Report: Global biodiesel market to surpass $41 billion by 2021
Dublin, Ireland-based Research and Markets is offering a new 168-page report, “Biodiesel Market—Global Forecast to 2021,” in which the analysts find that the global biodiesel market is projected to surpass $41 billion by 2021 at a compound annual growth rate (CAGR) of 3.8 percent from 2016-’21.
“Rising use of biodiesel in the fuel and power generation application segments have led to an increased demand for biodiesel, globally,” states the report summary. “Europe is estimated to be the largest market for biodiesel, followed by North America. Germany is expected to account for the largest share in Europe [until] 2021 [while] Italy is expected to be the fastest-growing market for biodiesel during the forecast period.”
The report notes that companies are investing in expansions of production capacities to increase market share and supply increasing demand for biodiesel. Companies mentioned in the report include Archer Daniels Midland Co., Biox Corp., Bunge Ltd., Cargill Inc., Louis Dreyfus Co., Münzer Bioindustrie GmbH, Neste Corp., Renewable Energy Group Inc., Terravia Holdings Inc. and Wilmar International Ltd.
The purchase price for the report begins at $5,650.