Biodiesel market is analysed considering industry experts, to help produce maximum returns-on-investment as it provides clarity required to make informed business decisions. This research will help both established and new entrants to identify and analyse the market need, market size and competition. It explains supply and demand situation, competitive scenario, challenges to market growth, market opportunities and threats faced by the key vendors. Report also contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. Industry experts project Biodiesel market to grow at a CAGR of 4.57% during the period 2017-2021.
Biodiesel is an alternative fuel for automotive engines, which is produced by the chemical reaction of a raw material, such as vegetable oil or animal fat, with an alcohol such as methanol or ethanol. Biodiesel is a better alternative for the environment as it is produced from renewable resources, and it releases low emissions compared with normal diesel. As it is produced domestically from natural resources, its use decreases the dependency on imported fuel, and it also contributes to a country’s economy.
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Biodiesel Market Trend, Challenge and Driver: –
Biodiesel Market trend: – The latest trend gaining momentum in the market is Biofuels from spent bleaching earth. In recent years, the use biodiesel is increasing due to its advantages like cost benefits, renewable, clean, and reduced level of pollution. However, on the other hand, the market growth is hampered by its cost of production. To overcome this, manufacturers are trying to adopt strategies such as the use of an efficient catalyst, cheap raw materials, and advanced technologies
Biodiesel Market Challenge: – one of the major factors hindering the growth of this market is High operating costs of biodiesel. Biodiesel is an alternative fuel for automotive engines that are produced by the chemical reaction of raw material, such as vegetable oil or animal fat, with an alcohol such as methanol or ethanol. The chemical reaction is known as transesterification, where short-chain alcohols are esterified to biodiesels. This process involves various production costs; the total cost ranges from $110 to $120 per barrel.
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Biodiesel Market Driver: – One of the major drivers for this market is Increasing demand for biofuels. The global biofuels market is expected to grow at a CAGR of nearly 6% during the forecast period, which will boost the growth of the global biodiesel market. In 2016, the use of biofuels was increased as they reduce carbon emissions and the dependency on fossil fuels. Moreover, their production requires feedstock, which is generally renewable in nature. The use of biofuel is high in agriculture-based economies such as India, China, and Brazil because of the vast area available for feedstock production.
Biodiesel market potential is analysed for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, demand and present scenarios in Biodiesel industry. Further the Biodiesel market report focuses on global major leading industry players with information. Key vendors operating in Biodiesel market space are Archer Daniels Midland, BIOX, Bunge, Cargill, Wilmar International and many more.
Geographic Segmentation: – North America, South America, APAC, Europe, ROW
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In short, the report provides readers the critical perspectives to be able to evaluate the world market for Biodiesel. The report is designed for companies and individuals who want to gain a comprehensive perspective on the Biodiesel market. The report makes it easy to compare across different countries and product groups to be able to find new market opportunities and make more profitable business decisions.SOURCE satPRnews https://www.satprnews.com/