Biodiesel Global Market To Perceive Aggrandizing Growth By 2027; Declares MRFR
Posted: Jun 12, 2018
Renewable energy industry is currently witnessing a significant surge in their demand; this is mainly due to the increasing demand for energy. Favorable government regulations regarding renewable sources of energy and development in technology which has made these renewable sources cost effective are expected to drive the demand in the Biodiesel market. Additionally, Improvements in technology have helped boost Biodiesel performance. Both climate change and the increasing demand for energy is expected to drive the growth in the Biodiesel sector.
Recently, on Oct. 4, the U.S. Environmental Protection Agency signaled that it is contemplating reducing proposed Renewable Fuel Standard volumes, including volumes that were finalized a year ago. Scaling back the RFS endangers the livelihood of the 64,000 American workers who rely on biodiesel and the rural communities where soybeans and biodiesel are produced, not to mention farmers nationwide for whom biodiesel and other renewable fuels present a vital market for their products.
Total U.S. production of biodiesel was approximately 1.9 billion gallons in 2016 with ample feedstock and production capacity to produce more. Another 1 billion gallons of biomass-based diesel was imported in 2016. EPA proposed volumes of 2.1 billion gallons (including imports) of biomass-based diesel for 2019—well below the actual capacity of the biodiesel industry to produce fuels here in the United States. In comments submitted to EPA on the proposed volumes, ASA advocated for a level of at least 2.5 billion gallons for 2019. The subsequent NODA contemplates rolling back biomass-based diesel levels below the already insufficient 2.1 billion gallon level.
Biodiesel Market - Key Players
Biodiesel market in is well established. Several large and small players having international presence adorn the market of Biodiesel. The market is expected to witness fierce competition during the forecast period. Well established players incorporate acquisition, collaboration, partnership, expansion, product launch in order to gain competitive advantage in this market and to maintain their market position. The Key players operating in this market emphasis upon the product innovation and new manufacturing processes which in turn is anticipated to fuel the already intensified competition during the forecast period. Biodiesel market demonstrates high growth prospect which is turn is attracting several new entrants to the market which is apparently anticipated to intensify the market competition.
Profiled in MRFR Analysis some of the leading market players at the forefront of completion in the Biodiesel market primarily include Enerkem among few, INEOS New Planet BioEnergy, Canergy LLC, Abengoa bioenergy, Amyris, and Poet-DSM Advanced Biofuels LLC.
The biodiesel market has been segmented on the basis of application as off grid electricity supply and transportation. On the basis of type the market has been segmented as Methanol, Biohydrogen and Cellulosic ethanol.
Biodiesel Market - Regional Analysis
North America is expected to dominate the biodiesel market mainly due to the favorable government regulations. The integration of biofuels is expected to increase in the North American region providing the market with scope for further growth. Europe and Asia-Pacific are the other major regions for the Biodiesel market due to boost in the manufacturing sector in these regions.
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