Biodiesel Market Size, Share, Growth Analysis, By Feedstock(Vegetable Oils, Animal Fats), By Application(Fuel, Power Generation) - Industry Forecast 2024-2031

Biodiesel Market Drivers

Rise of Conscious Living and Safeguarding Environment to Boost Market Growth

• The rising concerns regarding greenhouse gas emissions due to the use of fossil fuels is creating a paved way for the growth of the global biodiesel market. It lowers the emission of greenhouse gasses up to 50% as compared to petroleum diesel and has low toxic and carcinogenic aromatic carbon content. Due to this, manufacturers of biodiesel from several countries have prevented their dependence on foreign oil reserves, as it can be domestically produced and can be consumed in any diesel engine with little or no alterations to the engine or fuel system.

• Increasing demand for biodiesel as automobile fuel across the globe is another major factor driving the growth of the market throughout the forecast period. Transesterification produces a high-quality advanced biofuel that meets ASTM D6751 requirements, and is expected to contribute significantly to the growth of the market.

Biodiesel Market Restraints

Quality Issues might Restrain Market during Forecast Period

• The use of biodiesel fuels blends can degrade diesel engine performance and might impact on oil drain interval requirements. A number of factors related to fuel compatibility need to be considered while using biodiesel in an engine. Several engine manufacturers limit the use of biodiesel in many engine models to ensure no adverse effects of the engine.

• Another concern in biodiesel are the difficulties caused by higher lubricity when transitioning from existing systems to biodiesel. The EPA recommends diesel vehicle owners to change fuel filters after the first tank of fuel.