Biodiesel Market is Predicted to Witness Huge Growth in Coming Years: P&S Intelligence

NEW YORK, Aug. 2, 2021 /PRNewswire/ -- The burgeoning requirement for reducing greenhouse gas emissions, implementation of government initiatives, enactment of mandatory regulations regarding the usage of biodiesel,  and soaring demand for biodiesel for replacing crude oil are fueling the expansion of the biodiesel market. Because of these factors, the market is predicted to exhibit huge expansion during 2021–2030, according to P&S Intelligence.

The COVID-19 pandemic has massively hampered the progress of the biodiesel market by disrupting the operations of freight, logistics, and manufacturing industries. Because of the implementation of strict lockdown measures by the governments of many countries, the demand for fuel has fallen massively since 2020. This was mainly because of the disruptions in transportation operations and the reduced requirement for daily transportation, on account of the closing down of offices and factories to mitigate the spread of the virus.

Get the Sample Copy of this Report at @ https://www.psmarketresearch.com/market-analysis/biodiesel-market/report-sample

Depending on feedstock, the biodiesel market is divided into animal oils and vegetable oils. Between these, the vegetable oils category dominated the market in 2020. This was because of the abundant availability of vegetables as raw materials and the easy process required for converting vegetable oils into biodiesel.

The biodiesel market is also classified into power generation, fuel, and others, on the basis of application. Out of these, the fuel category led the market, both in terms of revenue and volume, in the past few years. Moreover, this category is predicted to expand rapidly during the forecast period, due to the increasing demand for biodiesel as a fuel in the automotive, agriculture, railways, and maritime industries.

Browse detailed report with COVID-19 impact analysis on Biodiesel Market Research Report: By Feedstock (Vegetable Oils, Animal Oils), Blend (B100, B20, B10, B5), Production Technology (Pyrolysis, Transesterification), Application (Fuel, Power Generation) - Global Industry Analysis and Growth Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/biodiesel-market

Across the globe, Europe held the largest share in the biodiesel market in 2020. This is credited to the increasing implementation of regulations by the governments of many countries for reducing greenhouse gas emissions, on account of their surging focus on improving air quality.

The players operating in the biodiesel market are focusing on collaborations and partnerships for gaining a competitive edge. For example, Renewable Energy Group (REG), which is a biodiesel producer, launched a partnership with Broco Oil Company in May 2019 for providing clean fuel options to heating oil dealers based in Northeast U.S. The firms will provide Bioheat, which is a blend of ultra-low sulphur heating oil and biodiesel, from the production facility located in Haverhill.

Some of the major biodiesel market players are Wilmar International Limited, Archer Daniels Midland Company, Bunge Limited, Münzer Bioindustrie GmbH, Emami Group, Neste Oyj, BIOX Corporation, Renewable Energy Group Inc., Cargill Inc., and Louis Dreyfus Company B.V.

Browse Other Related Reports

Methanol Market Report - The Asia-Pacific methanol market will register the fastest growth in the coming years. This will be due to the expanding chemical and construction industries, which employ a large quantity of methanol. Moreover, the rising usage of methanol as biofuel in the automobile industry will boost the market growth in the region.

Diesel Genset Market Report - Asia-Pacific has been the largest diesel genset market till now, driven by the rising construction activities, increasing installation of low-power-rating gensets at telecommunication towers, and high demand for diesel generators in the residential and commercial sectors. In addition, in China and India, diesel generators are popular as a source of auxiliary power in all industries.

Green Chemicals Market Report - Globally, the Asia-Pacific green chemicals market will be very prosperous in the forthcoming years. This is credited to the rising requirement for these chemicals in various industries such as personal care, agriculture, and automotive, especially in the developing nations of the region.

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:                     

Prajneesh Kumar
P&S Intelligence
Contact: +1-347-960-6455
Email: [email protected]
Web: https://www.psmarketresearch.com

SOURCE P&S Intelligence