Green Diesel Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Green diesel, also referred to as biodiesel, is a clean and renewable alternative fuel, which has similar molecular structure as petroleum and diesel, but offers superior quality. It is used as an alternative or is blended together with petroleum and diesel. Green diesel is a branched, paraffin-based product produced by hydrotreating triglycerides, found in vegetable oils with hydrogen. The hydrotreating reaction is a combination of three key reactions, hydrodeoxygenation for removal of oxygen, decarbonylation for removal of carbon monoxide & water, and decarboxylation for removal of carbon dioxide. Green diesel is more economical in comparison to petroleum and produces less pollutants. Owing to these benefits, it finds its application in various industries such as food & beverage and oil & gas across the globe.

COVID-19 scenario analysis

The novel coronavirus outbreak has negatively impacted the global economy. The impact is particularly acute on the overall fuel market. As all the countries are imposing restrictions on international travel and local movement of people to reduce the spread of the infection, the demand for fuels and green diesel has declined drastically. 

In addition, most of the manufacturing units are not performing with full capacity due to the decrease in demand, which has led to low energy requirement. As a result the demand for green diesel has declined, hampering the growth of the global market.

Top impacting factors: market scenario analysis, trends, drivers, and impact analysis

Rise in environmental concerns and surge in demand for clean energy significantly contribute toward the growth of the global green diesel market all over the world. In addition, steady development of the automotive industry boosts the market growth. Moreover, easy availability of feedstock supports the growth of the market. However, fluctuation in prices of the feedstock is expected hamper the market. Thus, key manufacturers have incorporated hydrated vegetable oil (HVO) techniques in the production process, as it yields valuable by-products in comparison to the traditional method.

The global green diesel market trends are as follows:

Acceptance of eco-friendly fuel 

Diesel fuels with high cetane number provides better performance, however, the use of diesel fueled engines leads to emission of harmful oxides of sulfur, nitrogen, and carbon, which are hazardous to the ecosystem and the environment. On the contrary, studies have revealed that there is no emission of harmful gasses nor any release of non-combusted fuel into the environment while using green diesel, which boosts its demand globally, thereby driving the market growth. Moreover, rise in consumer awareness toward a cleaner environment and the benefits of green diesel have led to its adoption worldwide.

Green diesel is proving to be more economic 

Several countries in the world depend upon the import of crude oil to meet the increasing demand for diesel fuels. With the rise in crude oil prices, the demand for green diesel is expected to witness a steady growth to cater to the need for clean and renewable sources of energy across the globe. Easy access to renewable raw materials make it possible for any country to manufacture green diesel instead of depending on the imports of crude oil. Moreover, the governments of developed and developing countries have mandated the blending of biodiesel with diesel fuels, which boosted the demands for green diesel across the globe.

Key benefits of the report

• This study presents the analytical depiction of the global green diesel industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global green diesel market share.
• The current market is quantitatively analyzed to highlight the global green diesel market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

 Green Diesel Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights