Dublin, March 20, 2023 (GLOBE NEWSWIRE) -- The "Biodiesel Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Feedstock (Rapeseed/Canola, Sunflower, Soybean, Corn, Palm, Others), By Blend, By Production Technology, By Application, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
Global Biodiesel Market is anticipated to witness robust growth in the forecast period, 2024-2028 due to the increasing demand of the alternative fuels which reduced greenhouse gas emissions. In 2021 Asia Pacific region produced around 17.5 billion metric tons of carbon dioxide emissions.
A renewable, clean-burning alternative to diesel, biodiesel can be used in existing diesel engines without the need of any changes. It comprises an expanding range of recycled cooking oil, animal fats, and agricultural feedstock. The market is expected to increase due to the rising demand for biodiesel to replace conventional fossil fuels in power generation and automotive applications. Recycled restaurant grease, fresh and used vegetable oils, and animal fats can all be utilized to make biodiesel.
The rising demand for environmentally friendly fuels that make sure complete combustion and can reduce Greenhouse Gas (GHG) emissions is a key factor driving the market. The high compatibility of biodiesel with the current diesel engines is also driving the demand. The rising population and the consequent growth in the number of vehicles and other industries using biodiesel are also anticipated to boost the demand for biodiesel.
Increasing Awareness about Sustainability
Biodiesel is non-toxic, easy to use, and biodegradable. It is also free of all aromatics and sulfur compounds. It works with most diesel engines and lowers harmful carbon-based emissions while producing fewer greenhouse gases and harmful emissions. Because of the growing concern over greenhouse gas emissions caused by using fossil fuels, the biodiesel industry is expanding.
Biodiesel can cut carbon emissions by up to 50% and has a lower cancer-causing and poisonous aromatic carbon percentage than petroleum-based diesel. Waste Cooking oil is being found as a feedstock for biodiesel production, it has become an economic as well as environmental strategy of many nations to reduce the carbon emissions. All these factors are propelling the growth of the overall market.
Environmental Issues and The Depletion of Traditional Energy Reserves
Fossil fuels today provide most of our energy demands. These energy sources are not replenishable and exhaust incredibly quickly. However, because biodiesel is a renewable fuel, it can be utilized in place of traditional energy sources. In response to public demand to cut emissions and replace fossil fuels due to environmental concerns, the largest-ever spectrum of biofuels, including ethanol, biodiesel, bio-methanol, and other green fuels, has been produced.
Because of the expanding population and rising demand for cars, conventional fuels are in greater demand. Governments are limiting the use of traditional power and have established limitations for producing dangerous gases, so there are plenty of chances ahead.
Companies Mentioned
- FutureFuel Chemical Company
- Algenol LLC
- Bangchak Corporation Public Company Limited
- Archer Daniels Midland Company
- Cargillables Inc.
- Green Biologics Ltd.
- Chemtex Inc
- DuPont de Nemours, Inc.
- TMO Renewables Ltd
Report Scope:
In this report, Global Biodiesel Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Biodiesel Market, By Feedstock:
- Rapeseed
- Sunflower
- Soybean
- Corn
- Palm
- Others
Biodiesel Market, By Blend:
- B100
- B20
- B10
- B5
Biodiesel Market, By Production Technology:
- Pyrolysis
- Trans-esterification
- Others
Biodiesel Market, By Application:
- Fuel
- Power Generation
- Others
Biodiesel Market, By Region:
- Europe
- France
- Germany
- United Kingdom
- Russia
- Sweden
- Denmark
- Switzerland
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Middle East and Africa
- Saudi Arabia
- UAE
- Qatar
- South America
- Brazil
- Argentina
- Colombia
For more information about this report visit https://www.researchandmarkets.com/r/m4rrq9
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