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Rising Demand for Carbon Free Fuels to Drive Renewable Diesel Market

Date: 30th Aug 2020 | Category: Energy & Utilities

The global renewable diesel capacity is expected to reach 14.63 million tons in 2024, growing at a CAGR of 21.33%, during 2020-2024. While, the global renewable diesel demand is projected to reach 12.88 million tons, increasing at a CAGR of 15.93%, during 2020-2024. The factors such as growing production of motor vehicles, increase in biofuel demand, rise in carbon dioxide emission, availability of used cooking oils and emission control regulations by government would drive the growth of the market. However, the growth of the market would be challenged by insufficient availability of feedstock and problems associated with the quality control of renewable diesel. A few notable trends may include increasing R&D spending in energy sector, upsurge in energy consumption and rising usage of biomass-based diesel. 

Renewable diesel market holds a very lucrative future as the demand for more sustainable fuel options continues to grow speedily. Rising concerns regarding the green house gas emissions is resulting in the implementation of several environmental regulations across the world. Such regulations are leading to the introduction of various programmes, supporting the consumption of renewable diesel, due to the presence of a wide range of benefits, which is expected to contribute to the huge demand for renewable diesel globally. 

The fastest growing regional market is Europe, due to the launch of Renewable Diesel Directive (RED) II, which has supported the consumption of sustainable fuel options to a great extent, and thereby resulted in the increased demand for renewable diesel. While, the growing number of mandates regarding emission control in both automotive as well as aviation industries are contributing to the rising demand for renewable diesel in Americas and Asia. 

Scope of the report:

The report provides a comprehensive analysis of the global renewable diesel market.

The major regional markets (Europe, Americas and Asia) have been analyzed. 

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

The competitive landscape of the market, along with the company profiles of leading players (Total S.A., Valero Energy, Eni, Neste, HollyFrontier and Renewable Energy Group) are also presented in detail.

Key Target Audience:

Renewable Diesel Manufactures 

Raw Material Suppliers

Potential Audience (Automotive and Aviation Industries)

Investment Banks

Government Bodies & Regulating Authorities