Global Biodiesel Market Size, Share, Growth Analysis, By Feedstock(Vegetable Oils, Animal Fats), By Application(Fuel, Power Generation)

Description

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).

The global biodiesel market is anticipated to experience significant growth due to the increasing demand for biodiesel as a replacement for traditional fossil fuels in power generation and automotive applications. This demand is driven by the need for environmentally friendly fuels that promote complete combustion and help reduce greenhouse gas emissions. Additionally, government support in the form of subsidies and mandates further indicates a positive outlook for the market.

In 2021, the biodiesel market experienced a decline in demand to 39.5 million tonnes, primarily due to reduced transportation activities during the pandemic. However, global consumption of biodiesel started to rebound strongly in the same year. Despite low prices for conventional fuels, the global energy market is committed to adhering to the goals of the Paris Agreement by reducing greenhouse gas emissions and transitioning to sustainable energy sources, which is expected to drive the adoption of biodiesel worldwide. The automotive industry, in particular, exhibits high demand for biodiesel due to its lower greenhouse gas emissions. This factor is anticipated to contribute to the growth of the global biodiesel market in the forecast period. As an example, Volvo CE India has announced that its customers will have access to specific blends of biodiesel to power their Volvo machines throughout the country.

Segments covered in this report:

The Global biodiesel market is segmented on the basis of feedstock, application, and region. By feedstock, the market is sub-segmented into vegetable oils, animal fats, and others. By application, the market is categorized into fuel, power generation, transportation and others. By region, the market is segmented into North America, Latin America, Europe, MEA, and Asia Pacific.

Driver

The global biodiesel market is expected to witness growth driven by the increasing emphasis on conscious living and environmental preservation. The concerns surrounding greenhouse gas emissions resulting from the use of fossil fuels are leading to a favorable environment for the biodiesel market. Biodiesel offers a significant reduction in greenhouse gas emissions, up to 50% when compared to petroleum diesel, and it also has low levels of toxic and carcinogenic aromatic carbon content. As a result, biodiesel manufacturers in various countries are shifting away from reliance on foreign oil reserves by promoting domestic production. Moreover, biodiesel can be used in diesel engines with minimal or no modifications to the engine or fuel system, making it a convenient and viable alternative fuel source.

Restraint

During the forecast period, the global biodiesel market growth may face challenges due to quality issues. The utilization of biodiesel fuel blends can potentially impact the performance of diesel engines and influence oil drain interval requirements. It is crucial to consider various factors related to fuel compatibility when using biodiesel in an engine. To prevent any adverse effects on the engine, some engine manufacturers impose restrictions on the use of biodiesel in certain engine models. These limitations are implemented to ensure optimal engine performance and prevent any potential negative consequences caused by biodiesel usage. Market Trends

The surge in crude oil prices has become a catalyst for countries and manufacturers to transition towards biodiesel as an alternative fuel source. Vegetable oils, which play a crucial role in biodiesel production, offer numerous advantages over crude oil, including lower cost and reduced greenhouse gas emissions. Consequently, there is a continuous increase in the global demand for biodiesel.

The extensive growth of biodiesel during the forecast period is primarily driven by its easy availability and the growing production capacity. Moreover, the rising number of vehicles capable of utilizing biodiesel as a fuel is generating a significant demand in the global market for biodiesel. These factors combined contribute to the expanding adoption and market growth of biodiesel.

Product Code: SQMIG10D2025

Executive Summary

Market Overview
Wheel of Fortune

Research Methodology

Information Procurement
Secondary & Primary Data Sources
Market Size Estimation
Market Assumptions & Limitations

Parent Market Analysis

Market Overview
Market Size
Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges

Key Market Insights

Technology Analysis
Pricing Analysis
Supply Chain Analysis
Value Chain Analysis
Ecosystem of the Market
IP Analysis
Trade Analysis
Startup Analysis
Raw Material Analysis
Innovation Matrix
Pipeline Product Analysis
Macroeconomic Indicators
Top Investment Analysis
Key Success Factor
Degree of Competition

Market Dynamics & Outlook

Market Dynamics
- Drivers
- Opportunities
- Restraints
- Challenges
Regulatory Landscape
Porters Analysis
- Competitive rivalry
- Threat of Substitute Products
- Bargaining Power of Buyers
- Threat of New Entrants
- Bargaining Power of Suppliers
Skyquest Special Insights on Future Disruptions
- Political Impact
- Economic Impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact

Global Biodiesel Market by Feedstock

Market Overview
Vegetable Oils
Animal Fats
and others

Global Biodiesel Market by Application

Market Overview
Fuel
Power Generation
Transportation
and others

Global Biodiesel Market Size by Region

Market Overview
North America
- USA
- Canada
Europe
- Germany
- Spain
- France
- UK
- Rest of Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA

Competitive Landscape

Top 5 Player Comparison
Market Positioning of Key Players, 2021
Strategies Adopted by Key Market Players
Top Winning Strategies
- By Development
- By Company
- By Year
Recent Activities in the Market
Key Companies Market Share (%), 2021

Key Company Profiles

Neste Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Archer Daniels Midland Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Cargill, Incorporated
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Wilmar International Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Renewable Energy Group, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Louis Dreyfus Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Bunge Limited
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
BIOX Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Royal Dutch Shell plc
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
TotalEnergies
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
BASF SE
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Evonik Industries AG
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Dow Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
DuPont de Nemours, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Novozymes A/S
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Eni S.p.A.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Sinopec Corp.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Mitsubishi Chemical Holdings Corporation
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Chemrez Technologies, Inc.
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments
Crown Iron Works Company
- Company Overview
- Business Segment Overview
- Financial Updates
- Key Developments

Global Biodiesel Market Size, Share, Growth Analysis, By Feedstock(Vegetable Oils, Animal Fats), By Application(Fuel, Power Generation) - Industry Forecast 2023-2030