Biodiesel Industry Procurement Outlook
Biodiesel is a clean and renewable fuel which is produced from the waste generated of vegetable oils, animal fats, and recycled restaurant greases. It produces less toxic gases and pollutants compared to petroleum diesels.
Feedstock Outlook
Different forms a biodiesel can be used are:
These different types of forms are helping countries to reduce their dependency on foreign oil (imports). Moreover, biodiesels can be used in the existing diesel engines and fuel systems with little to no modification.
Key benefits of using Biodiesels are:
Fossil fuels release greenhouse gases which are harmful to the environment. Many countries are promoting Biodiesels to reduce global warming, as biodiesels are expected to reduce greenhouse gases up to 78%
Biodiesels help in reducing dependency on fuel imports as it can be produced from domestic energy crops. Moreover, the Bio refineries exert less toxic chemicals compared to traditional fuel refineries such as benzene and butadiene which are harmful to the environment
Application Outlook
Grab your copy, or request for a free sample of the “Biodiesel Industry Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.
Biodiesel Industry Demand Outlook
The global biodiesel market size was estimated at USD 38.5 billion in 2020 and is expected to register a compound annual growth rate (CAGR) of 7.3% from 2021 to 2027. Key driving factors include: preference towards use of fuel which results in lower emissions and fluctuating prices of petroleum-based products.
Automobile manufacturers such as DaimlerChrysler and Volkswagen are encouraging consumers to use biodiesel by extending warranties on vehicles that run on such fuel. Similarly, in the US – The Department of Defense (the single largest consumer of oil) has decided to use biodiesel blends in most of it on-road fleets.
Europe has been the largest market for the product over the past few years owing to the early adoption of the product in the region coupled with high government focus to replace carbon-emitting sources with bio-based products.
Biodiesel Industry Cost Drivers
Biodiesels have the potential to become cheaper than gasoline in the near future as the fossil fuel prices keep rising. However, the actual cost benefit comes from fewer emissions while burning, it also has better lubricating properties which reduces maintenance on engines and lower pollution check costs.
Add-on Services provided by Grand View Research Pipeline:
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
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