The global biodiesel market size was US$ 1,531.6 million in 2021. The global biodiesel market size is forecast to reach US$ 5,430.2 million by 2030, growing at a compound annual growth rate (CAGR) of 15.1% during the forecast period from 2022 to 2030.

Biofuel is analogous to conventional or "fossil" diesel. Transesterification is the process by which these oils are transformed into biodiesel. The Renewable Fuel Standard's requirements for biomass-based diesel and all advanced biofuels are met by biodiesel. The most likely sources of sufficient oil are oil crops, including soybean, palm, and rapeseed. The majority of the biodiesel produced today is made from used vegetable oil, which is sourced from several sources, including industrial food producers like Birdseye, chip shops, and restaurants. Since spills of biodiesel are completely non-toxic and quickly biodegrade, they are much less dangerous than those of fossil fuels.

Factors Influencing Market Growth
The rise in demand for ecologically friendly fuels that decrease greenhouse gas emissions while assuring full combustion drives the global market.

The growing demand for energy and the increasing desire for clean and renewable fuel sources boost the global market growth.

The rising environmental consciousness and consumer awareness about biodiesel drive the global market growth.

The rising technical advancements, such as the emergence of third-generation biofuels developed from algae, which can create a diversified and large quantity of ethanol compared to other feedstocks, are forecast to offer lucrative opportunities for the global market.

Impact Analysis of COVID-19
The COVID-19 pandemic had a minimal impact on the global market. The amount of electricity consumed in the residential sector has increased due to the remote workers and online course participants. As a result of the lockdowns, however, there has been a sharp fall in the demand for power from the commercial and industrial sectors, which has had an adverse effect on the biodiesel industry expansion.

Regional Analysis
The Asia Pacific region garnered a substantial market share in 2021 and is forecast to remain dominant during the forecast period. As a result of the growing population and energy consumption. In addition, the increasing governments initiative to encourage green fuels to decrease pollution, lower reliance on crude oil, and rising domestic consumption due to the growth in blending levels to utilize excess palm oil production. Thus, these factors drive the market growth in the region.

Leading Competitors
The leading prominent companies profiled in the global biodiesel market are:
FutureFuel Chemical Company
Algenol
Bangchak Corporation Public Company Limited
Archer Daniels Midland Company
Bangchak Corporation Public Company Limited
Bunge
Cargill
LanzaTech
Neste
Blue Marble Energy (Acquired)
American Energy Corporation
ACCIONA
XL Renewables, Inc
Green Biologics Ltd
Algenol
Chemtex
Dupont
TMO Renewables
Other Prominent Players

Scope of the Report
The global biodiesel market segmentation focuses on Blend, Production Technology, Feedstock Type, Application, and Region.
Segmentation based on Production Technology
Pyrolysis
Trans-esterification
Others (Dilution, Micro-Emulsification)
Segmentation based on Feedstock Type
Vegetable Oils
o Edible Oils (Rapeseed/Canola, Soybean, Palm)
o Others
Animal Fats
o Poultry
o Tallow
o Lard & White Grease
Others
Segmentation based on Application
Fuel
o Automotive (On-road vehicles, Off-road vehicles)
o Marine
o Agriculture
o Others
Power Generation
Others(Solvents, Diluent, Coatings, Printing Inks, Adhesives)
Segmentation based on Blend
B100
B20
B10
B5
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America

Meta Title: Biodiesel Market Size, Share, Insight, and Forecast 2022 to 2030
Meta Description: Global Biodiesel Market is projected to reach US$ 5,430.2 million by the end of 2030 from US$ 1,531.6 million in 2021, at a CAGR of 15.1%
Meta Keywords: biodiesel market Size, biodiesel market share, biodiesel market trend, biodiesel market Forecast, biodiesel market insight