A05352 | Pages: NA | Sep 2022 | 4325 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
|
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Biodiesel Market
Request Now !Biodiesel is a fuel similar to fossil or conventional diesel. It is the best alternative for conventional diesel and can be used in vehicles without making any changes or modification to the regular diesel engines. It is renewable and clean burning fuel. Biodiesel is better for environment compared to the petroleum diesel owing to its properties such as clean-burning diesel, biodegradable, non-toxic, and produces fewer toxic pollutants & greenhouse gases. The feedstocks used for manufacturing of biodiesel are animal fats, recycled cooking oil, and vegetable oil. The process used for conversion of raw material such as vegetable oil into biodiesel is known as transesterification. In this process triglyceride (oil) reacts with alcohol in presence of strong alkaline catalyst such as sodium hydroxide to form glycerol and ester or biodiesel. Biodiesel has gained importance due to energy sustainability, rise in crude oil prices, growth in automobile industry, government support, and their low carbon emissions. However, the disadvantages of biodiesel include its incompatibility for use in low temperatures, clogging in engine, slight increase in nitrogen oxide emissions and others. In global biodiesel market, different blends of biodiesel are available such as B2, B5, B20, and B100 represent the amount of biodiesel and petrodiesel present in the fuel. For instance, in B2 the amount of biodiesel is 2% and amount of petrodiesel is 98% while in B100 the amount of biodiesel is 100% and amount of petrodiesel is 0%.
Factors such as government policies promoting biodiesel, need for energy independence, rise in environmental concerns, demand for military defense aircrafts, increase in concerns about greenhouse gas emissions, demand for renewable and clean source of energy and growth of automotive & aviation industries drive the global biodiesel market growth. However, high production cost of biofuels as compared to conventional fuels, rise in competition among key players, stringent rules and regulations, barriers in distribution& retailing, volatility in oil prices, surge in oil & fat demand, and reduction in agricultural land are the factors that restrain the global biodiesel market growth. Further, supply for future needs with new and improved technologies, alternative raw materials with higher yields such as algae and jatropha, enhancements in production capacity, improvement in distribution & supply chain strategies, and innovative risk management strategies are the biodiesel market opportunities for the growth.
The global biodiesel market is segmented into source, blend, end-use industry, and region. Further, based on source, the market is classified into vegetable oil, animal fats, recycled cooking oil, and others. On the basis of blend, the market is categorized into B2, B5, B20 and B100. Based on end-use industry, the market is divided into automotive, aviation, marine, agriculture, power generation, and others. On the basis of region, the global biodiesel market is studied across North America, Europe, Asia-Pacific, and LAMEA.Â
Key players operating in the global biodiesel market include Archer Daniels Midland Company, Wilmar International Ltd., Renewable Energy Group Inc., Crimson Renewable Energy LLC., Caramuru, Minnesota Soybean Processors, Flint Hills Resources, Neste Oil Rotterdam, Enerkem, and Green Fuels Ltd. Major players have acquired various strategies such as acquisitions, partnerships, collaboration, joint ventures, agreements, expansions and new product launches to create a strong consumer base in the market. For instance, in 2018, Renewable Energy Group Inc. launches REG Ultra Cleanâ„¢ Diesel, a blend of biodiesel and renewable diesel. This product launch helped Renewable Energy Group Inc. to expand its product portfolio range and strengthen its brand name in the global market.
Key Market Segments
Segments | Sub-segments |
---|---|
By SOURCE |
|
By BLEND |
|
By END-USE INDUSTRY |
|
By REGION |
|
Key Market Players
Loading Table Of Content...
Start reading.
This Report and over 13,000+ more Reports, Available with Avenue Library. T&C*.
10%
Discount
10%
Discount
15%
Discount
15%
Discount
Enterprise
License/PDF
20%
Discount
Library
Membership
*Taxes/Fees, if applicable will be added during checkout. All prices in USD
To ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers
Get insights on topics that are crucial for your business. Stay abreast of your interest areas.
Get Industry Data AlertsTo ensure high-level data integrity, accurate analysis, and impeccable forecasts
For complete satisfaction
On-demand customization of scope of the report to exactly meet your needs
Targeted market view to provide pertinent information and save time of readers