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Green Diesel Market Analysis:
Green Diesel Market is projected to grow USD 70.33 Billion by 2030, registering a CAGR of 12.56 % during the forecast period (2023 – 2030).
Market Research Future Insights
According to MRFR analysis, the Green Diesel Market is expected to register a CAGR of 12.56% from 2023 to 2030 and hold a value of over USD 70.33 Billion by 2030.
It is a type of diesel fuel produced from renewable sources rather than traditional fossil fuels, such as crude oil.
Green diesel is considered a more environmentally friendly alternative to conventional diesel fuel because it emits fewer greenhouse gases and pollutants when burned.
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Covid-19 Impact on Green Diesel Market
Supply Chain Disruptions: The green diesel market, like other industries, faced disruptions in supply chains due to lockdowns, restrictions, and reduced workforce availability. This could have affected the production and distribution of green diesel.
Supportive Policies: Many governments around the world continued to implement or even strengthen policies that promote the use of renewable fuels. These policies, such as renewable fuel mandates and tax incentives, have provided a favorable regulatory environment for the green diesel market to grow.
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Regional Analysis
North America has been a significant market for green diesel due to its stringent environmental regulations and increasing focus on reducing carbon emissions.
The United States and Canada have seen the establishment of several green diesel production facilities, often using feedstock like soybean oil, used cooking oil, and animal fats.
Incentives, such as Renewable Fuel Standards (RFS) and Low Carbon Fuel Standards (LCFS), have driven the demand for green diesel in this region.
The Asia-Pacific region is witnessing growing interest in green diesel, driven by concerns about air quality and energy security.
Countries like Singapore have become key hubs for green diesel production and export due to their strategic location and supportive policies.
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In India and China, adoption is gradually increasing, with a focus on using waste cooking oil and non-edible feedstocks for production.
Market Segmentation
Feedstock – Vegetable Oil, Animal or Fish Fats, Agricultural Residue and Other Biomass.
Technology – Hydro-processing, Catalytic Upgrading, Pyrolysis, and Biomass to Liquid (BTL) Thermochemical Process (Gasification).
Type – Pure Form, and Blended Form.
Application – Fuel, Power Generation, Others.
Region – North America, Europe, Asia-Pacific, Middle East & Africa and South America.
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Key Players
Neste Oyj (Finland), NX100 Green Diesel & Lubricants (India), Chevron Corporation (US), Valero Energy Corporation (US), Gevo, Inc. (US), Phillips 66 (US), Marathon Petroleum Corporation (US), Aemetis, Inc. (US), Global Clean Energy Holdings, Inc. (US), Shell Plc (UK), PBF Energy Inc. (US), Honeywell International Inc. (US), Eni (Italy).
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and about what action to take based on these aspects.
