The Expanding Horizons of the Biodiesel Market

According to ChemAnalyst report, “ Global Biodiesel Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Foreign Trade, Company Share, 2015-2032” The Biodiesel market witnessed steady growth in the historical years and is estimated to reach a market volume of 50 million tonnes in 2022 and is expected to grow at a CAGR of 3.87% until 2032. Biodiesel releases lesser greenhouse gas emissions and is biodegradable and with the growing need for replacing fossil fuel with renewable fuel it is projected to that the demand of biodiesel is expected to rise in the forecast period. In recent years, the biodiesel market has witnessed a considerable increase in demand due to growing environmental concerns and government initiatives promoting cleaner energy solutions. Biodiesel is considered a viable option as it is biodegradable, non-toxic, and significantly redu...