Europe Biodiesel Market to Grow at a CAGR of 3.5% During 2024-2032, Driven by Favourable Governmental Policies Mandating the Adoption of Biodiesel for Fuel and Power Generation

The growth in the European biodiesel market can primarily be attributed to the adoption of government-mandated policies to tackle the problem of climate change and promote a sustainable future. Policies like Renewable Energy Directive (REDII), European Green Deal, and Paris Agreement, among others, are pushing the growth of the market in the region. Biodiesel has significantly contributed to carbon emission savings in the transportation sector, including aviation, heavy-duty vehicles, and maritime transport. In addition to this, the shift towards B10 fuel type from B7 is likely to be met through hydrotreated vegetable oil (HVO), which is drop-in fuel and does not impact diesel specifications. The global rise in crude oil prices, rise in air pollution levels, and global warming are thus some of the factors playing an essential role in adopting biodiesel in Europe and thus invigorating the market growth. In line with this, measures taken by regional governments such as that of the UK, France, and Germany, to name a few, in mandating the adoption of biodiesel are also positively shaping the market's growth.

In November 2021, Advanced Biofuel Solutions Ltd. (ABSL), a developer and producer of advanced biofuels, recently a Joint Development Agreement with Greenergy. The agreement aims at developing, constructing, and operating up to five municipal waste-based biofuel plants in the UK. Utilising ABSL’s proven and patented RadGas technology, the first plant is situated at Ellesmere Port near Liverpool. The plant is designed for commercial production and is likely to commence production by 2025 to convert 1,33,000 tonnes of municipal waste annually into biomethane for gas vehicles or biohydrogen for hydrogen vehicles. Subsequent plants are planned over the following years. Such developments by leading market players are furthering the growth of the market. The market is further expected to propel by the expansion strategies employed by leading market players such as BASF SE (ETR: BAS).

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Market Analysis by Feedstock, Type, Technology, Application, and Region:

• The market can be divided into vegetable oil and animal oil based on feedstock, among others. 

• Based on type, the market can be classified into B100, B20, B5, and B2, among others. 

• The market, based on technology, can be divided into pyrolysis, hydro heating, and conventional alcohol transesterification, among others. 

• Based on application, the prominent market segmentations include fuel and power generation.

• The significant regions for biodiesel in Europe include the United Kingdom, Germany, France, and Italy, among others.

Key Findings of the Report:

• The market growth can be associated with the implementation of favourable government policies by regional governments and the European Union to mandate the adoption of biodiesel for sustainable development. 

• Spike in crude oil prices worldwide is a significant factor that positively influences the adoption of biodiesel in fuel and power generation applications. 

• The prevalence of health disorders like bronchitis and asthma caused to air pollution by fuel combustion is boosting the market's growth.

• Rising production of rapeseed oil and sunflower oil to reduce dependency on imports has also been driving the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the Europe biodiesel industry for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) markets for feedstocks, types, technologies, applications, and major regions.

• The market report analyses the trade data by covering the major exporting and importing countries. 

• The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global ketone market are Novozymes A/S, Louis Dreyfus Company B.V., Envien Group, Gulf German Biofuels Gmbh, and BASF SE, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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