Global B20 Fuel Market

Global B20 Fuel Market Size, Share, Growth Analysis, By Application(Transportation, industrial), By Feedstock(Soybean oil, palm oil), By Distribution channel(Direct, wholesale) - Industry Forecast 2024-2031

Report ID: SQMIG10D2023 | Region: Global | Published Date: March, 2024
Pages: 178 | Tables: 93 | Figures: 76

Global B20 Fuel Market News

  • In December 2023, Thailand Government declared that as of May 1, regulatory changes will require B7 diesel to contain between 6.6% and 7% biodiesel, while the B20 diesel must incorporate 19-20% biodiesel, aligning with evolving standards in the industry. The Energy Business Department will seek Cabinet endorsement for discontinuing the sale of B10 diesel oil, leaving only B7 and B20 oil options available, the department’s chief said.

     

  • In October 2023, Adnoc Distribution, the UAE’s largest fuel and convenience retailer, announced that it will use biofuel to power its heavy vehicle fleet in the country. Its heavy vehicle fleet, supplying fuels and liquefied petroleum gas to corporate customers, will be powered by B20 biofuel, produced from waste cooking oil.

     

  • In July 2023, CSX reported testing of 20% soybean oil-based fuel in a locomotive fleet serving Tampa, Fla.-based phosphate customer Mosaic, which began in 2022 to demonstrate the effectiveness of the B20 biodiesel blend in Wabtec FDL Advantage engines.

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Global B20 Fuel Market size was valued at USD 43.21 billion in 2022 and is poised to grow from USD 45.02 billion in 2023 to USD 62.57 billion by 2031, at a CAGR of 4.2% during the forecast period (2024-2031).

Numerous players in the B20 fuel market are competing for a share of the market. The primary drivers of competition include pricing strategies, product quality, technological advancements, and distribution networks. 'Archer Daniels Midland', 'Cargill', 'Renewable Energy Group', 'Louis Dreyfus Company', 'Neste', 'REG Biofuels', 'TerraVia Holdings', 'Blue Sun Biodiesel', 'Crimson Renewable Energy', 'Delta American Fuel', 'Evergreen Biofuels', 'Flint Hills Resources', 'FutureFuel Chemical Company', 'HERO BX', 'Imperium Renewables', 'Iowa Renewable Energy', 'New Leaf Biofuel', 'Pacific Biodiesel', 'SeQuential', 'Western Dubuque Biodiesel'

Several governments have enacted policies and initiatives that encourage the adoption of biofuels, including B20 fuel. The primary goal of these measures is to reduce reliance on fossil fuels, decrease greenhouse gas emissions, and promote sustainable energy sources.

Over the years, the technology used to produce biodiesel has improved significantly, resulting in greater efficiency and cost-effectiveness. These advancements have played a crucial role in lowering the overall cost of biodiesel, making it a more feasible option in comparison to traditional petroleum diesel.

North America is the dominant region in the B20 fuel market, with the largest consumption of B20 fuel. The United States plays a significant role in driving demand in this region, due to the increasing adoption of biofuels by both government agencies and private companies.

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Global B20 Fuel Market

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