PUBLISHER: Renub Research | PRODUCT CODE: 1484132
PUBLISHER: Renub Research | PRODUCT CODE: 1484132
Europe Biodiesel Market size is expected to be approximately US$ 17.72 billion by 2032. The CAGR for the Europe biodiesel market from 2024 to 2032 is 5.61%. Renub Research said that it amounted to US$ 10.84 billion in 2023.
Biodiesel is an option fuel like traditional or 'fossil' diesel. It can be made from straight vegetable oil, animal oil/fat, tallow, and waste cooking oil. The method used to transform these oils into biodiesel is known as transesterification. Biodiesel has many environmentally valuable properties. The essential benefit of biodiesel is that it may be described as 'carbon neutral.' Biodiesel is quickly biodegradable and non-toxic, meaning spillages constitute much less threat than fossil diesel spillages. Biodiesel has a better flash factor than fossil diesel and is more secure in crashes. The International Energy Agency states that biofuel demand will expand 38 billion liters over 2023-2028, a nearly 30% growth from the last five-year period. Total biofuel demand will rise 23% to 200 billion liters by 2028. Renewable diesel and ethanol account for two-thirds of this growth, and biodiesel and bio-jet fuel comprise the rest.
Europe Biodiesel Market Trends
Fossil fuels are non-renewable resources that formed millions of years ago. International demand has yet to achieve its prime. Yearly, global energy consumption and fossil fuel use are increasing, too. The world is predicted to run out of fossil fuels in this century. The World Economic Forum said that Europe saw a 'record fall' in fossil fuel use in 2023. Fossil fuel power generation in Europe declined by 19% in 2023. More renewable energy is needed to meet the total demand of our industries and populations. The IEA Bioenergy article reported that the EU-27 supply of biofuels in 2020 was around 16 Million Tonnes of Oil Equivalent (Mtoe), which accounted for 6.3% of the total transport fuel consumption in the EU. The overall EU production of biofuels was 20 billion liters per year, of which 15 billion liters (about 13 Mtoe) were biodiesel and 5 billion liters (about 3 Mtoe) of bioethanol. This is adding to the rise in the Europe biodiesel market.
There is a growing trend in worldwide energy demand due to rapid industrialization and population increase. Expansive fossil fuel utilization is responsible for the emission of greenhouse gases, especially carbon dioxide (CO2), which contributes to global warming and climate change. Hence, suitable efforts are being made to discover the best alternative fuels to lessen environmental deterioration and energy consumption. Renewable resources are adopted, including biofuels (biodiesel, biogas, and bioethanol). This is propelling the boom of the Europe biodiesel market. The European Union resulted in an 8% drop in carbon dioxide (CO2) emissions in the final 12 months, per the Centre for Research on Energy and Clean Air (CREA). The evaluation discovered that more than 1/2 of the decline, about 56%, was due to the speedy expansion of renewable resources.
The authorities' initiatives add to the growth of the Europe biodiesel market. For example, in 2023, the EU Parliament and Council agreed to new Renewable Energy Directive (RED) targets, which include a 14.5% GHG or 29% renewable energy share goal for transport by 2030. The common purpose of the RED is to lessen energy prices and EU dependence on imported fossil fuels. However, Sweden announced its intention to reduce its blending obligation to 6%, down from 7.8% for fuel and 30.5% for biodiesel. The economic tasks additionally propel the Europe biodiesel market. Risk sharing via public-personal partnerships among enterprises, member states, and traders is the best way forward. EC schemes and applications, including NER300, Horizon2020, EIBI, ERA-NET, and BBI, present public co-funding towards the capital costs of industrial-scale showcases of outstanding biofuels and bioenergy.
Germany biodiesel market
Germany could have a substantial share in the European biodiesel market. This is because of its high biodiesel intake. Biofuels International said that 2022 Germany consumed 2.516 million tonnes of biodiesel. The preliminary facts for 2022, published by the Federal Office for Economic Affairs and Export Control (BAFA), confirmed an incorporation rate of 7.2% for biodiesel.
Government projects and policies drive the growth of the German biodiesel enterprise. The country has implemented the Renewables Energy Act. It seeks to help ensure that electricity supply and consumption become carbon-neutral by 2050. The Federal Government has efficiently argued on the European level to ensure that automobiles running solely on e-fuels can continue registering in the European Union after 2035.
Europe Biodiesel Company Analysis
Europe Biodiesel Company News
The Europe biodiesel market comprises Archer Daniels Midland Company, Future Fuel, Neste's, Renewable Energy Group, Inc., Bunge Global SA, Wilmar, and Shell.
In March 2024 - Trafigura agreed with Greenergy, a UK-based fuel supplier and biodiesel producer, to acquire Greenergy's European business from Brookfield Asset Management and Brookfield Business Partners.
In February 2024 - Cepsa and Bio-Oils are constructing the biggest second-generation biofuels factory in southern Europe. The facility will produce 500,000 tonnes of sustainable aviation fuel and renewable diesel annually, doubling the joint venture's current production capacity.
In March 2023 - Cargill is gearing up to launch a Biodiesel Plant in Belgium.
In March 2022 - Repsol is building Spain's first advanced biofuels plant at its Cartagena refinery. It will produce 250,000 tons/year of advanced biofuels such as biodiesel, bio jet, naphtha, and propane, reducing CO2 emissions by 900,000 tons/year. The total investment is €200 million.
In February 2022 - Chevron Corporation announced its acquisition of Renewable Energy Group, Inc. in an all-cash dealing priced at $3.15 billion.
Application - Market breakup in 3 viewpoints:
Feedstock - Market breakup in 2 viewpoints:
Countries - Market breakup in 9 viewpoints:
All the Key players have been covered from 3 Viewpoints:
Company Analysis: