Biodiesel Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

Environmental Concerns Drive Demand for Renewable Energy Sources

The biodiesel market is poised for substantial growth in the coming decade, according to the latest data from Fairfield Market Research. With global sales expected to reach US$ 44 billion in 2024, the industry is projected to register a steady growth during forecast period spanning from 2024 to 2031. This surge is attributed to escalating environmental concerns, depleting conventional energy sources, and increasing government regulations on emission limits.

Rising Demand Amid Environmental Concerns

The growing public pressure to reduce emissions and replace fossil fuels in response to environmental concerns has led to the development of a wide range of biofuels, including biodiesel. Biodiesel not only enhances fuel efficiency but also reduces harmful emissions, making it an attractive alternative to conventional fuels. As the world's reliance on non-renewable energy sources continues to deplete at an alarming rate, biodiesel emerges as a renewable energy solution, offering sustainable energy for the future.

Government Regulations Driving Market Growth

Governments worldwide are implementing regulations to limit the consumption of conventional fuels and mitigate the emission of harmful gases. This regulatory landscape creates significant opportunities for biodiesel manufacturers, as the demand for clean-burning fuels continues to rise. Biodiesel's compatibility with petroleum diesel and its eco-friendly properties position it favorably in the market, driving adoption among consumers and industries alike.

Challenges and Opportunities in Feedstock Costs

However, the high price volatility of feedstock remains a challenge for biodiesel producers. Feedstock costs, which account for a significant portion of total production expenses, pose a risk to long-term financial stability. Moreover, fluctuations in crude oil prices directly impact the biodiesel market, affecting consumption patterns. Despite these challenges, initiatives to explore alternative feedstock sources and enhance production efficiency offer opportunities for growth and innovation in the industry.

Regional Insights: United States and India

In the United States, biodiesel emerges as the second-most used and produced biofuel, with a market anticipated to reach close to US$ 11 billion by 2031. Government incentives and subsidies for biodiesel manufacturing, sales, and usage have propelled market growth, making biodiesel a viable alternative to conventional fuels. Similarly, in India, the biodiesel market is expected to expand at a CAGR of 5%, driven by shifting consumer preferences towards eco-friendly solutions and government initiatives promoting cleaner fuels.

Category-wise Insights and Growth Outlook

As automobile sales continue to rise globally, diesel-fueled vehicles account for a significant portion of the vehicle fleet. The increasing consumption of diesel fuels necessitates blending with biodiesel to meet emission standards and reduce reliance on crude oil imports. This trend is expected to drive demand for biodiesel as a fuel, with a projected growth rate of 3.6% during the forecast period.

Feedstock Type and Market Valuation

Vegetable oil remains the primary feedstock for biodiesel production, accounting for over 80% of total production. Soybean and canola oil are among the majorly used vegetable oils, followed by palm oil and corn oil. The vegetable oil segment is expected to reach a market valuation of US$ 43.64 billion by 2031, driven by high availability and versatility in production processes.

Resilience Amidst COVID-19 Pandemic

While the COVID-19 pandemic initially impacted global biodiesel demand, recovery is underway as end-user industries resume operations. Government support and increasing demand for eco-friendly fuels are expected to fuel market growth, driving the industry towards a sustainable future.

Competitive Analysis and Future Outlook

The biodiesel market presents a moderately fragmented landscape, with both key players and small-scale manufacturers contributing to market expansion. Companies are focusing on expanding their manufacturing facilities and global footprints to meet rising demand. Collaborations and partnerships among major players further strengthen market position, fostering innovation and growth opportunities.

Some Key Companies of Market Are:

Archer Daniels Midland
Marathon Petroleum Corporation
VERBIO
Renewable Energy Group, Inc.
NOVAOL, Italy
ARGENT ENERGY
MOL Group
Neste
Shell Plc
HERO BX
Ag Processing Inc.
Cargill Inc.

Key Segments Covered in Biodiesel Industry Research

Biodiesel Market by Production Process:

Alcohol Trans-Esterification
Hydro-Heating

Biodiesel Market by Feedstock Type:

Vegetable Oil
Animal Oil
Used Cooking Oil

Biodiesel Market by Application:

Fuel
Power Generation
Agriculture

Biodiesel Market by Region:

North America Biodiesel Market
Latin America Biodiesel Market
Europe Biodiesel Market
East Asia Biodiesel Market
South Asia & Pacific Biodiesel Market
Middle East & Africa Biodiesel Market

1. Executive Summary

1.1. Global Biodiesel Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2023
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Production Output and Trade Statistics, 2018-2023

3.1. Global Biodiesel, Production Output, by Region, 2018 - 2023
- 3.1.1. North America
- 3.1.2. Europe
- 3.1.3. Asia Pacific
- 3.1.4. Latin America
- 3.1.5. Middle East & Africa

4. Global Biodiesel Market Outlook, 2018 - 2031

4.1. Global Biodiesel Market Outlook, by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Alcohol Trans-Esterification
  - 4.1.1.2. Hydro-Heating
4.2. Global Biodiesel Market Outlook, by Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. Vegetable Oil
  - 4.2.1.2. Animal Oil
  - 4.2.1.3. Used Cooking Oil
4.3. Global Biodiesel Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. Fuel
  - 4.3.1.2. Power Generation
  - 4.3.1.3. Agriculture
4.4. Global Biodiesel Market Outlook, by Region, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 4.4.1. Key Highlights
  - 4.4.1.1. North America
  - 4.4.1.2. Europe
  - 4.4.1.3. Asia Pacific
  - 4.4.1.4. Latin America
  - 4.4.1.5. Middle East & Africa

5. North America Biodiesel Market Outlook, 2018 - 2031

5.1. North America Biodiesel Market Outlook, by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Alcohol Trans-Esterification
  - 5.1.1.2. Hydro-Heating
5.2. North America Biodiesel Market Outlook, by Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. Vegetable Oil
  - 5.2.1.2. Animal Oil
  - 5.2.1.3. Used Cooking Oil
5.3. North America Biodiesel Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Fuel
  - 5.3.1.2. Power Generation
  - 5.3.1.3. Agriculture
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. North America Biodiesel Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 5.4.1. Key Highlights
  - 5.4.1.1. U.S. Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 5.4.1.2. U.S. Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 5.4.1.3. U.S. Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 5.4.1.4. Canada Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 5.4.1.5. Canada Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 5.4.1.6. Canada Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Europe Biodiesel Market Outlook, 2018 - 2031

6.1. Europe Biodiesel Market Outlook, by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Alcohol Trans-Esterification
  - 6.1.1.2. Hydro-Heating
6.2. Europe Biodiesel Market Outlook, by Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. Vegetable Oil
  - 6.2.1.2. Animal Oil
  - 6.2.1.3. Used Cooking Oil
6.3. Europe Biodiesel Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Fuel
  - 6.3.1.2. Power Generation
  - 6.3.1.3. Agriculture
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Europe Biodiesel Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 6.4.1. Key Highlights
  - 6.4.1.1. Germany Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.2. Germany Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.3. Germany Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.4. U.K. Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.5. U.K. Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.6. U.K. Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.7. France Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.8. France Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.9. France Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.10. Italy Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.11. Italy Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.12. Italy Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.13. Turkey Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.14. Turkey Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.15. Turkey Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.16. Russia Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.17. Russia Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.18. Russia Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.19. Rest of Europe Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.20. Rest of Europe Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 6.4.1.21. Rest of Europe Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Asia Pacific Biodiesel Market Outlook, 2018 - 2031

7.1. Asia Pacific Biodiesel Market Outlook, by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Alcohol Trans-Esterification
  - 7.1.1.2. Hydro-Heating
7.2. Asia Pacific Biodiesel Market Outlook, by Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 7.2.1. Key Highlights
  - 7.2.1.1. Vegetable Oil
  - 7.2.1.2. Animal Oil
  - 7.2.1.3. Used Cooking Oil
7.3. Asia Pacific Biodiesel Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Fuel
  - 7.3.1.2. Power Generation
  - 7.3.1.3. Agriculture
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Asia Pacific Biodiesel Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 7.4.1. Key Highlights
  - 7.4.1.1. China Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.2. China Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.3. China Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.4. Japan Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.5. Japan Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.6. Japan Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.7. South Korea Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.8. South Korea Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.9. South Korea Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.10. India Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.11. India Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.12. India Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.13. Southeast Asia Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.14. Southeast Asia Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.15. Southeast Asia Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.16. Rest of Asia Pacific Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.17. Rest of Asia Pacific Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 7.4.1.18. Rest of Asia Pacific Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Latin America Biodiesel Market Outlook, 2018 - 2031

8.1. Latin America Biodiesel Market Outlook, by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Alcohol Trans-Esterification
  - 8.1.1.2. Hydro-Heating
8.2. Latin America Biodiesel Market Outlook, by Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
8.3. Latin America Biodiesel Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 8.3.1. Key Highlights
  - 8.3.1.1. Fuel
  - 8.3.1.2. Power Generation
  - 8.3.1.3. Agriculture
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Latin America Biodiesel Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 8.4.1. Key Highlights
  - 8.4.1.1. Brazil Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.2. Brazil Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.3. Brazil Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.4. Mexico Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.5. Mexico Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.6. Mexico Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.7. Argentina Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.8. Argentina Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.9. Argentina Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.10. Rest of Latin America Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.11. Rest of Latin America Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 8.4.1.12. Rest of Latin America Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Middle East & Africa Biodiesel Market Outlook, 2018 - 2031

9.1. Middle East & Africa Biodiesel Market Outlook, by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 9.1.1. Key Highlights
  - 9.1.1.1. Alcohol Trans-Esterification
  - 9.1.1.2. Hydro-Heating
9.2. Middle East & Africa Biodiesel Market Outlook, by Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 9.2.1. Key Highlights
  - 9.2.1.1. Vegetable Oil
  - 9.2.1.2. Animal Oil
  - 9.2.1.3. Used Cooking Oil
9.3. Middle East & Africa Biodiesel Market Outlook, by Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 9.3.1. Key Highlights
  - 9.3.1.1. Fuel
  - 9.3.1.2. Power Generation
  - 9.3.1.3. Agriculture
- 9.3.2. BPS Analysis/Market Attractiveness Analysis
9.4. Middle East & Africa Biodiesel Market Outlook, by Country, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 9.4.1. Key Highlights
  - 9.4.1.1. GCC Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.2. GCC Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.3. GCC Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.4. South Africa Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.5. South Africa Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.6. South Africa Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.7. Egypt Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.8. Egypt Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.9. Egypt Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.10. Nigeria Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.11. Nigeria Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.12. Nigeria Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.13. Rest of Middle East & Africa Biodiesel Market by Production Process, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.14. Rest of Middle East & Africa Biodiesel Market Feedstock Type, Volume (Tons) and Value (US$ Bn), 2018 - 2031
  - 9.4.1.15. Rest of Middle East & Africa Biodiesel Market Application, Volume (Tons) and Value (US$ Bn), 2018 - 2031
- 9.4.2. BPS Analysis/Market Attractiveness Analysis

10. Competitive Landscape

10.1. Application vs Feedstock Type Heatmap
10.2. Manufacturer vs Feedstock Type Heatmap
10.3. Company Market Share Analysis, 2022
10.4. Competitive Dashboard
10.5. Company Profiles
- 10.5.1. Archer Daniels Midland
  - 10.5.1.1. Company Overview
  - 10.5.1.2. Product Portfolio
  - 10.5.1.3. Financial Overview
  - 10.5.1.4. Business Strategies and Development
- 10.5.2. Marathon Petroleum Corporation
- 10.5.3. VERBIO
- 10.5.4. Renewable Energy Group, Inc.
- 10.5.5. NOVAOL, Italy
- 10.5.6. ARGENT ENERGY
- 10.5.7. MOL Group
- 10.5.8. Neste
- 10.5.9. Shell Plc
- 10.5.10. HERO BX
- 10.5.11. Ag Processing Inc.
- 10.5.12. Cargill Inc.
- 10.5.13. JBS
- 10.5.14. KFS Biodiesel GmbH & Co. KG
- 10.5.15. Batara Elok Semesta Terpadu

11. Appendix

11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations