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Biodiesel Market, Size, Share, Global Forecast 2024-2030, Industry Trends, Growth, Insight, Top Companies Analysis

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    Report

  • 170 Pages
  • March 2024
  • Region: Global
  • Renub Research
  • ID: 5411851
Global biodiesel market is expected to be worth around US$ 59.26 billion by 2030. In modern instances, biodiesel performs a crucial role in addressing environmental challenges and electricity sustainability. As a renewable gas derived from natural assets like vegetable oils and animal fat, biodiesel extensively reduces greenhouse fuel emissions as compared to standard diesel, mitigating climate exchange influences. Its use promotes energy independence by lowering reliance on fossil fuels, contributing to countrywide protection. Additionally, biodiesel supports agricultural economies by developing new markets for farm merchandise, fostering rural improvement, and improving overall environmental quality.

Global Biodiesel Market is projected to boom at a CAGR of 6.05% between 2024 and 2030

As per the Iowa Renewable Fuels Association, biodiesel slashes greenhouse gasoline emissions by as much as 86%, is non-toxic, and biodegradable. Its utilization additionally reduces particulate count through 47%, hydrocarbon emissions by as much as sixty seven%, and mitigates smog. Biodiesel production appreciably curtails wastewater by 79% and dangerous waste through 96% as opposed to petroleum diesel. Consequently, the growing desire for sustainable practices amongst environmentally-conscious purchasers fuels biodiesel demand, using market increase as more consumers are trying to find cleaner gasoline alternatives.

Moreover, increasing manufacturing meets the rising demand, bolstering the global biodiesel market by presenting more sustainable fuel options and mitigating reliance on fossil fuels. According to the US Environmental Protection Agency (EPA), US manufacturing of biomass-based diesel, encompassing biodiesel, renewable diesel, sustainable aviation fuel (SAF), and heating oil, reached four billion gallons in 2023. Both home production and use of advanced biomass-based diesel grew by 1 billion gallons in 2023 compared to 2022, indicating a vast expansion in the quarter. Hence, the Global Biodiesel Market was priced at US$ 39.27 Billion in 2023.

Besides, maximum new biofuel demands emerge from robust guidelines in emerging economies, particularly Brazil, Indonesia, and India. With hovering transport fuel desires and ample feedstock capacity, those international locations witness massive ethanol and biodiesel usage expansion. Indonesia, the world's biggest biodiesel manufacturer, is important in exemplifying its commitment to reducing greenhouse gas emissions and boosting its financial system. Beyond being the most outstanding international biodiesel manufacturer, Indonesia's big palm oil industry and favorable agricultural setup contribute to its leadership. In a bid to reduce energy imports and promote palm oil consumption, Indonesia's Energy Ministry plans to test B40 mixing, incorporating 30% Fatty Acid Methyl Ester (FAME) and 10% distilled Palm Methyl Ester (DPME) or 10% green diesel from palm oil.

China could emerge as a significant player in the worldwide biodiesel industry

Based on countries, the global biodiesel market is divided into the United States, Canada, France, Germany, Italy, Spain, United Kingdom, Belgium, Netherlands, Turkey, China, Japan, India, Australia, South Korea, Thailand, Malaysia, Indonesia, New Zealand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, and the United Arab Emirates. China has the capacity to become a considerable player in the global biodiesel market due to its considerable population, increasing energy demands, and growing awareness of environmental concerns. In 2021, China is forecasted to supply 1.9 billion liters of biodiesel, with local demands anticipated to account for just 40% of that, in line with statistics from the U.S. Department of Agriculture (USDA). Besides, government assistance for renewable energy tasks is contributing to the boom of the global biodiesel market. For instance, in 2021, China released a sequence of pilot tasks to stimulate domestic manufacturing and consumption of biodiesel, as pronounced by the National Energy Administration (NEA), improving environmental efforts in an area where the country trails other major economies.

Key Players

Archer Daniels Midland Company, FutureFuel, Nestle’s, Renewable Energy Group, Inc., Bunge Global SA, Wilmar, and Shell are significant companies in the global biodiesel market.

In October 2022 - Fluor Corporation was awarded a contract to provide front-end engineering and detailed EPC services to Imperial on a reimbursable basis for developing a renewable diesel complex at the Strathcona refinery near Canada.

Application - Market breakup in 3 viewpoints:

1. Fuel
2. Power Generation
3. Others

Feedstock - Market breakup in 2 viewpoints:

1. Vegetable Oil
2. Animal Fats

Countries - Market breakup of 25 Countries Covered in the Report:

1. North America
1.1 United States
1.2 Canada

2. Europe
2.1 France
2.2 Germany
2.3 Italy
2.4 Spain
2.5 United Kingdom
2.6 Belgium
2.7 Netherlands
2.8 Turkey

3. Asia Pacific
3.1 China
3.2 Japan
3.3 India
3.4 South Korea
3.5 Thailand
3.6 Malaysia
3.7 Indonesia
3.8 Australia
3.9 New Zealand

4. Latin America
4.1 Brazil
4.2 Mexico
4.3 Argentina

5. Middle East & Africa
5.1 Saudi Arabia
5.2 United Arab Emirates
5.3 South Africa

All the Key players have been covered from 3 Viewpoints:

  • Overview
  • Recent Development
  • Revenue Analysis

Company Analysis:

1. Archer Daniels Midland Company
2. FutureFuel
3. Nestle’s
4. Renewable Energy Group, Inc.,
5. Bunge Global SA
6. Wilmar
7. Shell

Table of Contents

1. Introduction2. Research Methodology3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Biodiesel Market
6. Market Share - Global Biodiesel Market
6.1 By Application
6.2 By Feedstock
6.3 By Country
7. Application - Global Biodiesel Market
7.1 Fuel
7.2 Power Generation
7.3 Others
8. Feedstock - Global Biodiesel Market
8.1 Vegetable Oil
8.2 Animal Fats
9. Country - Global Biodiesel Market
9.1 North America
9.1.1 United States
9.1.2 Canada
9.2 Europe
9.2.1 France
9.2.2 Germany
9.2.3 Italy
9.2.4 Spain
9.2.5 United Kingdom
9.2.6 Belgium
9.2.7 Netherlands
9.2.8 Turkey
9.3 Asia Pacific
9.3.1 China
9.3.2 Japan
9.3.3 India
9.3.4 South Korea
9.3.5 Thailand
9.3.6 Malaysia
9.3.7 Indonesia
9.3.8 Australia
9.3.9 New Zealand
9.4 Latin America
9.4.1 Brazil
9.4.2 Mexico
9.4.3 Argentina
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.2 United Arab Emirates
9.5.3 South Africa
10. Porter’s Five Analysis - Global Biodiesel Market
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis - Global Biodiesel Market
11.1 Strength
11.2 Weakness
11.3 Opportunity
11.4 Threat
12. Company Analysis
12.1 Archer Daniels Midland Company
12.1.1 Overview
12.1.2 Recent Development
12.1.3 Revenue
12.2 FutureFuel
12.2.1 Overview
12.2.2 Recent Development
12.2.3 Revenue
12.3 Nestle’s
12.3.1 Overview
12.3.2 Recent Development
12.3.3 Revenue
12.4 Renewable Energy Group, Inc.
12.4.1 Overview
12.4.2 Recent Development
12.4.3 Revenue
12.5 Bunge Global SA
12.5.1 Overview
12.5.2 Recent Development
12.5.3 Revenue
12.6 Wilmar
12.6.1 Overview
12.6.2 Recent Development
12.6.3 Revenue
12.7 Shell
12.7.1 Overview
12.7.2 Recent Development
12.7.3 Revenue
List of Figure
Figure-01: Global - Biodiesel Market (Billion US$), 2019 - 2023
Figure-02: Global - Forecast for Biodiesel Market (Billion US$), 2024 - 2030
Figure-03: Application - Fuel Market (Million US$), 2019 - 2023
Figure-04: Application - Forecast for Fuel Market (Million US$), 2024 - 2030
Figure-05: Application - Power Generation Market (Million US$), 2019 - 2023
Figure-06: Application - Forecast for Power Generation Market (Million US$), 2024 - 2030
Figure-07: Application - Others Market (Million US$), 2019 - 2023
Figure-08: Application - Forecast for Others Market (Million US$), 2024 - 2030
Figure-09: Feedstock - Vegetable Oil Market (Million US$), 2019 - 2023
Figure-10: Feedstock - Forecast for Vegetable Oil Market (Million US$), 2024 - 2030
Figure-11: Feedstock - Animal Fats Market (Million US$), 2019 - 2023
Figure-12: Feedstock - Forecast for Animal Fats Market (Million US$), 2024 - 2030
Figure-13: United States - Biodiesel Market (Million US$), 2019 - 2023
Figure-14: United States - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-15: Canada - Biodiesel Market (Million US$), 2019 - 2023
Figure-16: Canada - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-17: France - Biodiesel Market (Million US$), 2019 - 2023
Figure-18: France - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-19: Germany - Biodiesel Market (Million US$), 2019 - 2023
Figure-20: Germany - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-21: Italy - Biodiesel Market (Million US$), 2019 - 2023
Figure-22: Italy - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-23: Spain - Biodiesel Market (Million US$), 2019 - 2023
Figure-24: Spain - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-25: United Kingdom - Biodiesel Market (Million US$), 2019 - 2023
Figure-26: United Kingdom - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-27: Belgium - Biodiesel Market (Million US$), 2019 - 2023
Figure-28: Belgium - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-29: Netherlands - Biodiesel Market (Million US$), 2019 - 2023
Figure-30: Netherlands - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-31: Turkey - Biodiesel Market (Million US$), 2019 - 2023
Figure-32: Turkey - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-33: China - Biodiesel Market (Million US$), 2019 - 2023
Figure-34: China - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-35: Japan - Biodiesel Market (Million US$), 2019 - 2023
Figure-36: Japan - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-37: India - Biodiesel Market (Million US$), 2019 - 2023
Figure-38: India - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-39: South Korea - Biodiesel Market (Million US$), 2019 - 2023
Figure-40: South Korea - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-41: Thailand - Biodiesel Market (Million US$), 2019 - 2023
Figure-42: Thailand - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-43: Malaysia - Biodiesel Market (Million US$), 2019 - 2023
Figure-44: Malaysia - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-45: Indonesia - Biodiesel Market (Million US$), 2019 - 2023
Figure-46: Indonesia - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-47: Australia - Biodiesel Market (Million US$), 2019 - 2023
Figure-48: Australia - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-49: New Zealand - Biodiesel Market (Million US$), 2019 - 2023
Figure-50: New Zealand - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-51: Brazil - Biodiesel Market (Million US$), 2019 - 2023
Figure-52: Brazil - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-53: Mexico - Biodiesel Market (Million US$), 2019 - 2023
Figure-54: Mexico - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-55: Argentina - Biodiesel Market (Million US$), 2019 - 2023
Figure-56: Argentina - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-57: Saudi Arabia - Biodiesel Market (Million US$), 2019 - 2023
Figure-58: Saudi Arabia - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-59: United Arab Emirates - Biodiesel Market (Million US$), 2019 - 2023
Figure-60: United Arab Emirates - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-61: South Africa - Biodiesel Market (Million US$), 2019 - 2023
Figure-62: South Africa - Forecast for Biodiesel Market (Million US$), 2024 - 2030
Figure-63: Archer Daniels Midland Company - Global Revenue (Million US$), 2019 - 2023
Figure-64: Archer Daniels Midland Company - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-65: FutureFuel - Global Revenue (Million US$), 2019 - 2023
Figure-66: FutureFuel - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-67: Nestle’s - Global Revenue (Million US$), 2019 - 2023
Figure-68: Nestle’s - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-69: Renewable Energy Group, Inc. - Global Revenue (Million US$), 2019 - 2023
Figure-70: Renewable Energy Group, Inc. - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-71: Bunge Global SA - Global Revenue (Million US$), 2019 - 2023
Figure-72: Bunge Global SA - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-73: Wilmar - Global Revenue (Million US$), 2019 - 2023
Figure-74: Wilmar - Forecast for Global Revenue (Million US$), 2024 - 2030
Figure-75: Shell - Global Revenue (Million US$), 2019 - 2023
Figure-76: Shell - Forecast for Global Revenue (Million US$), 2024 - 2030
List of Tables
Table-01: Global - Biodiesel Market Share by Application (Percent), 2019 - 2023
Table-02: Global - Forecast for Biodiesel Market Share by Application (Percent), 2024 - 2030
Table-03: Global - Biodiesel Market Share by Feedstock (Percent), 2019 - 2023
Table-04: Global - Forecast for Biodiesel Market Share by Feedstock (Percent), 2024 - 2030
Table-05: Global - Biodiesel Market Share by Countries (Percent), 2019 - 2023
Table-06: Global - Forecast for Biodiesel Market Share by Countries (Percent), 2024 - 2030

Companies Mentioned

  • Archer Daniels Midland Company
  • FutureFuel
  • Nestle’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
 

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