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Biodiesel Market Size

  • Report ID: GMI8262
  • Published Date: Feb 2024
  • Report Format: PDF

Biodiesel Market Size

Biodiesel Market was valued at USD 35.5 billion in 2023 and is predicted to register a CAGR of over 7.2% between 2024 and 2032, due to the confluence of environmental concerns, renewable energy initiatives, and a shift towards sustainable fuel alternatives. This momentum is fostering investment in biodiesel production infrastructure, fostering a robust and dynamic market poised for continued growth in the transition towards more sustainable energy solutions.

 

Many countries in the are shifting their focus toward the use of biofuels and are mapping various strategies. For instance, in the United States, the Sustainable Aviation Challenge sets a goal for the airline industry to use 11 billion litres of sustainable aviation fuel (SAF) by 2030 equivalent to 15% of current jet fuel demand. It will support this government to work on a SAF tax credit linked to GHG intensity.
 

Authors: Ankit Gupta , Utkarsh Mahajan

Frequently Asked Questions (FAQ) :

The market size of biodiesel was reached USD 35.5 billion in 2023 and is estimated to grow at a CAGR of over 7.2% up to 2032, driven by a confluence of environmental concerns, renewable energy initiatives, and a shift towards sustainable fuel alternatives.

The vegetable oil feedstock segment will grow at a CAGR of over 7% through 2032, owing to its abundant and readily available nature.

North America biodiesel market revenue to cross more than USD 26 billion by 2032, driven by the presence of a well-established agricultural sector.

Abellon Clean Energy, Ag Processing, Inc., ALTRET GREENFUELS LIMITED, Anellotech, Archer Daniels Midland Company (ADM), Bunge Ltd., Cargill, Chevron Corporation, Clariant are some of the major industry contenders.

Biodiesel Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 19
  • Tables & Figures: 284
  • Countries covered: 18
  • Pages: 350
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