Market Research Future published a research report on “Biodiesel Market – Global Forecast till 2025” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2025.
The global biodiesel market is gaining ultimate traction over the past couple of years and is expected to grow in the period between 2016-2027. The growth in the global biodiesel market can be accredited to the various proactive implementation of biofuel policies across the globe. Market Research Future (MRFR) reveals in its reports that the reason behind the growth of the global biodiesel market is the formulation of fuel in recent times, which have eventually raised the demand of biodiesel market at a high CAGR.
The biodiesel market is dominant for increasing demand for energy and alternative power sources. Stringent laws imposed by the government concerning the environment is encouraging the market to be widespread globally. Biodiesel is the only and significant form of renewable fuel has been utilized across energy segments such as electricity, heat, and transportation. Thus, the future of the global Biodiesel Market is promising, which is expected to be at the same position in the years to come.
Factors Driving the Market
The government is initiating affirmative outlook programs to support biofuel sector substantially with the introduction of biofuel mandates across the growth which, in turn, is propelling the market growth at a faster pace. After witnessing the noble characteristics of the biodiesel market, the significant advantage of biodiesel is enhancement life of engines and zero contribution in polluting the environment. Biodiesel refers to the fuel which includes animal fat to vegetable oil and consists of long-chain alkyl esters (ethyl, methyl or propyl). These factors along with new governmental schemes on biodiesel usage are encouraging new manufacturers to set up numerous biodiesel plants to not only generate electricity, but also dispose of agricultural waste in a carbon-neutral manner. Hence, this will eventually be safer for the population from harmful emission.
Moreover, the massive support of biodiesel as an alternative fuel to power automobiles, which is mounting the global biodiesel market at a higher rate. Considering these factors supporting the biodiesel market, there is a high assertion that biodiesel market will witness a significant growth by 2027, registering a phenomenon CAGR in the coming years.
In the current scenario, the steel industry and others are making use of biodiesel for in-house energy generation and reducing emissions. On this parameter, the increasing environmental issues and policies embarked are also making significant efforts to raise the market to a higher level. As a result, the factors are gaining substantial backing which is propelling the biodiesel market with a confident pull.
Awareness among the population for significant use of power for the development of infrastructure and depleting non-renewable energy sources have contributed to the growth in the biodiesel market.
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The highly competitive biodiesel market appears to be fragmented due to the presence of several large and small-scale players. The competition in this well-established market is expected to intensify during the review period, witnessing various product innovations. Product launch, agreement & partnership, acquisition, and expansion are key strategies traced from the analysis of recent developments of key players. The high growth prospect demonstrated by the market is expected to attract several new entrants to the market.
Key players leading the biodiesel market include INEOS New Planet BioEnergy, Canergy LLC, Enerkem, Amyris, Abengoa Bioenergy, and Poet-DSM Advanced Biofuels LLC.
By Type : Bio-hydrogen, Methanol, and Cellulosic ethanol
By Application: Off-grid Electricity Supply and Transportation
By Region: North America, Europe, APAC, and Rest-of-the-World.
Detailed Regional Analysis
The regional inquiry into the biodiesel market includes regions of the global market North America, Europe, and APAC, among others. The North American region is observed to come forward as the dominant region in the market through the forecast period. The position of the North American region is expected to be solidified due to the favorable government regulations towards the use of biodiesel. The incorporation of biofuels is anticipated to amplify the demand in the North American region only if the market creates further scope for growth. The regional markets of Europe and APAC are the other key regions for the biodiesel market due to the enhanced demand for biofuels in the manufacturing sector in these regions. The surging demand levels in the APAC and the presence of foreign producers investing in the region are estimated to promote the biodiesel market in the region. The accessibility to sufficient land, feedstock, and capable workforce is also attracting these backers to transfer their manufacturing plants in the region.
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Table of Contents:
- Report Overview
- Market Trends and Competitive Landscapes
- Segmentation of Biodiesel Market by Type
- Segmentation of Market by End-Users
- Market Analysis by Major Regions
- Product Commodity of Market in Major Countries
- North America Biodiesel Landscapes Analysis
- Europe Biodiesel Landscapes Analysis
- Asia Pacific Biodiesel Landscapes Analysis
- Latin America, Middle East & Africa Biodiesel Landscapes Analysis
- Major Players Profile
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