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Market Overview
Renewable diesel is a type of fuel that is made from renewable feedstocks such as vegetable oils, animal fats, and recycled cooking oil. It has similar properties to petroleum-based diesel and can be used in diesel engines without requiring any modifications. There are several factors that can drive the demand for renewable diesel
Global Renewable Diesel market is estimated to reach $2.61 Million by 2030; growing at a CAGR of 19.09% from 2023 to 2030.
Market Determinants
The benefits from lower carbon footprint from renewable diesel compared to fossil fuels and government incentives towards public adoption of eco-friendly fuel alternatives are key driving factors of the market. However, limited production capacity and high upfront costs might hamper the market growth. The technological advancements in production of renewable diesel would provide lucrative opportunities for the market in coming years.
Market Segmentation/Report Scope
The global Renewable Diesel market is mainly classified based on Type and Application.
Type is further segmented into From Lipids and From Cellulosic Biomass.
By Application the market is divided into Locomotive, Ships, Power Plant, and Others.
Regional Segementation
Based on geography, the global Renewable Diesel market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.
Competitive Landscape
Key players operating in the Renewable Diesel industry include Neste, PBF Energy Inc., Chevron Corporation (Renewable Energy Group), Valero Energy Corporation, GEVO, Inc., Phillips 66, Aemetis, Inc., Marathon Petroleum Corporation, Shell plc, Global Clean Energy Holdings, Inc., Ryze Renewables, and World Energy.
Renewable Diesel Market Key Segments:
By Type
- From Lipids
- From Cellulosic Biomass
By Application
- Locomotive
- Ships
- Power Plant
- Others
Key Global Renewable Diesel Industry Players
- Neste
- PBF Energy Inc.
- Chevron Corporation (Renewable Energy Group)
- Valero Energy Corporation
- GEVO, Inc.
- Phillips 66
- Aemetis, Inc.
- Marathon Petroleum Corporation
- Shell plc
- Global Clean Energy Holdings, Inc.
- Ryze Renewables
- World Energy
What Report Provides
- Full in-depth analysis of the parent Industry
- Important changes in market and its dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional growth potential
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