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Global Biodiesel Market Analysis and Forecasts to 2020
Global Biodiesel Market Analysis and Forecasts to 2020
Global Biodiesel Market Expected to Produce 45,291 million liters by 2020
Hyderabad,
AP,
India
(prbd.net)
27/03/2010
"Global Biodiesel Market Analysis and Forecasts to 2020"
Production increased from 959 million liters in 2001 to 15,760 million liters in 2009, at a CAGR of 41.9%. Supported by governments to increase energy independence and meet the rising energy demand the biodiesel market is expected to produce 45,291 million liters of biodiesel in 2020, representing a CAGR of 10.1% during 2009 to 2020.
Europe is the leading biodiesel market with a production share of 49.8% followed by the Americas with a production share of 32.8% and Asia Pacific with a share of 4.4% in 2009. European share in the biodiesel production has been declining since 2001 while the share of Americas and Asia Pacific increased. The top five biodiesel producers in the world are the Germany, The US, France, Argentina, and Brazil. All of these countries together produce 68.4% of the world’s total biodiesel. Australia is the largest producer of biodiesel in Asia Pacific followed by China and India.
The US is the second largest producer of biodiesel in the world, producing 17.7% of the world’s biodiesel in 2009. The biodiesel market in the US is expected to reach 2,822 million liters in 2010 and 6,453 million liters in 2020. The US Government has been promoting the production and use of biodiesel through various incentives and policy measures. The Renewable Fuel Standard 2 (RFS) program has been formulated to meet the requirements of the Energy Independence and Security Act of 2007 (EISA). The revised RFS requires the use of 11.1 billion gallons of renewable fuels in 2009 which will continue to increase thereafter to reach 36 billion gallons by 2022. According to RFS 2, biodiesel is categorized in the biomass based diesel category and minimum 1 billion gallons is to be produced by 2012 which is over 50% more than the present levels.
The German biodiesel market is facing a bleak outlook due to the impostion of taxes which have made biofuels too expensive for its consumers. Though the country is the largest producer of biodiesel in Europe, the future for the market looks weak. This is mainly due to the taxes the German government has imposed on green fuels. Another factor that has contributed to the negative outlook of the German biodiesel market is the generous export subsidies received by the US producers. The EU has now imposed an import tariff on US biodiesel imports to protect the European market. The country has reduced the blending target to 6.3% in 2010 from 6.8% as set out previously in the plan to cut carbon dioxide emissions, although the specific blending mandates for biodiesel will remained unchanged until 2014.
China has become the world’s largest automotive market in terms of units sold, surpassing the US. This, coupled with the country’s concern for energy security, has led to increased interest from the government in developing the alternative fuel vehicle market in the country. In 2009, the government of China provided a 10 billion yuan ($1.5 billion) subsidy for three years to automakers who upgrade their technology and develop alternative fuel vehicles. This stimulus package will result in rising activity in the biofuels sector in the country.
“Global Biodiesel Market Analysis and Forecasts to 2020” is the latest research from GlobalData. This report gives an in-depth analysis of the global biodiesel market and provides forecasts up to 2020. The research analyzes key trends, major issues and growth opportunities in the global biodiesel market. Market share by production capacity, elaborate profiling of major industry participants and information on major present and upcoming production facilities provide insight into the competitive scenario in the global biodiesel industry. This coupled with information on important news and deals provide a comprehensive understanding of the market. Information on the regulatory framework and key policies governing the industry has also been dealt with in detail.
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