Increasing
environmental concerns and the need for energy independence have led
to the growth of the global biodiesel market. Biodiesel is derivative
of the vegetable oils extracted by oil seeds, although waste from
animal fats and cooking oil can also be used. The oil is formed by
combining methanol or ethanol with fatty acid molecules. Chemically,
biodiesel is a mono alkyl ester. Biodiesel can be used in pure form
or blended with petroleum diesel at any concentration in most
injection pump diesel engine. Biodiesel is commonly produced by the
transesterification of the vegetable oil or animal fat feedstock.
Biodiesel has excellent lubricating properties and cetane ratings
compared to low sulfur diesel fuels.
Global biodiesel
market is segmented on the basis of feedstock, application and
geography. Railway, aircraft, heating oil, cleaning and generators
are division on the basis of application. On the basis of feedstock,
global biodiesel market is divided into animal fat, waste vegetable
oil, algae, Jatropha and others. North America, Asia Pacific, Europe
and Rest of the world are classification on the basis of geography
for global biodiesel market. Across the globe, several countries are
involved in the growing production and usage of biodiesel as a
substitute energy source to oil and fossil fuel. Governments have
implemented laws and policies as incentives to reduce oil dependency
consequently increasing the usage of renewable energies. Engine wear,
engine performance and fuel viscosity are important factors in the
global biodiesel market. Variations in biodiesel energy density are
more dependent on the feedstock used than the production process.
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The biodiesel market
provides huge opportunities in countries such as China, U.K. and
India because of huge number of diesel vehicles and high diesel
prices. The global biodiesel market is anticipated to face a pattern
shift with the growing switch from existing feedstock efficiency. The
growth of algae as newer feedstock sources is expected for biodiesel
in the upcoming years. Transportation fuels still make up the major
share of the biodiesel market. The European Union is the greatest
producer of biodiesel with Germany and France being the top
producers.
The global biodiesel
market is in a period of transitional and rapid growth creating
opportunity in upcoming years. The biodiesel markets in Europe and
the United States have reached remarkable biodiesel production
capacity levels but remain restrained by feedstock availability. In
India, Brazil and China, key government policies are creating new
opportunities for feedstock development, biodiesel production,
feedstock development and export. Governments continue to actively
support the development of alternative, sustainable, lower-cost
feedstock such as jatropha, algae, castor, vegetable oil, tallow and
other sustainable feedstock. Biodiesel industries of Argentina are
booming as a result of domestic demand along with strong exports for
global biodiesel market.
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Some of the
advantages of biodiesel over other alternative fuels are the
infrastructure of the petroleum economy and ability to work in
existing engines among others. Some of the restraint in global
biodiesel market is availability of raw material and sudden drop in
oil prices. US market is expected to provide significant growth
potential for Malaysian biodiesel exports in upcoming years.
Some of the global
players in global biodiesel market are Green Earth Fuels of Houston,
LLC, ACCIONA Energy, American Energy Producer, China Biodiesel
International Holding, Crimson Renewable Energy, Deerfield Energy,
Imperium Renewables, Delta American Fuel and Western Dubuque
Biodiesel among others.
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