The global market value of biodiesel is projected to surpass USD 47.90 billion in 2025. The growing prominence of biofuels as an alternative source in place of conventional fossil fuels is the key factor to supplement market growth. Increasing usage of biodiesel in power generation and automotive fuels is also projected to supplement market growth over the forecast period.
Adroit Market Analysis report on the global biodiesel market offers a holistic view of the market from 2015 to 2025, including factors such as demand dynamics, limitations, opportunities, threats, and regulatory overview. The report addresses both the present situation and future developments in the global and regional markets. The report also measures the market competition with the use of the five powers and positions of Porter's leading competitors based on their product range, regional presence, strategic initiatives, and total revenue. Prominent players involved in the global market for biodiesel have been studied in detail.
Biodiesel is an advanced biofuel that is sustainable and clean burning and can be made from various sources such as vegetable oils and animal fats. Biodiesel is seen as a renewable, domestic, and safe biofuel. Due to environmental degradation and resource depletion of conventional fossil fuels such as coal, the biodiesel industry is expected to see rapid growth in the coming years. Biodiesel is increasingly being used in the automotive industry, as it is consistent with the current system for engine and fuel use. Biofuels are used in power generation to run electricity generators. The global biofuel market overall is estimated to be witnessing impressive growth in the coming years.
The global biodiesel market is categorized by the feedstock and application segment. By the feedstock segment, vegetable oils dominated the market in 2019. High production capacities of soyabean oil, canola oils & corn oil along with cheaper price and know-how awareness about the process supported the market growth. In terms of application, the fuel segment dominated biodiesel demand owing to the growing usage of biodiesel in passenger cars.
By region, Europe dominated the biodiesel demand with >37% market share in 2019, whereas Asia Pacific emerged as the fastest-growing region. Rapid growth in end-user industries is projected to fuel the demand for biodiesel in the coming years.
The global biodiesel market is a highly fragmented industry with the presence of a large number of players. Major players in the global biodiesel market include Bunge Limited, Archer Daniels Midland Company (ADM), Neste Corporation, Wilmar International Limited, Biox Corporation, Cargill Inc, Terravia Holdings Inc., Renewable Energy Group Inc, Münzer Bioindustrie GmbH and several others.
Key segments of the global biodiesel market
Feedstock Overview, 2015-2025 (Million Litres) (USD Million)
- Vegetable Oils
- Soybean oil
- Canola oil
- Other edible oils
- Animal fats
- White grease
Application Overview, 2015-2025 (Million Litres)(USD Million)
- Power generation
Regional Overview, 2015-2025 (Million Litres)(USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa