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Asia-Pacific Hydrotreated Vegetable Oil Market - Analysis and Forecast, 2023-2032

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    Report

  • 112 Pages
  • December 2023
  • Region: Asia Pacific
  • BIS Research
  • ID: 5917897
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Introduction to Asia-Pacific (APAC) Hydrotreated Vegetable Oil Market

The Asia-Pacific hydrotreated vegetable oil market (excluding China) is estimated to reach $8.73 billion from $1.37 billion in 2022, at a growth rate of 19.73% during the forecast period 2023-2032. The growing demand from end-user industries like automotive, aviation, maritime, agriculture, and industrial, among others, is expected to drive up demand for hydrotreated vegetable oil-based fuels like renewable diesel and sustainable aviation fuel. Moreover, it is expected that the APAC hydrotreated vegetable oil market will continue to grow throughout the projected period of 2023-2032, as the automotive and aviation industries in several advanced economies, to adopt more sustainable aviation fuel and renewable diesel. But the limited supply of feed stocks is making businesses more competitive in the market for a steady supply of raw materials based on fatty acids, which is impeding the development of of the hydrotreated vegetable oil market.

Market Introduction

The APAC market would greatly benefit from the renewable diesel produced from hydrotreated vegetable oil, which has a number of advantages. The fact that it is renewable contributes to the reduction of carbon emissions, which is beneficial in the fight against climate change and the atmospheric concentration of greenhouse gases. It is also a good option for usage in areas with high temperatures because of its superior performance in cold weather. Because of this, it is the best choice for the APAC market's automotive, aviation, maritime, industrial, and other industries. Furthermore, conventional jet fuel may be easily replaced with sustainable aviation fuel (SAF) without requiring significant changes to aircraft engines or refueling infrastructure. Airlines may use SAF without having to make major modifications to their fleets or infrastructure thanks to this simple interface. As the use of hydrotreated vegetable oil continues to grow in various industries across the APAC market, its impact is expected to rise significantly in the near future.

Market Segmentation:

Segmentation 1: by Application

  • Renewable Diesel
  • Sustainable Aviation Fuel (SAF)

Segmentation 2: by End User

  • Transportation
  • Agricultural Machinery
  • Industrial
  • Others (Residential Buildings, Commercial Buildings, and Data Centers)

Segmentation 3: by Feedstock Type

  • Edible Vegetable Oils
  • Crude Palm Oil
  • Used Cooking Oil
  • Tall Oil
  • Animal Fats
  • Others (Non-Edible Vegetable Oil, Sludge Palm Oil Mill Effluent, and Refining Byproducts)

Segmentation 4: by Technology Type

  • Standalone Hydrotreating Technology
  • Co-Processing Technology

Segmentation 5: by Country

  • Japan
  • Indonesia
  • Malaysia
  • Singapore
  • Rest-of-Asia-Pacific and Japan

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand the different hydrotreated vegetable oil-based fuels, i.e., renewable diesel and sustainable aviation fuel, various end users, technology type, and feedstock types involved in the production of hydrotreated vegetable oils. Moreover, the study provides the reader with a detailed understanding of the APAC hydrotreated vegetable oil market based on the end user (transportation, agricultural machinery, industrial, and others).

Growth/Marketing Strategy: The APAC hydrotreated vegetable oil market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the APAC hydrotreated vegetable oil market.

Competitive Strategy: Key players in the APAC hydrotreated vegetable oil market analyzed and profiled in the study involve HVO-based fuel manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the APAC hydrotreated vegetable oil market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.


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Table of Contents

Executive SummaryScope of the Study
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Hydrotreated Vegetable Oil as Second-Generation Biofuel
1.1.1.2 Hydrotreated Vegetable Oil as a Sustainable Replacement for Fossil Fuels
1.1.2 Supply Chain Analysis
1.1.2.1 Key Startups in the Ecosystem
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory Bodies
1.1.4 Key Patent Analysis
1.1.4.1 Key Patent Analysis (by Status)
1.1.4.2 Key Patent Analysis (by Organization)
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Government Regulations toward Low Carbon Emissions
1.2.1.2 Applicability in Existing Energy Infrastructure
1.2.1.3 Increasing Investment in Hydrotreated Vegetable Oil Production
1.2.2 Business Restraints
1.2.2.1 Lower Density and Energy Content than Fossil Fuels
1.2.2.2 Continuous Supply of Renewable Feedstock
1.2.3 Business Strategies
1.2.3.1 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers, Acquisitions, Partnerships, and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Growing Applications of Hydrotreated Vegetable Oil
1.2.5.2 Advancements in Hydrotreated Vegetable Oil Technologies
1.3 Comparison between Hydrotreated Vegetable Oil and other Sustainable Fuels
1.4 Future Raw Materials for Hydrotreated Vegetable Oil
1.5 Production Capacity Analysis
1.6 Supply and Demand Analysis for Hydrotreated Vegetable Oil
2 Regions
2.1 China
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Manufacturers/Suppliers in China
2.1.1.3 Business Challenges
2.1.1.4 Business Drivers
2.1.2 Application
2.1.2.1 China Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.1.2.2 China Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.1.3 Product
2.1.3.1 China Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.1.3.2 China Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.2 Asia-Pacific and Japan
2.2.1 Market
2.2.1.1 Key Manufacturers/Suppliers in Asia-Pacific and Japan
2.2.1.2 Business Challenges
2.2.1.3 Business Drivers
2.2.2 Application
2.2.2.1 Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.2.2.2 Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.2.3 Product
2.2.3.1 Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.2.3.2 Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.2.4 Asia-Pacific and Japan: Country-Level Analysis
2.2.4.1 Japan
2.2.4.1.1 Market
2.2.4.1.1.1 Buyer Attributes
2.2.4.1.1.2 Key Manufacturers/Suppliers in Japan
2.2.4.1.1.3 Business Challenges
2.2.4.1.1.4 Business Drivers
2.2.4.1.2 Application
2.2.4.1.2.1 Japan Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.2.4.1.2.2 Japan Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.2.4.1.3 Product
2.2.4.1.3.1 Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.2.4.1.3.2 Japan Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.2.4.2 Indonesia
2.2.4.2.1 Market
2.2.4.2.1.1 Buyer Attributes
2.2.4.2.1.2 Key Manufacturers/Suppliers in Indonesia
2.2.4.2.1.3 Business Challenges
2.2.4.2.1.4 Business Drivers
2.2.4.2.2 Application
2.2.4.2.2.1 Indonesia Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.2.4.2.2.2 Indonesia Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.2.4.2.3 Product
2.2.4.2.3.1 Indonesia Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.2.4.2.3.2 Indonesia Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.2.4.3 Malaysia
2.2.4.3.1 Market
2.2.4.3.1.1 Buyer Attributes
2.2.4.3.1.2 Key Manufacturers/Suppliers in Malaysia
2.2.4.3.1.3 Business Challenges
2.2.4.3.1.4 Business Drivers
2.2.4.3.2 Application
2.2.4.3.2.1 Malaysia Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.2.4.3.2.2 Malaysia Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.2.4.3.3 Product
2.2.4.3.3.1 Malaysia Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.2.4.3.3.2 Malaysia Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.2.4.4 Singapore
2.2.4.4.1 Market
2.2.4.4.1.1 Buyer Attributes
2.2.4.4.1.2 Key Manufacturers/Suppliers in Singapore
2.2.4.4.1.3 Business Challenges
2.2.4.4.1.4 Business Drivers
2.2.4.4.2 Application
2.2.4.4.2.1 Singapore Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.2.4.4.2.2 Singapore Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.2.4.4.3 Product
2.2.4.4.3.1 Singapore Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.2.4.4.3.2 Singapore Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.2.4.5 Rest-of-Asia-Pacific and Japan
2.2.4.5.1 Market
2.2.4.5.1.1 Buyer Attributes
2.2.4.5.1.2 Key Manufacturers/Suppliers in the Rest-of-Asia-Pacific and Japan
2.2.4.5.1.3 Business Drivers
2.2.4.5.1.4 Business Challenges
2.2.4.5.2 Application
2.2.4.5.2.1 Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.2.4.5.2.2 Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.2.4.5.3 Product
2.2.4.5.3.1 Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.2.4.5.3.2 Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
3 Markets - Competitive Benchmarking & Company Profiles
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.3 Company Profiles
3.3.1 PT Pertamina
3.3.1.1 Company Overview
3.3.1.1.1 Role of PT Pertamina in the Hydrotreated Vegetable Oil Market
3.3.1.1.2 Product Portfolio
3.3.1.2 Business Strategies
3.3.1.2.1 Market Developments
3.3.1.3 Analyst View
4 Research Methodology
4.1 Data Sources
4.1.1 Primary Data Sources
4.1.2 Secondary Data Sources
4.2 Data Triangulation
4.3 Market Estimation and Forecast
4.3.1 Factors for Data Prediction and Modelling
List of Figures
Figure 1: Hydrotreated Vegetable Oil Market Overview, Billion Liters, 2022-2032
Figure 2: Hydrotreated Vegetable Oil Market Overview, $Billion, 2022-2032
Figure 3: Hydrotreated Vegetable Oil Market (by Application), $Billion, 2022-2032
Figure 4: Hydrotreated Vegetable Oil Market (by End User), $Billion, 2022-2032
Figure 5: Hydrotreated Vegetable Oil Market (by Feedstock Type), $Billion, 2022-2032
Figure 6: Hydrotreated Vegetable Oil Market (by Technology Type), $Billion, 2022-2032
Figure 7: Hydrotreated Vegetable Oil Market (by Region), $Billion, 2022
Figure 8: Hydrotreated Vegetable Oil Market Supply Chain Analysis
Figure 9: Total Year-Wise Key Patents Filed for Hydrotreated Vegetable Oil Market, January 2019-December 2022
Figure 10: Total Year-Wise Key Patents Granted for Hydrotreated Vegetable Oil Market, January 2019-December 2022
Figure 11: Key Patent Analysis (by Status), January 2019-December 2022
Figure 12: Key Patent Analysis (by Organization), January 2019-December 2022
Figure 13: Business Dynamics for Hydrotreated Vegetable Oil Market
Figure 14: Carbon Dioxide Emission by Countries in 2021
Figure 15: Hydrotreated Vegetable Oil Production Capacities, Million Liters, 2019-2022
Figure 16: Capacity Addition Share (by Region), 2019-2022
Figure 17: Renewable Diesel Supply Growth by Region in 2022:
Figure 18: Renewable Diesel Demand Growth by Region in 2021-2022:
Figure 19: Sustainable Aviation Fuel (SAF) Supply Growth between 2018-2022:
Figure 20: Sustainable Aviation Fuel (SAF) Demand Growth by Region in 2021-2022:
Figure 21: Competitive Benchmarking for Hydrotreated Vegetable Oil Market
Figure 22: Research Methodology
Figure 23: Data Triangulation
Figure 24: Top-Down and Bottom-Up Approach
Figure 25: Assumptions and Limitations
List of Tables
Table 1: Hydrotreated Vegetable Oil Market Overview
Table 2: Comparison between HVO Diesel and Fossil Diesel
Table 3: List of Key Startups
Table 4: Key Consortiums and Associations
Table 5: List of Regulatory Bodies
Table 6: Production Capacity Expansion (by Companies)
Table 7: Hydrotreated Vegetable Oil Market (by Region), Million Liters, 2022-2032
Table 8: Hydrotreated Vegetable Oil Market (by Region), $Million, 2022-2032
Table 9: China Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 10: China Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 11: China Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 12: China Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 13: China Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 14: China Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 15: China Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 16: China Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 17: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 18: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 19: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 20: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 21: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 22: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 23: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 24: Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 25: Japan Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 26: Japan Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 27: Japan Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 28: Japan Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 29: Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 30: Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 31: Japan Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 32: Japan Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 33: Indonesia Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 34: Indonesia Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 35: Indonesia Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 36: Indonesia Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 37: Indonesia Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 38: Indonesia Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 39: Indonesia Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 40: Indonesia Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 41: Malaysia Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 42: Malaysia Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 43: Malaysia Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 44: Malaysia Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 45: Malaysia Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 46: Malaysia Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 47: Malaysia Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 48: Malaysia Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 49: Singapore Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 50: Singapore Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 51: Singapore Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 52: Singapore Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 53: Singapore Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 54: Singapore Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 55: Singapore Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 56: Singapore Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 57: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 58: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 59: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 60: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 61: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 62: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 63: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 64: Rest-of-Asia-Pacific and Japan Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 65: Market Share Analysis: Hydrotreated Vegetable Oil Market, 2022

Companies Mentioned

  • PT Pertamina

Table Information

Report AttributeDetails
No. of Pages112
PublishedDecember 2023
Forecast Period2023 - 2032
Estimated Market Value ( USD ) in 2023 $ 1.72 Billion
Forecasted Market Value ( USD ) by 2032 $ 8.73 Billion
Compound Annual Growth Rate19.7%
Regions CoveredAsia Pacific

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About the Hydrotreated Vegetable Oil Market

Hydrotreated Vegetable Oil (HVO) is a type of oil derived from vegetable sources such as soybean, rapeseed, sunflower, and palm. It is produced through a process of hydro-treatment, which involves the use of hydrogen to break down the oil’s molecular structure. This process removes impurities and increases the oil’s stability, making it a suitable alternative to traditional fossil fuels. HVO is used in a variety of applications, including as a fuel for diesel engines, as a lubricant, and as a base for bio-based products. It is also used in the production of biodiesel, a renewable fuel that can be used in place of diesel. HVO is becoming increasingly popular due to its environmental benefits. It is a renewable resource, and its production does not produce any greenhouse gases. Additionally, it is biodegradable and non-toxic, making it a safe alternative to traditional fossil fuels. Some companies in the HVO market include Neste, Renewable Energy Group, and Cargill. Show Less Read more

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