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Biodiesel Market Outlook (2021-2031)

  • kiran11singh90@gmail.com
  • 6282511583
11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Rockville Pike - 20852

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Fact MR

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kiran11singh90@gmail.com

Phone

6282511583

Address

11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Rockville Pike - 20852

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Description

The global biodiesel market reached a valuation of US$ 90.4 Bn in 2020. Demand for biodiesel is slated to rise at a CAGR of 6.9% to reach US$ 187.6 Bn by the end of 2031.



Competitive Landscape



The biodiesel market is extremely competitive, with worldwide firms producing technologically-advanced biodiesel-based products. Due to rising demand, leading biodiesel manufacturers are focusing on strengthening their relationships with major distributors and expanding their existing production capacity.



For instance,




  • In February 2022, SLD Pumps & Power (SLD) announced that it shifted to biodiesel fuel for its nationwide equipment fleet. The shift is expected to displace around 1 million litres of highly polluting mineral diesel usage each year.


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