Increasing Awareness about Sustainability Fuels the Biodiesel Market

Posted in Chemicals by Adolf on Mar 27,2023 2219

Biodiesel is a type of fuel made from bio-based resources such as vegetable oil and animal fat. It is renewable in nature with a lesser carbon footprint. It can be used in existing diesel engines without modification. It is produced via transesterification whereby glycerin is separated from animal fat or vegetable oil, leaving behind methyl esters and glycerin. Its major application areas are fuel and power generation. Recycled restaurant grease, fresh and used vegetable oils, and animal fats can all be utilized to make biodiesel.

Lesser greenhouse gas emissions associated with biodiesel coupled with its biodegradable nature and the growing need to replace fossil fuel with renewable fuel are projected to drive the demand of biodiesel for the forecast period. Moreover, high compatibility of biodiesel with the existing diesel engines is another factor fuelling demand growth for biodiesel during the forecast period. Increasing population and the subsequent growth in the number of vehicles and other industries using biodiesel is also expected to support demand rise for biodiesel.

Global Biodiesel Market is anticipated to witness robust growth in the forecast period, 2024-2028 due to the increasing demand of the alternative fuels which reduced greenhouse gas emissions. In 2021 Asia Pacific region produced around 17.5 billion metric tons of carbon dioxide emissions.

The rising demand for environmentally friendly fuels that make sure complete combustion and can reduce Greenhouse Gas (GHG) emissions is a key factor driving the market. The high compatibility of biodiesel with the current diesel engines is also driving the demand. The rising population and the consequent growth in the number of vehicles and other industries using biodiesel are also anticipated to boost the demand for biodiesel.

Environmental Issues and The Depletion of Traditional Energy Reserves -
Biodiesel is non-toxic, easy to use, and biodegradable. It is also free of all aromatics and sulfur compounds. It works with most diesel engines and lowers harmful carbon-based emissions while producing fewer greenhouse gases and harmful emissions. Because of the growing concern over greenhouse gas emissions caused by using fossil fuels, the biodiesel industry is expanding.

Biodiesel can cut carbon emissions by up to 50% and has a lower cancer-causing and poisonous aromatic carbon percentage than petroleum-based diesel. Waste Cooking oil is being found as a feedstock for biodiesel production, it has become an economic as well as environmental strategy of many nations to reduce the carbon emissions. All these factors are propelling the growth of the overall market.

Fossil fuels today provide most of our energy demands. These energy sources are not replenishable and exhaust incredibly quickly. However, because biodiesel is a renewable fuel, it can be utilized in place of traditional energy sources. In response to public demand to cut emissions and replace fossil fuels due to environmental concerns, the largest-ever spectrum of biofuels, including ethanol, biodiesel, bio-methanol, and other green fuels, has been produced. Because of the expanding population and rising demand for cars, conventional fuels are in greater demand. Governments are limiting the use of traditional power and have established limitations for producing dangerous gases, so there are plenty of chances ahead.

Global Biodiesel Market is segmented based on Feedstock, Blend, Production Technology and Application. Based on Feedstock, the market is divided into Rapeseed Sunflower, Soybean, Corn, Palm and Others. Based on Blend, the market is fragmented into B100, B20, B10 and B5. Based on Production Technology, the market is fragmented into Pyrolysis, Trans-esterification and Others. Based on Application, the market is divided into Fuel, Power Generation and Others.

FutureFuel Chemical Company, Algenol LLC, Bangchak Corporation Public Company Limited, Archer Daniels Midland Company, Cargillables, Inc., Green Biologics Ltd., Chemtex Inc, DuPont de Nemours, Inc., and TMO Renewables Ltd are some of the key players operating in the market.

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