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Strategic Analysis of the Asia Pacific Biodiesel Industry
Frost & Sullivan, Nov 2007, Pages: 146
This Frost & Sullivan research service titled Strategic Analysis of the Asia Pacific Biodiesel Industry provides an overview of the biodiesel industry status in the following countries of the Asia Pacific region: Malaysia, Indonesia, The Philippines, Thailand, Singapore, China, India, Australia, New Zealand, Japan, South Korea, and Taiwan. A complete analysis of key market drivers, restraints, and trends that are impacting market participants is provided. Biodiesel consumption forecasts for each of the countries analyzed in the study is provided along with legislative, feedstock, and supply trends.
Market Overview
Governments’ Targets for Biofuels Consumption Encourage Growth of the APAC Biodiesel Industry
Most governments in the Asia Pacific region are recognizing that biodiesel can effectively reduce oil imports, improve fuel security, and stimulate domestic agriculture. Initially, the biodiesel sector in Asia Pacific focused on export opportunities, especially to the European Union. 'However, the past year has seen many countries move to stimulate domestic consumption aided by volume sales mandates, tax benefits, volume targets and other benefits,' notes the analyst of this research service. 'These measures should strengthen demand in the region and provide a viable alternative to exporting, although export markets will remain critical for the industry in some countries.'
Countries such as New Zealand and the Philippines have introduced blending mandates, either for biofuels as a class or specifically for diesel. On the other hand, the South Korean and Indonesian Governments have reached agreements with oil companies to introduce blends. Where diesel fuel is taxed, as in Australia, Thailand, and South Korea, some tax benefits have been given to biodiesel. Governments have also encouraged biodiesel production by offering waivers from corporate taxes, grants or other incentives. It is evident that such strong government support is significantly impacting the biodiesel industry in the Asia Pacific region.
Market Participants Must Tackle Rising Costs of Feedstock by Offering Suitable Alternatives
Although there are several strong drivers of growth in the Asia Pacific biodiesel industry, both for increased supply as well as demand, the past year witnessed a significant downturn in the fortunes of the biodiesel industry. This was mainly due to the significant increase in global feedstock prices that occurred since Q3 2006 (with the rise in palm oil prices being particularly dramatic), and the fall in mineral diesel prices since the middle of 2006, with signs of increases in the crude oil price only emerging recently. As a result, plants have delayed production, produced at below capacity or been deferred altogether.
Asia Pacific biodiesel producers need to address the likelihood of continued pressure on feedstock costs and ensure that they can produce as cost-effectively as possible, while simultaneously exploring alternative lower-cost feedstock supplies. 'Consequently, alternative feedstocks such as waste cooking oil and jatropha are being actively explored by producers in the region,' says the analyst. 'As these are available at a lower cost than the main vegetable oils, they can improve commercial viability for the biodiesel sector.'
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
By geographic region:
-Malaysia
-Indonesia
-The Philippines
-Thailand
-Singapore
-China
-India
-Australia
-New Zealand
-Japan
-South Korea
-Taiwan
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