offer lucrative incentives to reduce oil dependency, consequently encouraging the use of renewable energies. Spurred by favorable regulations, the global biodiesel market is likely to exhibit strong growth in the forthcoming years.

Currently, the market is witnessing lucrative opportunities in India, China, and the U.K. The high diesel prices and the increasing number of diesel vehicles have been fuelling demand for biodiesel from these countries. Furthermore, paradigm shift in the market is expected in response to the increasing switch from the existing feedstock efficiency. According to TMR, the growth of algae as a novel source of feedstock is expected in the forthcoming years.

The global biodiesel market is expected to undergo a transitional pace. The market has currently reached a remarkable production capacity in the U.S. and a few European countries but has remained restrained by the lack of inadequate feedstock availability. In India, China, and Brazil, favorable government policies are escalating demand for biodiesels. As governments across these countries continue to support the development of alternative and low-cost feedstock such as algae, vegetable oil, castor, tallow, jatropha, and other sustainable feedstock, strong growth is expected for the biodiesel market. Furthermore, the biodiesel industries in Argentina is booming as well as a result of the rising domestic demand and robust exports for biodiesel.

Some of the leading companies operating in the biodiesel market are Green Earth Fuels of Houston, LLC, American Energy Producer, ACCIONA Energy, Imperium Renewables, China Biodiesel International Holding, Deerfield Energy, Crimson Renewable Energy, Western Dubuque Biodiesel, Delta American Fuel, and others.

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