Worldwide Biodiesel Market Expected To Grow At A CAGR Of 8.5% Over The Period From 2016 To 2020

Date: 2016-09-18

The worldwide Biodiesel market expected to grow at a CAGR of 8.5% over the period from 2016 to 2020. Global production of biodiesel, an alternative to diesel fuel based on oil extracted from plants, reached over 22 billion liters in 2011. Production is supported by governments worldwide, through investment in projects and technologies, subsidies and mandatory blending policies.

At present, feedstock supply falls short of meeting the required demand, creating a major bottleneck for the industry and driving up the price of biodiesel. The prices of current feedstocks, mainly soybean and canola oil, have been dramatically increasing over the past 3 years, reaching prices of over $1,200 per ton, or an equivalent price of $150 per barrel. The economics of biodiesel is largely driven by the economics of the feedstock constituting approximately 80% of production costs.

During the past decade, biodiesel has attracted considerable attention as a non-toxic fuel because of its environmental benefits and because it is made from sources such as vegetable oil and animal fat. However, still it hasn’t been able to garner the market to its full potential. The growth of the Global Biodiesel market is primarily dependent on the availability, quality, and yield of feedstock because the source material accounts for more than 80 percent of the cost of biodiesel production.

According to survey, the region of Biodiesel market share as following:
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Joanna | Executive – International Business and partner Relations
E-mail: | Tel: 1-510-400-8520

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