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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 3.5%
In Europe, favourable government policies like European Green Deal introduced in December 2019 are positively influencing the market for biodiesel. This policy aims to increase greenhouse gas savings (GHG) from biofuels from 40% to 55% making Europe climate neutral by 2050, along with the measures aimed at promoting the production of rapeseed oil and sunflower oil.
However, the European market for biodiesel witnessed a restrained growth during the historical period with limitations in the supply of soybean, which is a major seed used in the production of biofuel. The limited supply can be associated with factors like the advent of COVID-19 pandemic, which led to disruptions in supply chain and hampered imports and exports. Furthermore, Argentina is considered as one of the major suppliers of soybean in Europe but due to changes in production and consumption patterns of soybean, the market witnessed a decline.
Industry Definition and Segmentation
Biodiesel is a clean burning fuel produced via transesterification of recycled cooking oils and animal fats. As compared to fossil fuel, biodiesels are non-toxic, carbon-neutral, and are thus, environment friendly.
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On the basis of feedstock, the market can be segmented into:
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:
The regional markets for the product include:
- United Kingdom
The European market for biodiesels is being driven by the implementation of stringent policies aimed at promoting the adoption of sustainable living amidst the rising concerns regarding environment degradation. Traditional fuel combustion is considered to have a negative impact on the environment, as combustion releases toxins, which leads to problems like air pollution and health issues such as bronchitis and asthma. Therefore, policies like European Green Deal, Renewable Energy Directive (REDII), and Paris Agreement, among others aimed at increasing the use of biodiesel, which is a clean burning fuel, are collectively providing impetus to 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, among others. 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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