Biodiesel Market Scope
Since the biodiesel generate Null output of carbon in the form of CO2 (Carbon Dioxide) will be the primary driver prevailing the demand for biodiesel. It is an alternative fuel to the traditional fuels or “diesel”. Transesterification is the process used for converting vegetable or animal oil to the biodiesel. The major source of biodiesel products oil based crop yield. Most biodiesel produced at present is produced from waste vegetable oil sourced from restaurants, chip shops, industrial food producers such as Birdseye etc.
According to AMA, the Global Biodiesel market is expected to see growth rate of 6.58% and may see market size of USD62.25 Billion by 2027.
Research Analyst at AMA estimates that United States Manufacturers will contribute to the maximum growth of Global Biodiesel market throughout the predicted period.
Archer Daniels Midland Company (United States), Bunge Limited (United States), Neste Corporation (Finland), TerraVia Holdings (United States), Wilmar International Limited (Singapore), Royal Dutch Shell PLC (Netherlands), Renewable Energy Group Inc. (United States), Cargill (United States), Louis DreyfusBIOX Corporation (Indonesia) and Muenzer Bioindustrie GmbH (Austria) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are Mitsui & Co. (Japan), Solvay SA (Belgium) and Ineos Group (United Kingdom).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
Segmentation Overview
The study have segmented the market of Global Biodiesel market by Type (Rapeseed Oil Based Feedstock, Soybean Oil Based Feedstock, Waste and Residues Based Feedstock and Other), by Application (Industrial Fuels, Transportation Fuels and Chemical Industry) and Region with country level break-up.
On the basis of geography, the market of Biodiesel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
Biodiesel Manufacturers, Biodiesel Distributors and Traders, Environmental Regulatory Associations, Research and Development Organizations, Government Agencies, Biodiesel Upstream Downstream Buyers and Others
In February 2018, Congress passed a retroactive extension of the biodiesel tax incentive for 2017 only. But producers continue to operate in 2018 without a tax credit, which is forcing biodiesel producers nationwide to carry the risk of the uncertainty caused by the lack of the tax credit. For some small biodiesel producers, that can be the difference between keeping the lights on or off.
Vice president of federal affairs for the National Biodiesel Board (NBB), Kurt Kovarik said that, “The National Biodiesel Board has again disappointed that Congress has failed to provide pro-growth tax certainty for a domestic energy industry that has broad, bipartisan support. The lack of urgency by Congress to extend this expired tax credit continues to frustrate the producers, blenders and marketers of biodiesel.” and As a result Kurt Kovarik has advised that they will work to educate members of the economic and environmental benefits of increased use of biodiesel, so that Congress is poised to drive investments in this American energy industry.
Market Trend
- Upsurging Importance of Minimizing Pollution across the Globe leading to Create Minimal Polluting Biodiesel
Market Drivers
- Growing Concerns about the Green House Emission across the Globe
- Increasing Awareness about Limiting the Uses of Non Renewable Energy Sources
Opportunities
- Favorable Government Regulations in Manufacturing Biodiesel Plants
- Zero percent Carbon Emission and Depletion
Restraints
- Lack of Power Generation as compared to Conventional Fossil Fuels
- Comparatively Costlier than Conventional Fossil Fuels
Challenges
- Complex and Cost Consuming Conversion Procedures
- Increasing Labour Cost Across the Globe
Key Target Audience
Biodiesel Manufacturers, Biodiesel Distributors and Traders, Environmental Regulatory Associations, Research and Development Organizations, Government Agencies, Biodiesel Upstream Downstream Buyers and Others