New Report Outlines Double-Digit Growth for the Global Biodiesel MarketPR Web -- IRVING, TX -- May 15, 2012 -- The global biodiesel market has experienced robust growth over the last five years and is expected to continue its momentum, reaching approximately US $64 billion by 2017with a CAGR of 19% over the next five years.
Lucintel’s research illustrates that, despite the controversies surrounding biofuel such as sustainability, food versus fuel, and the like, biofuel supply and demand is projected to grow over the forecast timeframe. Ethanol is projected to occupy a major chunk of the total biofuel production while biodiesel is expected to more than double in demand from 2011 levels.
As per the study,the use of biodiesel in the transportation sector is gaining traction where nontoxic properties, biodegradability, lower emissions, and other performance benefits are critical. The growth driver in biodiesel usage is not only being generated inEurope. The Rest of the World(ROW) and Asia Pacific(APAC) are expected to experience tremendous growth in biodiesel supply and demand by 2017, driven primarily by public policy support. Countries such as Brazil, Argentina, India, China, Malaysia, Indonesia, and Thailand produce for domestic and exportmarkets.
APAC is expected to enjoy the highest growth rate in biodiesel production, while EU is expected to have the highest revenue value in the annual biodiesel market during 2017. APAC has thehighest growth potential due to population density and burgeoning automotive markets. Lucintel’s analysis on the competitive landscape and industry fundamentals indicates that the market is likely to remain profitable over the next five years.
The report, which provides trend scenarios and forecast statistics for 2012–2017, details drivers and challenges, industry background and characteristics, and makes an elaborate analysis of the biodiesel market, while exploring growth opportunities and emerging trends in the biodiesel market.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or email helpdesk(at)lucintel(dot)com.
Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.
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