#Biofuels The #biodiesel #market is projected to reach USD 41.18 billion by 2021, at a CAGR of 3.8% from 2016 to 2021.
The biodiesel market is expected to grow at a CAGR of 3.8% to reach USD 41.18 billion by 2021. Biodiesel is an #environmental friendly, non-toxic, and readily #biodegradable #fuel, which reduces #greenhouse #gas #emissions.
These properties have increased the demand for biodiesel from automotive, power generation, marine, railway, agriculture, and mining industries. Low cold filtration properties and increase in water separation & fuel foaming with the use of biodiesel may act as restraints for the market.
The consumption of vegetable oils to produce biodiesel is projected to witness high growth during the forecast period in biodiesel market. #Soybean, #palm, and #rapeseed are the feedstocks used to manufacture vegetable oils.
These feedstocks are majorly used for the production of biodiesel production, due to their easy availability in various countries. Furthermore, these feedstocks enable easy processing as they contain less saturated fat and thus reduce the overall manufacturing cost of vegetable oils.
Rising use of biodiesel in the fuel and power generation application segments have led to an increased demand for biodiesel, globally. Europe is estimated to be the largest market for biodiesel, followed by North America.
Germany is expected to account for the largest share in Europe till 2021 with Italy is expected to be the fastest-growing market for biodiesel during the forecast period. The U.S. is the largest market for the biodiesel in North America.
Complete report on Biodiesel Marketspread across 167 pages, profiling 10 companies and supported with 127 tables and 50 figures is now available at www.rnrmarketresearch.com/biodiesel-market-by-feedstock-type-vegetable-oils-soybean-rapeseed-palm-animal-fats-lard-white-grease-poultry-tallow-brown-grease-trap-grease-application-fuel-power-generation-and-region-global-f-st-to-2021-market-report.html
Low cold filtration properties and increase in water separation & fuel foaming with the use of biodiesel may act as restraints for the market. However, biodiesel is environment friendly, non-toxic, and readily biodegradable fuel that offers better fuel economy over fossil fuels and ensures complete fuel combustion.
The fuel application segment is estimated to witness the highest growth during the forecast period, due to the increasing demand for environmental-friendly fuel from the transportation industry. The use of biodiesel as a fuel has gained significant importance in recent years, as it is derived from natural sources and ensures complete burning.
Furthermore, biodiesel offers fuel economy over fossil fuels.
Study on Biodiesel, has been validated through primary interviews with various industry experts globally. The break-up profile of primary discussion participants is given here Tier 1 (30%); Tier 2 (43%) and other (27%) companies were contacted for interviews.
The interviews were conducted on Biodiesel with various key people such as C level (21%), M Level (23%) and other (56%) from various key organizations.
The primary interviews were conducted worldwide covering regions such as North America (30%), Europe (18%), Asia-Pacific (41%), and Row (11%).
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