Global biodiesel market is expected to grow at a steady CAGR during the forecast period. The global biodiesel market is driven by growing concerns pertaining to greenhouse gases emissions. Moreover, the governments across the globe are taking initiatives in terms of providing subsidies for the increased production of biodiesel, which is positively impacting the growth of market during the forecast period. Furthermore, increasing product demand from end user industries predominantly automotive sector is expected to bolster the growth of market over the next few years.
The global biodiesel market is segmented based on feedstock, blend, production technology, application, company, and region. Based on feedstock, the market can be categorized into rapeseed/canola, sunflower, soybean, corn, palm, coconut, animal fats, and others. Out of which, the rapeseed/canola segment dominated the market in 2021 and is expected to maintain its dominance during the forecast period as well, which can be attributed to its wide use in biodiesel production.
In terms of application, the market is fragmented into fuel, power generation and others. Among them, the fuel application segment held the largest market share until 2021 and is projected to lead during the forecast period as well. This is due to growing consumption of biodiesel fuel in marine, railway, automotive and agriculture industries.
The major players operating in the biodiesel market are Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, Royal Dutch Shell, Renewable Energy Group Inc., Louis Dreyfus Company, Cargill Inc., BIOX Corporation, Munzer Bioindustries, Emami Group, Thorney Technologies Ltd, BlueFire Renewables, Inc., Coskata Inc, Crop Energies DG, Siyanda Oil Holdings (Pty) Lyd and others. The key market players are adopting some competitive strategies such as mergers & acquisitions, partnership, agreements in order to expand their geographic reach and to increase their customer base.
Objective of the Study:
- To analyze and estimate the market size of global biodiesel market from 2017 to 2020.
- To estimate and forecast the market size of global biodiesel market from 2021 to 2027 and growth rate until 2027.
- To classify and forecast global biodiesel market based on feedstock, blend, production technology, application, company and regional distribution.
- To identify dominant region or segment in the global Biodiesel market.
- To identify drivers and challenges for global biodiesel market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global biodiesel market.
- To conduct pricing analysis for global biodiesel market.
- To identify and analyze the profile of leading players operating in global biodiesel market.
- To identify key sustainable strategies adopted by market players in global biodiesel market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the hospitals/clinics which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers and presence of all major players across the globe.
TechSci Research calculated the market size of global biodiesel market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Biodiesel manufacturers
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums and alliances related to biodiesel
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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