Biodiesel is one of the most demanding renewable fuels in the United States. It is produced from plant-based oils or animal-based fats. Vegetable oils are a leading feedstock for biodiesel production in the United States. This biofuel can be used in diesel engines, either in its pure form or blended form. The government is appealing to adopt biodiesel, reducing carbon dioxide, greenhouse gas emissions, particulate pollution, etc.
The US biofuels industry is booming, and a fresh surge in production is just around the corner, thanks to increased demand for renewable diesel and sustainable aviation fuels (SAFs) in the coming years. Rystad Energy research predicts biofuel production in the US will increase by about 53% by the middle of the next decade, jumping from 850,000 barrels of oil equivalent per day in 2023 to about 1.3 million barrels in 2035. Domestic output is expected to surpass 1 million bpd as early as 2026.
The demand for renewable fuel in the United States is increasing. The biodiesel manufacturer expands production capacities by opening new facilities and upgrading the existing plants. Strategic investment introduces new players, showing biodiesel's role as a sustainable alternative fuel. This expansion fulfills current industry demands and creates job opportunities and energy security. Federal and state governments play a crucial role in making favorable policies that increase the production and consumption of biodiesel in the United States.
The surge of strategic investments and collaborations further pushes the United States biodiesel market. Many stakeholders extending across the value chain, whether manufacturers, tech visionaries, or giant oil corporations, are manifesting robust involvement in elevating biodiesel production centers and facilities. The significant investment in research & development leads to increased efficiencies and biodiesel's environmental viability. The correlation among these multiple entities and their efforts in the biodiesel sphere will further boost the biodiesel market in the United States.
Growing awareness regarding greenhouse gas effects on overall climate change is pushing interest in biodiesel, which causes insignificant carbon emissions compared to conventional sources of fossil fuels. As biodiesel comes from agriculture feedstock, it is an alternate source of income for farmers. Reduced emissions to a certain extent from biodiesel combustion lead to health benefits like lower rates of cardiovascular disease and respiratory disease, which are associated with air pollution.
This report covers a comprehensive breakdown and assessment of the market based on application. This encompasses power generation, fuel, and others. According to the publisher, fuel has the largest market share. In the United States, there is increasing demand for biodiesel in power generation and fuels as green and viable alternative fuels compared to conventional fossil fuels.
Competitive Landscape
Some of the prominent players in the United States biodiesel market include Archer Daniels Midland Company, FutureFuel, Neste’s, Renewable Energy Group, Inc., Bunge Global SA, Wilmar, and Shell.United States Biodiesel Market News
- In June 2022, Chevron acquired Renewable Energy Group (REG), a leading US biodiesel producer, to help expand its renewable fuels business and provide lower-carbon transportation solutions. Chevron aims to increase its renewable fuel production capacity to 100,000 barrels per day by 2030.
- In 2023, Be8 announced its entry into the US market, new biofuel production technology investments, and a cereal-based ethanol production project. The company's president said these actions indicate a new strategic direction to build a global technology company focused on renewable energies.
- In June 2023, Viridos received $25 million in funding from Breakthrough Energy Ventures, United Airlines Holdings Inc., and Chevron Corporation to develop a pilot facility for algae-based biofuel in California.
- In 2022, Pacific Biodiesel, Hawaii's only commercial producer of liquid biofuels, celebrated the 10th anniversary of its biodiesel refinery on Hawaii Island. The facility began producing biodiesel in 2012 and now produces more than 5.5 million gallons annually, all of which are sold in Hawaii.
- In September 2022, POET announced the launch of its 70 million gallons-per-year biofuels plant, Project Liberty, in Emmetsburg, Iowa. The plant specializes in converting corn crop residue into cellulosic ethanol.
Application - Market breakup in 3 viewpoints:
1. Fuel2. Power Generation
3. Others
Feedstock - Market breakup in 2 viewpoints:
1. Vegetable Oil2. Animal Fats
States - Market breakup of 29 States:
1. California2. Texas
3. New York
4. Florida
5. Illinois
6. Pennsylvania
7. Ohio
8. Georgia
9. New Jersey
10. Washington
11. North Carolina
12. Massachusetts
13. Virginia
14. Michigan
15. Maryland
16. Colorado
17. Tennessee
18. Indiana
19. Arizona
20. Minnesota
21. Wisconsin
22. Missouri
23. Connecticut
24. South Carolina
25. Oregon
26. Louisiana
27. Alabama
28. Kentucky
29. Rest of United States
All the key players have been covered from 3 Viewpoints:
- Overview
- Recent Development
- Revenue
Company Analysis
1. Archer Daniels Midland Company2. FutureFuel
3. Neste’s
4. Renewable Energy Group, Inc.
5. Bunge Global SA
6. Wilmar
7. Shell
Table of Contents
Companies Mentioned
- Archer Daniels Midland Company
- FutureFuel
- Neste’s
- Renewable Energy Group, Inc.
- Bunge Global SA
- Wilmar
- Shell
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 190 |
| Published | June 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 39.27 Billion |
| Forecasted Market Value ( USD | $ 66.65 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | United States |
| No. of Companies Mentioned | 7 |
