Europe Biodiesel Market To Be Driven By Rising Environmental Concerns In The Forecast Period Of 2023-2028
The new report by Expert Market Research titled, ‘Europe Biodiesel Market Size, Share, Analysis, Trends, Growth, Price, Report and Forecast 2023-2028’, gives an in-depth analysis of the Europe biodiesel market, assessing the market based on its segments like feedstock, type, technology, applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
Europe Biodiesel Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 3.5%
The biodiesel market in Europe is primarily driven by growing environmental concerns. Leading European countries such as the United Kingdom, Spain, France, and Germany, among others, are constantly developing and investing in environment friendly, biodegradable, and sustainable energy sources. Traditional fuel burning has a negative impact on the environment because it releases toxins into the air, causing pollution and health issues such as bronchitis and asthma.
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As a result, measures like the Renewable Energy Directive (RED II), which aims to increase biofuel uptake in several sectors, including transportation and aviation, are favourably impacting the regional market growth. Furthermore, as part of the European Green Deal, the European Commission has been pushing the development of sustainable aviation fuels in order to meet the Paris Agreement’s climate change targets for the aviation industry’s carbon emissions. As a result, these factors are boosting market expansion.
Europe Biodiesel Industry Definition and Major Segments
Transesterification of recycled cooking oils and animal fats produces biodiesel, a clean-burning fuel. Biodiesels are non-toxic, carbon-neutral, and environment friendly as compared to fossil fuels.
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On the basis of feedstock, the market can be segmented into:
• Vegetable Oil
• Animal Oil
Based on type, the market can be divided into:
The market, based on technology, can be categorised into:
• Hydro Heating
• Conventional Alcohol Transesterification
The major applications of biodiesel in Europe include:
• Power Generation
The EMR report looks into the regional markets of biodiesel in Europe like:
• The United Kingdom
Europe Biodiesel Market Trends
The implementation of policies like the European Green Deal in December 2019 has had a huge impact on the European biodiesel sector, with the goal of boosting greenhouse gas savings (GHG) from biofuels from 40% to 55% by 2050, making Europe’s climate neutral. The COVID-19 pandemic, on the other hand, had a detrimental influence on the biodiesel market in Europe due to travel and international trade limitations.
Furthermore, deforestation has been a major impediment to the production of palm oil for biofuel, resulting in supply constraints and international exports of the product. Furthermore, Argentina is regarded as one of Europe’s key soybean exporters, although market expansion for soy-derived biodiesel has been hampered due to changes in soybean production and consumption patterns.
The French legislature’s steps to limit soy-derived biodiesel to minimise protein import dependency, steer away from GMO and unsustainable crops, and increase the use of rapeseed and sunflower oil as key biofuel feedstocks are expected to boost the market growth.
Key Market Players
The major players in the market are Novozymes A/S, Louis Dreyfus Company B.V., Envien Group, Gbf German Biofuels Gmbh, and BASF SE.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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