Biodiesel, valued at US$ 23.50 billion in 2023, is forecasted to reach US$ 26.18 billion by 2030 with a CAGR of 1.6%, driven by growing downstream demand.
According to Publisher’s latest study, the global Biodiesel market size was valued at US$ 23500 million in 2023. With the growing demand in the downstream market, Biodiesel is forecast to a readjusted size of US$ 26180 million by 2030 with a CAGR of 1.6% during the review period.
Market Overview
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The research report highlights the growth potential of the global Biodiesel market. Biodiesel is expected to show stable growth in the future market. However, product differentiation, reducing costs, and supply chain optimization remain crucial for the widespread adoption of Biodiesel. Market players need to invest in research and development, forge strategic partnerships, and align their offerings with evolving consumer preferences to capitalize on the immense opportunities presented by the Biodiesel market.
Biodiesel is produced from vegetable oils or animal fats after conversion into a range of fatty acid methyl or ethyl esters (esterification), a sustainable replacement for fossil diesel that significantly reduces carbon emissions and makes environmental sustainability a commercial proposition.
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Sikandar Kesari
Research Analyst
The report on the Biodiesel market reflects various aspects and provides valuable insights into the industry.
Market Size and Growth: The research report provides an overview of the current size and growth of the Biodiesel market. It may include historical data, market segmentation by Type (e.g., Rapeseed Oil Based Feedstock, Soybean Oil Based Feedstock), and regional breakdowns.
Market Drivers: Growing consumer demand for greener fuels will propel the biodiesel business worldwide. Support for the environment Market expansion is being driven by enhanced consumer help, regulatory aid, geopolitical assistance, and economic and agricultural assistance. Vegetable oils can be used to produce biodiesel, which is widely used in many industries due to its low saturated fat content, which facilitates production and lowers overall costs. Moreover, compared to the feedstock needed to generate greases and animal fats, vegetable oils can be produced with far greater accessibility. The fuel application type segment is expected to lead the market, with power generation following closely behind. Europe is predicted to be the product's main market. The robust product demand in the automotive industry, coupled with various government initiatives aimed at reducing greenhouse gas emissions, is anticipated to propel market growth. The 2020 report from the National Biodiesel Board projects that by 2030, the amount of biodiesel used for off-road, civil aviation, power generation, and home heating applications will exceed six billion gallons, saving about 35 million metric tonnes of greenhouse gas emissions annually. By 2050, feedstock advancements will increase usage to 15 billion gallons. The market will probably grow shortly as a result.
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Throughout the forecast period, the biodiesel market is anticipated to rise at a faster rate due to growing demand from the automotive sector. It is anticipated that the firm will benefit from rising gas demand as commercial trucks switch from using crude oil. Because it includes fewer volatile organic compounds (VOCs), the fuel is better for the environment because it produces fewer greenhouse gases than regular diesel. Nonetheless, an increase in the sales of electric vehicles is probably going to impede the market's growth throughout the projection period.
Challenges- High feedstock costs for the manufacturing of biodiesel - The demand for clean-burning fuels, such as biodiesel, over conventional petroleum-based fuel is influenced by the agricultural commodities market. The most common feedstock used in the production of biodiesel is vegetable oil, which includes canola, soybean, and palm oils. Feedstock costs account for 80–85% of total production costs. Long-term financial stability for producers of biodiesel is at risk due to the extreme price volatility of the feedstocks they use. Profit will be decreased since feedstock costs would rise in tandem with biodiesel prices.
Opportunities: Low levels of petrochemicals. It is projected that the global petroleum reserve will persist until around 2050. This has prompted scientists to look for the best alternatives and provide fresh avenues for the biodiesel industry's overall expansion. However, it is anticipated that the call-supply mismatch brought about by limited production capacity and the enormous potential for research and development in feedstock selection for the production process would open doors for new market rivals. In addition, joint ventures and partnerships amongst manufacturers are anticipated to be part of the market to create substantial amounts of goods and meet the need for biodiesel.
Recent developments- November 2022: Total Energies awarded Technip Energies a contract to manufacture Sustainable Aviation Fuel (SAF) at the Grand Puits platform in France. The agreement includes EPC support for turning the refinery into a SAF-focused, zero-crude facility. Approximately 210,000 metric tons can be produced annually at this facility.
October 2022: To help Imperial build a state-of-the-art renewable diesel complex at the Strathcona refinery close to Canada, Fluor Corporation was given a reimbursable front-end engineering and comprehensive EPC services contract.
SLD Pumps & Power (SLD) declared in February 2022 that it would henceforth power its nationwide fleet of equipment with biodiesel fuel. An estimated 1 million L of extremely polluting mineral diesel will be consumed annually as a result of the move.
Market Segmentation:
There are two segments in the biodiesel market: type and application. Accurate calculations and forecasts for consumption value by Type and by Application in terms of volume and value are provided by the growth among segments for the 2019–2030 period. With a market share of more than 50%, the largest product category is Soybean Oil Feedstock. Transportation fuels are the most widely used application, followed by industrial fuels.
1. Segmentation by type
• Rapeseed Oil Based Feedstock
• Soybean Oil Based Feedstock
• Waste and Residue Based Feedstock
• Other
2. Segmentation by application
• Industrial Fuels
• Transportation Fuels
• Chemical
Regional Insights: The largest market share has been taken by the Europe area. Due to the product's early adoption in the area and the government's emphasis on moving away from carbon-emitting sources and toward bio-based ones, it has historically been the product's largest market. In Europe, the most used feedstocks for biodiesel production are urea-coated oil, palm oil, animal fats, rapeseed oil, soybean oil, and sunflower oil. The primary force behind the demand for products in the region is Germany, the European nation with the largest percentage of feedstock production. It is anticipated that lower interest rates for obtaining raw materials will boost consumption and quicken regional market expansion during the projection period. Asia Pacific is anticipated to expand quickly as well over the projected timeframe. Production is expected to increase, which is likely to drive market expansion for the duration of the projected year. However, because palm oil is also utilized in the food business, market expansion is expected to be limited. Throughout the projected period, market development is likely to be stimulated by the government's drive to promote green fuels to minimize pollution and dependence on crude oil. Europe is the largest market, with a share of over 50%, followed by North America and Asia-Pacific, both have a share of over 30% per cent.
3. Americas
• United States
• Canada
• Mexico
• Brazil
4. APAC
• China
• Japan
• Korea
• Southeast Asia
• India
• Australia
5. Europe
• Germany
• France
• UK
• Italy
• Russia
6. Middle East & Africa
• Egypt
• South Africa
• Israel
• Turkey
• GCC Countries
Competitive Landscape: Global Biodiesel key players include Diester Industries, Nestle Oil, ADM, Infinita Renovables, Biopetrol etc. Global top five manufacturers hold a share of over 15%. The companies profiled below were chosen after an analysis of the company's coverage, product portfolio, and market penetration, as well as feedback from primary experts.
• Diester Industries
• Neste Oil
• ADM
• Infinita Renovables
• Biopetrol
• Cargill
• Ital Green Oil
• Glencore
• Louis Dreyfus
• Renewable Energy
• RBF Port Neches
• Ag Processing
• Elevance
• Marathon Petroleum
• Evergreen Bio Fuels
• Minnesota Soybean Processors
• Caramuru
• Jinergy
• Hebei Jingu
• Longyan Zhuoyue
• Greenergy UK
• Biodiesel Amsterdam
• SunOil
• Petrotec
• Biocom
• SARIA Bio-Industries
• Biodiesel Aragon
• Bionor
• Iniciativas Bioenergeticas
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Biodiesel Annual Sales 2019-2030
2.1.2 World Current & Future Analysis for Biodiesel by Geographic Region, 2019, 2023 & 2030
2.1.3 World Current & Future Analysis for Biodiesel by Country/Region, 2019, 2023 & 2030
2.2 Biodiesel Segment by Type
2.2.1 Rapeseed Oil Based Feedstock
2.2.2 Soybean Oil Based Feedstock
2.2.3 Waste and Residues Based Feedstock
2.2.4 Other
2.3 Biodiesel Sales by Type
2.3.1 Global Biodiesel Sales Market Share by Type (2019-2024)
2.3.2 Global Biodiesel Revenue and Market Share by Type (2019-2024)
2.3.3 Global Biodiesel Sale Price by Type (2019-2024)
2.4 Biodiesel Segment by Application
2.4.1 Industrial Fuels
2.4.2 Transportation Fuels
2.4.3 Chemical
2.5 Biodiesel Sales by Application
2.5.1 Global Biodiesel Sale Market Share by Application (2019-2024)
2.5.2 Global Biodiesel Revenue and Market Share by Application (2019-2024)
2.5.3 Global Biodiesel Sale Price by Application (2019-2024)
3 Global Biodiesel by Company
3.1 Global Biodiesel Breakdown Data by Company
3.1.1 Global Biodiesel Annual Sales by Company (2019-2024)
3.1.2 Global Biodiesel Sales Market Share by Company (2019-2024)
3.2 Global Biodiesel Annual Revenue by Company (2019-2024)
3.2.1 Global Biodiesel Revenue by Company (2019-2024)
3.2.2 Global Biodiesel Revenue Market Share by Company (2019-2024)
3.3 Global Biodiesel Sale Price by Company
3.4 Key Manufacturers Biodiesel Producing Area Distribution, Sales Area, Product Type
3.4.1 Key Manufacturers Biodiesel Product Location Distribution
3.4.2 Players Biodiesel Products Offered
3.5 Market Concentration Rate Analysis
3.5.1 Competition Landscape Analysis
3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2019-2024)
3.6 New Products and Potential Entrants
3.7 Mergers & Acquisitions, Expansion
4 World Historic Review for Biodiesel by Geographic Region
4.1 World Historic Biodiesel Market Size by Geographic Region (2019-2024)
4.1.1 Global Biodiesel Annual Sales by Geographic Region (2019-2024)
4.1.2 Global Biodiesel Annual Revenue by Geographic Region (2019-2024)
4.2 World Historic Biodiesel Market Size by Country/Region (2019-2024)
4.2.1 Global Biodiesel Annual Sales by Country/Region (2019-2024)
4.2.2 Global Biodiesel Annual Revenue by Country/Region (2019-2024)
4.3 Americas Biodiesel Sales Growth
4.4 APAC Biodiesel Sales Growth
4.5 Europe Biodiesel Sales Growth
4.6 Middle East & Africa Biodiesel Sales Growth
5 Americas
5.1 Americas Biodiesel Sales by Country
5.1.1 Americas Biodiesel Sales by Country (2019-2024)
5.1.2 Americas Biodiesel Revenue by Country (2019-2024)
5.2 Americas Biodiesel Sales by Type
5.3 Americas Biodiesel Sales by Application
5.4 United States
5.5 Canada
5.6 Mexico
5.7 Brazil
6 APAC
6.1 APAC Biodiesel Sales by Region
6.1.1 APAC Biodiesel Sales by Region (2019-2024)
6.1.2 APAC Biodiesel Revenue by Region (2019-2024)
6.2 APAC Biodiesel Sales by Type
6.3 APAC Biodiesel Sales by Application
6.4 China
6.5 Japan
6.6 South Korea
6.7 Southeast Asia
6.8 India
6.9 Australia
6.10 China Taiwan
7 Europe
7.1 Europe Biodiesel by Country
7.1.1 Europe Biodiesel Sales by Country (2019-2024)
7.1.2 Europe Biodiesel Revenue by Country (2019-2024)
7.2 Europe Biodiesel Sales by Type
7.3 Europe Biodiesel Sales by Application
7.4 Germany
7.5 France
7.6 UK
7.7 Italy
7.8 Russia
8 Middle East & Africa
8.1 Middle East & Africa Biodiesel by Country
8.1.1 Middle East & Africa Biodiesel Sales by Country (2019-2024)
8.1.2 Middle East & Africa Biodiesel Revenue by Country (2019-2024)
8.2 Middle East & Africa Biodiesel Sales by Type
8.3 Middle East & Africa Biodiesel Sales by Application
8.4 Egypt
8.5 South Africa
8.6 Israel
8.7 Turkey
8.8 GCC Countries
9 Market Drivers, Challenges and Trends
9.1 Market Drivers & Growth Opportunities
9.2 Market Challenges & Risks
9.3 Industry Trends
10 Manufacturing Cost Structure Analysis
10.1 Raw Material and Suppliers
10.2 Manufacturing Cost Structure Analysis of Biodiesel
10.3 Manufacturing Process Analysis of Biodiesel
10.4 Industry Chain Structure of Biodiesel
11 Marketing, Distributors and Customer
11.1 Sales Channel
11.1.1 Direct Channels
11.1.2 Indirect Channels
11.2 Biodiesel Distributors
11.3 Biodiesel Customer
12 World Forecast Review for Biodiesel by Geographic Region
12.1 Global Biodiesel Market Size Forecast by Region
12.1.1 Global Biodiesel Forecast by Region (2025-2030)
12.1.2 Global Biodiesel Annual Revenue Forecast by Region (2025-2030)
12.2 Americas Forecast by Country
12.3 APAC Forecast by Region
12.4 Europe Forecast by Country
12.5 Middle East & Africa Forecast by Country
12.6 Global Biodiesel Forecast by Type
12.7 Global Biodiesel Forecast by Application
13 Key Players Analysis
13.1 Diester Industries
13.1.1 Diester Industries Company Information
13.1.2 Diester Industries Biodiesel Product Portfolios and Specifications
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