The biodiesel market is expected to grow from USD 32.87 billion in 2015 to USD 41.18 billion by 2021, at a CAGR of 3.8% from 2016 to 2021. Biodiesel is one of the most important environment-friendly automobile fuels. Biodiesel is produced from fatty oils (edible as well as inedible oils such as jatropha) and methanol or ethanol, using a technology called transesterification.

Download PDF Brochure - https://www.marketsandmarkets.com/Market-Reports/Global-Biodiesel-Market-190.html

Market Dynamics
Drivers

Potential to reduce emissions
Biodegradability of biodiesel
Environment-friendliness and renewability of biodiesel
Tax-incentives
Restraints

Performance concerns
Weaker cold filtration properties
Insufficient availability of all types of feedstocks
Opportunities

OEM support for biodiesel continues to grow
Growing uses of crude glycerin from biodiesel production
Speak To Analyst - https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=190

The vegetable oils segment is estimated to lead the biodiesel market

Vegetable oils obtained from the feedstock, such as soybean, palm, and rapeseed are used to produce biodiesel. Biodiesel obtained from vegetable oils is preferred across various industries, as it contains less saturated fat that makes it easy to process, thus reducing the overall manufacturing cost. Furthermore, the feedstock required to manufacture vegetable oils is more easily available as compared to animal fats and greases.

The fuel application segment is estimated to lead the biodiesel market

Fuel is estimated to be the leading segment of the biodiesel market, followed by power generation. Biodiesel is preferred as a fuel, as it reduces wear and tear of the engine and ensures complete fuel combustion. Additionally, biodiesel offers better fuel economy over fossil fuels.

The rising demand for biodiesel from Europe is expected to be a key factor expected to drive the growth of biodiesel market in the region.

Key Market Players -

The key companies profiled in the biodiesel market research report are Archer Daniels Midland Company (U.S.), Wilmar International Limited (Malaysia), Bunge Limited (U.S.), Neste Corporation (Finland), Renewable Energy Group Inc. (U.S.), Louis Dreyfus Company (Netherlands), Cargill Inc. (U.S.), BIOX Corporation (Canada), Munzer Bioindustrie (Austria), and TerraVia Holdings Inc. (U.S.).