DUBLIN--(BUSINESS WIRE)--The "Europe Biodiesel Market Report by Application (Fuel, Power Generation, Others), Feedstock (Vegetable Oil, Animal Fats), Country and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
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%. The publisher said that it amounted to US$ 10.84 billion in 2023.
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.
Increase in need for eco-friendly fuels adds to the growth 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.
Supportive government initiatives drive the Europe biodiesel industry
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
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 News
- 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.
Company Analysis: Overview, Recent Developments, Revenue Analysis
- Archer Daniels Midland Company
- Future Fuel
- Neste's
- Renewable Energy Group, Inc.
- Bunge Global SA
- Wilmar
- Shell
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $10.84 Billion |
| Forecasted Market Value (USD) by 2032 | $17.72 Billion |
| Compound Annual Growth Rate | 5.6% |
| Regions Covered | Europe |
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Europe Biodiesel Market
6. Market Share - Europe Biodiesel Market
6.1 Application
6.2 Feedstock
6.3 Country
7. Application - Europe Biodiesel Market
7.1 Fuel
7.2 Power Generation
7.3 Others
8. Feedstock - Europe Biodiesel Market
8.1 Vegetable Oil
8.2 Animal Fats
9. Country - Europe Biodiesel Market
9.1 France
9.2 Germany
9.3 Italy
9.4 Spain
9.5 United Kingdom
9.6 Belgium
9.7 Netherlands
9.8 Turkey
9.9 Rest of Europe
10. Porter's Five Analysis - Europe Biodiesel Market
10.1 Bargaining Power of Buyers
10.2 Bargaining Power of Suppliers
10.3 Degree of Rivalry
10.4 Threat of New Entrants
10.5 Threat of Substitutes
11. SWOT Analysis - Europe Biodiesel Market
11.1 Strength
11.2 Weakness
11.3 Opportunity
11.4 Threat
For more information about this report visit https://www.researchandmarkets.com/r/nglstj
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