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Biodiesel - Global Market Trajectory & Analytics

  • ID: 338425
  • Report
  • February 2022
  • Region: Global
  • 514 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Albemarle Corporation
  • Dow Inc.
  • Kemira Oyj
  • MilliporeSigma
  • Nouryon
  • Suez SA

Global Biodiesel Market to Reach US$40.2 Billion by the Year 2026


Biodiesel is non-toxic, biodegradable, and free from sulfur and aromatic compounds. Biodiesel can be used in all diesel engines, is known to release lower air pollutants and greenhouse gases, and also reduces toxic carbon-dioxide emissions. Biodiesel is made from renewable feedstock such as animal fats, and vegetable oils. The global biodiesel market is driven by the increasing need for clean and renewable fuel sources. There is rising environmental consciousness leading to a preference for environment-friendly fuel. The soaring prices of non-renewable sources of energy such as due to their limited resources are driving focus onto alternative fuels. The main factor which influences growth is the rising concern over gas emissions by fossil fuels. Government policies favoring the promotion of sustainable projects that save energy and protect the environment are important drivers of growth in the biodiesel market. Advanced biofuels and ethanol are being promoted by the US Environment Protection Agency (EPA) through mandates and regulations. There is a growing demand for biodiesel for use in commercial cars to reduce usage of crude oil. Fuel oil blended biodiesel fuel blends are being researched to reduce dependence on petroleum in the transportation sector. Also favoring market growth is the continuous focus on research activities aimed at developing biodiesel products that can replace crude oil.

Amid the COVID-19 crisis, the global market for Biodiesel estimated at US$30.7 Billion in the year 2020, is projected to reach a revised size of US$40.2 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. Vegetable Oils, one of the segments analyzed in the report, is projected to grow at a 4.7% CAGR to reach US$33 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Animal Fats segment is readjusted to a revised 4.3% CAGR for the next 7-year period. Vegetable oils are easily available, renewable, biodegradable, easy to transport, and provide high heat content. Most of the companies use vegetable oils to produce biodiesel on account of its higher yield and renewability.



The U.S. Market is Estimated at $5.2 Billion in 2021, While China is Forecast to Reach $2.2 Billion by 2026


The Biodiesel market in the U.S. is estimated at US$5.2 Billion in the year 2021. The country currently accounts for a 16.2% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$2.2 Billion in the year 2026 trailing a CAGR of 5.9% through the analysis period. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 4.2% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR while Rest of European market (as defined in the study) will reach US$6 Billion by the end of the analysis period. Europe represents the leading region in the global biodiesel market. The region`s large share is due to the several government initiatives and regulations aimed at reducing greenhouse gas emissions. Biodiesel fuel consumption is on the rise in Europe on account of the government laws and programs and energy taxation regimes. The US is among the major producers and consumers of biodiesel. Increasing use of biodiesel in the United States is mainly driven by the presence of favorable legislations. Asia-Pacific region represents a promising market for biodiesel. Due to rapid industrialization and increase in demand for liquid fuel in power and transport sectors in emerging countries such as Indonesia, China, India, Thailand, and Malaysia, Asia Pacific will witness high growth in the coming years.

Transportation Fuel (Application) Segment to Reach $20.6 Billion by 2026


Biodiesel is increasingly playing a role as a fuel in automobiles, railways, agriculture, and maritime operations. Biodiesel has improved efficiency compared to gasoline and is useful for compression-ignition engines. Biodiesel is used in its pure form i.e. B100 or in the form of a blend with conventional petroleum diesel. Some of the blends of biodiesel include B2, B5 and B20, referring to 2%, 5% and 20% of biodiesel content, respectively. In the global Transportation Fuel (Application) segment, USA, Canada, China and Europe will drive the 4.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$10.1 Billion in the year 2020 will reach a projected size of US$13.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.9 Billion by the year 2026, while Latin America will expand at a 5.9% CAGR through the analysis period.

Select Competitors (Total 152 Featured) -

  • Albemarle Corporation
  • British Plastics Federation
  • Buckman Laboratories International, Inc.
  • BWA Water Additives
  • Champion Technology Services, Inc.
  • Chevron Oronite Company LLC
  • Dow Inc.
  • Ecolab, Inc.
  • Kemira Oyj
  • Lanxess AG
  • MilliporeSigma
  • Neste Oyj
  • Nouryon
  • RB Fuels
  • Renewable Energy Group, Inc.
  • Suez SA
  • TUBI THOR SPA
Frequently Asked Questions about the Global Market for Biodiesel

What is the estimated value of the Global Market for Biodiesel?

The Global Market for Biodiesel was estimated to be valued at $30.7 Billion in 2020.

What is the growth rate of the Global Market for Biodiesel?

The growth rate of the Global Market for Biodiesel is 4.6%, with an estimated value of $40.2 Billion by 2026.

What is the forecasted size of the Global Market for Biodiesel?

The Global Market for Biodiesel is estimated to be worth $40.2 Billion by 2026.

Who are the key companies in the Global Market for Biodiesel?

Key companies in the Global Market for Biodiesel include Albemarle Corporation, British Plastics Federation, Buckman Laboratories International, Inc., BWA Water Additives, Champion Technology Services, Inc., Chevron Oronite Company LLC, Dow Inc., Ecolab, Inc. and Lanxess AG.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Albemarle Corporation
  • Dow Inc.
  • Kemira Oyj
  • MilliporeSigma
  • Nouryon
  • Suez SA

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Impact of COVID-19 Outbreak on Clean Technologies
  • COVID-19 Outbreak Dampens Biofuel Consumption
  • Biofuel Production Unlikely to Stay on Subsistent Levels and Bounce Back Quickly
  • COVID-19 Impact on the Biodiesel Market
  • Biodiesel - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • An Introduction to Biodiesel
  • Characteristic Features of Biodiesel
  • Biodiesel Blend
  • Biodiesel Production Process
  • Raw Materials Used in Biodiesel Production
  • Benefits & Drawbacks of Biodiesel Consumption
  • Global Market Prospects & Outlook
  • Vegetable Oil: The Most Widely Used Feedstock for Biodiesel Production
  • Transportation Fuel Emerges as the Leading Application Category
  • Europe Leads the Biodiesel Market
  • Biodiesel Production Trends: An Overview
  • Global Biofuel Production Breakdown by Bioethanol and Biodiesel & HVOs for 2000 and 2020
  • Global Biodiesel Production (in Billion Liters and YoY % Growth) for the Years 2019-2022
  • Global Biodiesel Production Breakdown by Country/Region for 2020
  • Competition
  • Leading Biodiesel Producers in the US by Capacity (in Million Gallons Per Annum) for 2020
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Pressing Need for Alternative/Renewable Fuels Drives Focus onto Biofuels
  • Future Trends in Biofuel Industry to Impact Growth of Biodiesel Market
  • Depleting Fossil Fuel Resources and Shift Towards Renewable Energy Presents Opportunities for Biodiesel Market
  • Global Energy Mix: 1990 Vs 2020
  • Amidst Concerns over Rising Greenhouse Gas Emissions, Demand for Clean & Eco-Friendly Fuels Drives Growth in Biodiesel Market
  • Price of Carbon Emission in US$ per Metric Ton of CO2-Equivalent by Select Countries: 2019
  • Growing Importance of Biodiesel as a Substitute Fuel in Automotive Industry
  • Global Car Sales Breakdown by Fuel Type (in %) for 2019 and 2030P
  • Increasing Use of Biodiesel to Supplement Existing Engine Designs in Vehicles to Boost Market Growth
  • Power Generation: Potential for Biodiesel as Alternative to Conventional Fossil Fuels
  • Projected Global Demand for Electricity (MWh): 2015, 2020, 2025, 2030 & 2035
  • China and India Lead the Global Rise in Demand for Electricity: Change in Gross Electricity Demand in TWh for 2017-50
  • Need to Reduce GHG Emissions & Ensure Compliance with IMO Specifications Drives Marine Sector to Use Biofuels/Blends
  • Aviation Biofuels to Widen Growth Prospects
  • Technology Innovations Promise Further Opportunities for Biodiesel as Transportation Fuel
  • Emergence of New Feedstocks to Propel Biodiesel Production
  • Favorable Biofuel Blend Mandates & Blend Targets Offer Opportunities
  • Vegetable Oils-Based Biodiesel: Easy Modification of Existing Diesel Engines Fuels Adoption
  • Major Feedstock Use in Biodiesel Production by Region/Country
  • World Biodiesel & HVO Production Mix by Feedstock: 2020
  • World Vegetable Oils Production (Million Metric Tons) in by Country/Region (2017 to 2022E)
  • Global Production of Major Vegetable Oils: Breakdown of Volume Production (Million Metric Tons) by Type (2017-2022E)
  • Oil Price Volatility and Shift towards EVs Presents Challenges for Biodiesel Market
  • Global Electric Car Registrations Worldwide (in Thousands) for 2015-2020
  • Prices of Petroleum Derived Feedstock: A Critical Factor Impacting Biodiesel Demand
  • Global Brent Crude Oil Price Trends (in US$ per barrel) for Oct 2019-May 2021
  • Global Brent Crude Oil Price Trends (in US$ per barrel) for 2019-2022
  • Major Challenges Facing Biodiesel Market

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Impact of COVID-19 Pandemic on Biofuels Market
  • Biodiesel Production & Capacity: An Overview
  • US Biofuel Production Plant Capacity Breakdown (in %) by Type: As of Jan 2021
  • US Biodiesel Production in Million Gallons for the Years 2010 through 2020
  • US Biodiesel Production Capacity (in Million Gallons Per Day) for the Years 2016-2020
  • US Biodiesel Plant Production Capacity (in Million Gallons Per Year) by State: As of Jan 2021
  • Biodiesel Capacity in the US by Plant (As of Jan 2021)
  • Vegetable Oil in Biodiesel Production Gains Prominence
  • Growing Ecological Concerns Propel Cooking Oil Recycling Projects

CANADA

  • Market Overview

CHINA

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview
  • China Biofuels (Fuel Ethanol and Biodiesel) Market by Product Type: Percentage Breakdown of Volume Consumption for Fuel Ethanol and Biodiesel for 2020

EUROPE

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Biofuel Producers in the EU to Face Turbulent Times
  • Abundant Biofuel Feedstock Affects Demand in Europe
  • Biodiesel Market in Europe: An Overview
  • Biodiesel Production Capacity (in Million Liters) and % Capacity Usage in the EU for the Years 2011-2020
  • European Biodiesel Production Capacity Breakdown (in %) by Country for 2020
  • Renewable Energy & Fuel Quality Directives Guide Biofuel Adoption

FRANCE

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
  • Biofuel Blending Mandate to Stimulate Market

GERMANY

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
  • Market Overview
  • Certification & Documentation for Biofuel Sales Wield Positive Influence

ITALY

UNITED KINGDOM

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Market Overview

SPAIN


REST OF EUROPE

ASIA-PACIFIC

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview
  • Investments in Palm Oil-based Biodiesel Production Accelerates Market Expansion
  • RSPO Certification Status of Select Leading Palm Oil Producers in Asia

INDIA

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Market Overview
  • Second-Generation Biofuels Offer High Potential

INDONESIA

  • Palm Oil Production Drives Biofuel Market
  • Indonesian Palm Oil Production (in Million Metric Tons): 2013-2022E

THAILAND

REST OF ASIA-PACIFIC

  • Malaysia: A Major Producer of Palm Oil-based Biofuels
  • Malaysian Palm Oil Production (in Million Metric Tons): 2013-2022E

LATIN AMERICA

  • Biodiesel Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
  • Market Overview
  • Latin America Biofuels Consumption (in % Volume) by Biofuel Type for the Year 2020
  • Biodiesel Blend Rate in Select Countries: 2020

ARGENTINA

BRAZIL

  • Market Overview

REST OF LATIN AMERICA


REST OF WORLD

IV. COMPETITION

  • Total Companies Profiled: 152
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Albemarle Corporation
  • British Plastics Federation
  • Buckman Laboratories International, Inc.
  • BWA Water Additives
  • Champion Technology Services, Inc.
  • Chevron Oronite Company LLC
  • Dow Inc.
  • Ecolab, Inc.
  • Kemira Oyj
  • Lanxess AG
  • MilliporeSigma
  • Neste Oyj
  • Nouryon
  • RB Fuels
  • Renewable Energy Group, Inc.
  • Suez SA
  • TUBI THOR SPA
Note: Product cover images may vary from those shown