PUBLISHER: ChemAnalyst | PRODUCT CODE: 1002991
PUBLISHER: ChemAnalyst | PRODUCT CODE: 1002991
APAC Biodiesel demand stood at 9.25 Million Tonnes in 2020 and is forecast to reach 17.929 Million Tonnes by 2030, growing at a healthy CAGR of 6.93% until 2030. Biodiesel demand is set to rise in the APAC region owing to the growing automotive and power industry, which are the major end-users of eco-friendly fuel. Besides, the increasing adoption of biodiesel fuel in the automotive segment to reduce the use of fossil fuels and carbon footprint is driving the need for biodiesel. Additionally, the demand for biodiesel from the power generation sector is increasing due to its high heat capacity as compared to other fossil fuels. Moreover, increasing government support for the replacement of fossil fuels to reduce greenhouse emissions associated with manufacturing is another influencing factor supporting the rise in Biodiesel demand in APAC stood at 9.25 Million Tonnes in 2020 and is forecast to reach 17.929 Million Tonnes by 2030, growing at a healthy CAGR of 6.93% until 2030. Biodiesel demand is set to rise in the APAC region owing to the growing automotive and power industry, which are the major end-users of eco-friendly fuel. Demand from the automotive segment is due to the use of biodiesel as an alternative fuel. Demand from power generation is increasing due to the high heat capacity of biodiesel which is comparable to other fossil fuels. Moreover, increasing government support for the replacement of fossil fuels, responsible for causing more greenhouse emissions compared to biofuel another influencing factor supporting demand in the rise of biodiesel in the APAC region. The Indian government has decided to blend 5% biodiesel by 2022, which is expected to propel the demand for biodiesel in India. Similarly, in China which houses more than twenty refineries for biodiesel, there are targets for higher blending of biodiesel, which is projected to support demand rise for biodiesel during the forecast period. Due to country-wide lockdowns in COVID-19, the demand for biodiesel plummeted. However, rising e-commerce activities are neutralizing the demand for biodiesel due to brick and mortar store closures, thus APAC biodiesel market growth is set to register positive growth during the forecast period.
Under this subscription, you would be able to access the APAC biodiesel market demand and supply analysis on a cloud-based platform for one year. The data is updated on a near real-time basis to add any new movement in the industry including, but not limited to new plant announcements, plant shutdowns, temporary disruptions in the demand or supply, news and deals, and much more specific to biodiesel.
Years Considered for Analysis:
Historical Years: 2015 - 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 - 2030
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Deliverables:
To extract data for the APAC biodiesel market, the ChemAnalyst team conducts primary research surveys with biodiesel manufacturers, suppliers, distributors, wholesalers, and customers, followed by exhaustive secondary research to cross-validate the information being collected through primary research surveys.