Biodiesel Procurement: Insights from the Comprehensive Intelligence Report
The biodiesel market is anticipated to grow at a CAGR of 11.1% from 2024 to 2030. The market size was estimated to be around USD 36.34 billion in 2023. In 2023, Europe dominated the market with a total share of 46.55% followed by North America. This is because the region is motivated by incentives, policies and programs, and different trade benefits to reduce carbon footprint and adopt sustainable or bio-based fuels. Biodiesel can be blended and utilized in different concentrations. The most common blends are B5, B20, and B100. B5 blends contain 5% biodiesel, while B20 blends contain biodiesel between 6 and 20%, and B100 blends are pure biodiesel that is rarely used for transportation purposes. B20 blends must fulfill the quality guidelines outlined in ASTM D7467 as these are mostly used in automotive engines without many alterations. As per U.S. EPA 2024 reports, most of the vehicles in the country built after 2000 are allowed to use gasoline-ethanol blends which contain 1...