Analysis projects healthy near-term growth for biodiesel industry

India-based market research company RNCOS announced the availability of a new global analysis of the biodiesel industry March 7. According to RNCOS’s report, titled “Global Biofuel Market Analysis,” global production of biodiesel is expected to grow at a compound annual growth rate of nearly 15.5 percent through 2013.

The report attributes much of this exponential growth rate to supportive government policies in many areas of the world, as well as new production facilities under development in Asia. While the global biodiesel industry is still in its infancy when compared to ethanol production, RNCOS’ study notes it is growing at a rapid and sustainable pace.

The report confirms that Europe remains the world’s largest biodiesel producing region. However, the U.S. industry is swiftly increasing capacity. In fact, the Americas—defined by RNCOS as including the U.S. and Brazil—are named in the report as the world’s second largest biodiesel producing area. According to RNCOS, the report provides a statistical review of both biodiesel and ethanol production, along with cost analysis related to each fuel.

Although Biodiesel Magazine was unable to reach a representative of RNCOS for further information on the study, information released by the company states that the biodiesel industries of several countries are specifically addressed in the report, including those of Australia, Thailand, Japan, India, China, Indonesia, the U.S., Brazil, Canada, Czech Republic, Sweden, Denmark, France, Germany, Italy, Spain, the U.K., Argentina and Malaysia.

A report summary provided by RNCOS also states the analysis contains information regarding government support mechanisms, distribution challenges, and costs analysis designed to assist members of industry in formulating effective strategies to expand their business operations into untapped markets. In addition, the report addresses regional trends, market factors, and technology improvements.