What is the global market size of Biodiesel Market?

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).

Who are the key vendors in the Global Biodiesel Market?

The global biodiesel market is fairly concentrated, with a few big and medium-sized players accounting for a large portion of market revenue. Major players are implementing numerous tactics, including acquisitions, strategic agreements and contracts, and mergers. For instance, in 2021, Continental Refining Company, Kentucky to invest additional USD 20 million in a biodiesel project. They announced that it is moving forward with plans to invest USD 20 million to acquire and install a soybean crushing, biodiesel refining and blending facility at the current CRC oil refinery in Somerset, Kentucky. 'Neste Corporation', 'Archer Daniels Midland Company', 'Cargill Incorporated', 'Wilmar International Limited', 'Renewable Energy Group, Inc.', 'Louis Dreyfus Company', 'Bunge Limited', 'BIOX Corporation', 'Royal Dutch Shell plc', 'TotalEnergies', 'BASF SE', 'Evonik Industries AG', 'Dow Inc.', 'DuPont de Nemours, Inc.', 'Novozymes A/S', 'Eni S.p.A.', 'Sinopec Corp.', 'Mitsubishi Chemical Holdings Corporation', 'Chemrez Technologies, Inc.', 'Crown Iron Works Company'

What is the key driver of Global Biodiesel Market?

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.

What is the key market trend for Global Biodiesel Market?

Raising crude oil prices is driving countries and manufacturers to switch towards biodiesel. Vegetable oils are playing a major role in the production of biodiesel and have many benefits as compared to crude oil such as lower cost, reduces emissions of GHG. As a result, the demand for biodiesel is increasing continuously across the globe.

Which region accounted for the largest share in Global Biodiesel Market?

Globally, the Asia Pacific region dominated the biodiesel market with a holding of 40% of the overall market. The Asia Pacific region is witnessing rapid growth due to the increasing industrialization and considerable escalation in fuel demand in the transport and power sectors in emerging countries such as Indonesia, China, Thailand, India, and Malaysia. According to a report of ERIA, the total demand of the ASEAN and East Asian Countries will reach nearly 37 million tons by 2035. In addition, the presence of progressive technology, expertise, encouraged exploration, and production capacities are likely to be another major factor to drive the market’s growth during the forecast period.

Biodiesel Market Size, Share, Growth Analysis, By Feedstock (Vegetable Oils, Animal Fats), By Type (Methanol, Biohydrogen & Cellulosic Ethanol), By Application (Fuel, Power Generation), By Region - Industry Forecast 2025-2032

Report ID: SQMIG10D2025 | Region: Global | Published Date: December, 2024
Pages: 242 | Tables: 64 | Figures: 75

Biodiesel Market News

in Biodiesel Industry

October 2024: The ORLEN Group started sales of its HVO100 fuel at two service stations in Germany. HVO100 is a second-generation biofuel, made from vegetable oils and waste products from the food and hospitality industries. The fuel can be used in most diesel engine vehicles without any modifications.
September 2024: Indian Oil Corporation achieved a biodiesel blending ratio of 0.49 percent, blending 23.24 crore liters of biodiesel with regular diesel. This surpassed the 0.43 percent blending ratio achieved by other oil marketing companies.
August 2024: Petrobras, Brazil’s state energy corporation, has expressed interest in repurchasing the Bahia biofuel facility that it sold to Mubadala. This emphasizes the strategic importance of biofuels in Brazil’s energy future.

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Biodiesel Market size was valued at USD 42.69 Billion in 2023 and is poised to grow from USD 44.93 Billion in 2024 to USD 67.64 Billion by 2032, growing at a CAGR of 5.25% during the forecast period (2025-2032).

The competitive landscape of the global biodiesel industry features a diverse array of players, ranging from established multinational corporations to innovative startups. These companies are actively engaged in biodiesel production, distribution, and research and development. The market's competitive dynamics are influenced by factors such as technological advancements, feedstock availability, production capacity, and geographical presence. Key players are continuously investing in research to enhance production efficiency and explore new feedstock sources. 'Renewable Energy Group, Inc. ', 'Archer Daniels Midland Company ', 'Neste Oyj ', 'Wilmar International Ltd ', 'Cargill, Inc. ', 'Bangchak Corporation Public Company Limited ', 'Ag Processing Inc. ', 'BIOX Corporation ', 'Novozymes A/S ', 'Green Plains Inc. ', 'Rapsoila ', 'Mid-America Biofuels, LLC ', 'U.S. Freedom Bio Fuels LLC ', 'Champway Technology Ltd. ', 'Green Biofuels ', 'Vegas Renewable Diesel Inc. ', 'GeoGreen Biofuels, Inc. ', 'SBI BioEnergy Inc. ', 'TECHNOILOGY ', 'EcoCeres Inc.'

Rising Demand for Renewable Energy: There is a growing global push for renewable energy sources to prevent climate change. Countries are establishing aggressive carbon neutrality targets, which is driving up the adoption of biodiesel as a sustainable alternative to fossil fuels. This trend is encouraged by a variety of government incentives and laws aimed at boosting greener fuels.

North America is the dominating region in the market owing to the spending done on renewable energy sources and the technological advancements taking place in the region. Another factor that has driven the market in both regions has been the availability of the required feedstock. Government support to reduce the carbon emissions via tax rebates over biofuels is the other factor that has led to growth of both the regions. The biodiesel market is experiencing substantial expansion due to North America’s strong regulatory framework and renewable fuel mandates. Thus, the regulatory guidance is projected to enable the region hold dominant position.

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Biodiesel Market Size, Share, Growth Analysis, By Feedstock (Vegetable Oils, Animal Fats), By Type (Methanol, Biohydrogen & Cellulosic Ethanol), By Application (Fuel, Power Generation), By Region - Industry Forecast 2025-2032

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What is the global market size of Biodiesel Market?

Who are the key vendors in the Biodiesel Market?

What is the key driver of Biodiesel Market?

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