Biodiesel Market Is Forecasted To Be USD 26690 Million By 2028 With A CAGR of 1.5% - Valuates Reports
BANGALORE, India, Feb. 17, 2022 /PRNewswire/ -- Biodiesel market is segmented by Type - Rapeseed Oil Based Feedstock, Soybean Oil Based Feedstock, Waste and Residues Based Feedstock, Other, Segment by Application - Industrial Fuels, Transportation Fuels, Chemical. Global Opportunity Analysis and Industry Forecast 2022 - 2028. It is published in Valuates Reports under the Energy & Utilities Category.
The global Biodiesel market size is estimated to be worth USD 24410 million in 2022 and is forecast to be a readjusted size of USD 26690 million by 2028 with a CAGR of 1.5% during the review period.
Major Factors Driving The Growth Of The Biodiesel Market Are
Increasing demand for biodiesel due to its environmentally friendly properties to reduce greenhouse gas emissions and raising public awareness are expected to drive the growth of the biodiesel market.
Positive government support for the biofuel sector, as well as increased R&D investments in innovative feedstock raw materials such as algae, animal fat, and UCO, are expected to fuel the biodiesel market growth.
Furthermore, biodiesel as a vehicle fuel is a cost-effective alternative to fossil-based diesel and it also improves air quality. This advantage is expected to further increase the adoption of the biodiesel market.
Browse The Table Of Contents And List Of Figures At https://reports.valuates.com/market-reports/QYRE-Auto-9Y4344/global-biodiesel
TRENDS INFLUENCING THE GROWTH OF BIODIESEL MARKET
The global demand for biodiesel is increasing as people become more aware of the depletion of nonrenewable energy sources, as well as the depletion of natural resources. To meet the growing demand for clean energy, biodiesel (a renewable energy source) fuel must be integrated with other energy sources. Furthermore, biodiesel can be a cheaper alternative to fossil-fuel-based diesel.
Biodiesel is the only alternative fuel that has passed the Environmental Protection Agency's (EPA) rigorous emissions and health effects study required by the Clean Air Act. When compared to petroleum diesel fuel, biodiesel emits significantly less carbon monoxide, particulate matter, unburned hydrocarbons, and sulfates. Furthermore, when compared to petrodiesel, biodiesel reduces carcinogenic compound emissions by up to 85 percent. When blended with petroleum diesel fuel, the amount of biodiesel in the blend reduces emissions in direct proportion to the amount of biodiesel in the blend. This factor is expected to drive the growth of biodiesel market growth.
Various technological advancements, such as the emergence of third-generation biofuels derived from algae, which can produce a diverse and large quantity of biofuel when compared to other feedstocks, are also contributing to the market's positive outlook. Other factors, such as the implementation of favorable government policies to promote its use for sustainable development, energy conservation, and environmental preservation, are expected to have a positive impact on the market in the coming years.
Get Your Sample Today: https://reports.valuates.com/request/sample/QYRE-Auto-9Y4344/Global_Biodiesel_Market
BIODIESEL MARKET SHARE ANALYSIS
Based on region, Europe is the largest market, with a market share of over 50%, followed by North America and Asia-Pacific, both with market shares of over 30%.
Based on region, Transportation fuel is expected to be the most lucrative segment. The scarcity of petroleum will make renewable energy sources even more appealing. Using alternative fuels is the most practical way to meet this rising demand. Biodiesel is the most promising candidate for diesel engine fuels. Biodiesel has a significant advantage over gasoline and petroleum diesel in terms of environmental friendliness.
Inquire For Customization: https://reports.valuates.com/request/customisation/QYRE-Auto-9Y4344/Global_Biodiesel_Market
Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Biodiesel Market By Company
- 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 BioFuels
- Minnesota Soybean Processors
- Caramuru
- Jinergy
- Hebei Jingu
- Longyan Zhuoyue
- Greenergy UK
- Biodiesel Amsterdam
- SunOil
- Petrotec
- Biocom
- SARIA Bio-Industries
- Biodiesel Aragon
- Bionor
- Iniciativas Bioenergeticas
- Valeo
Inquire For Chapter Cost: https://reports.valuates.com/request/chaptercost/QYRE-Auto-9Y4344/Global_Biodiesel_Market
Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-9Y4344&lic=single-user
SUBSCRIPTION
We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.
SIMILAR REPORTS
- The global Biofuels market size is estimated to be worth USD 76540 million in 2022 and is forecast to be a readjusted size of USD 100830 million by 2028 with a CAGR of 4.7% during the review period.
- The global Biofuel Enzymes market was valued at USD 627.6 million in 2020 and it is expected to reach USD 854.1 million by the end of 2027, growing at a CAGR of 4.5% during 2021-2027.
- The global sustainable aviation fuel market was valued at USD 72.1 million in 2020 and is projected to reach USD 6,261.9 million by 2030, registering a CAGR of 56.4% from 2021 to 2030.
- Global and China Cold Flow Improvers for Biodiesel Market Insights, Forecast to 2027
- Global Pure Biodiesel Market Insights and Forecast to 2028
- Global Biodiesel Fuel Testing Market Insights and Forecast to 2028
- Global Biodiesel Made from Waste Oil Market Research Report 2021
- Global and United States Advanced Biodiesel Market Insights, Forecast to 2027
- China Biodiesel Antioxidant Market Report & Forecast 2021-2027
- Global Coconut Biodiesel Market Insights and Forecast to 2028
- Global Biofuels and Biodiesel Market Insights, Forecast to 2028
Click Here To See Related Reports on Biodiesel Market
About Us:
Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.
Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.
To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.
Contact Us:
Valuates Reports
[email protected]
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports
Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
Share this article