Technavio has been monitoring the biodiesel market and it is poised to grow by USD 7.87 billion during 2021-2025, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries; however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the biodiesel market.
Frequently Asked Questions:
- Based on segmentation by feedstock type, which is the leading segment in the market?
Vegetable oil is the leading segment in the market. - At what rate is the market projected to grow?
The market is projected to accelerate at a CAGR of almost 5%. - Who are the top players in the market?
ALTEN Group, Archer Daniels Midland Co., Argent Energy UK Limited, BIOX Corp., Bunge Ltd., Cargill Inc., Louis Dreyfus Co. BV, RB FUELS, Renewable Energy Group Inc., and Wilmar International Ltd. are the top players in the market. - What are the key market drivers and challenges?
The market is driven by the increasing demand for biofuel. However, the high operating costs of biodiesel will impede the market growth. - How big is the APAC market?
51% of the market’s growth will originate from APAC during the forecast period.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. ALTEN Group, Archer Daniels Midland Co., Argent Energy UK Limited, BIOX Corp., Bunge Ltd., Cargill Inc., Louis Dreyfus Co. BV, RB FUELS, Renewable Energy Group Inc., and Wilmar International Ltd. are some of the major market participants.
Factors such as the increasing demand for biofuel, the growing demand for algae for the production of biodiesel, and the favorable government policies will offer immense growth opportunities. The high operating costs of biodiesel is likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this biodiesel market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
READ the latest news shaping the biofuels market at Biofuels Central
Technavio’s custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
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Biodiesel Market to grow by USD 7.87 billion | Key Drivers, Trends, and Market Forecasts | 17000+ Technavio Research Reports, May 17, 2021
