Biodiesel Market: Asia Pacific Expected To Fastest Growing Region Due To Reduction Of Imports Of Fossil Fuels
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Biodiesel produced from the Biodiesel Market is a derivative of vegetable oil extracted by oil seeds, even though waste from animal fats and cooking oil can also be used. It can be used in pure form or blended with petroleum diesel at any concentration in most injection pump diesel engines.
The biodiesel fuel is produced by transesterification of vegetable oil or animal fat feedstock. It has good lubricating properties and cetane ratings compared to low sulfur diesel fuels.
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Engine wear, engine performance, and fuel viscosity are responsible for the growth of the Biodiesel Market
Scope & Regional Forecast of the Biodiesel Market
The Biodiesel Market will have a high growth in biodiesel production in various countries along with increasing application of vegetable oil biodiesel automotive, marine, agriculture, railway, power generation, and mining industries. The rising investment in the expansion of the production capacity of biofuel in economies of Europe like Germany, France, and Italy will boost the market.
The Biodiesel Market has good opportunities in UK, China, and India due to huge number of diesel vehicles and high diesel prices. The growth of algae as newer feed stock sources is expected for biodiesel system.
Biodiesel uses in Argentina are increasing due to domestic demand along with strong exports for the market.
Vegetable oil biodiesel can work in existing engines compared to alternative fuels. The Biodiesel Market in the US can provide a good growth potential for Malaysian biodiesel exports in the coming years.
Segmentations & Key Players Involved in the Biodiesel Market
The Biodiesel Market can be broken down into various segmentations on the basis of –
- Product- Vegetable Oils Source and Animal Fats Source.
- Application- Fuel and Power Generation.
- Region- Europe, North America, Asia, South America, and Africa.
Some of the key players involved in the Biodiesel Market are as follows:
- Diester Industries
- Neste Oil Rotterdam
- Infinita Renovables
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