The “Europe Biodiesel Market Report by Application (Fuel, Power Generation, Others), Feedstock (Vegetable Oil, Animal Fats), Country and Company Analysis 2024-2032” is now available on ResearchAndMarkets.com. The Europe biodiesel market is projected to reach approximately $17.72 billion by 2032, with a CAGR of 5.61% from 2024 to 2032. In 2023, the market was valued at $10.84 billion.
While global energy demand continues to rise, the world is facing a decline in fossil fuel reserves. The World Economic Forum reported a 19% drop in fossil fuel power generation in Europe in 2023, alongside a record decrease in fossil fuel consumption. In response, the European biodiesel market is seeing growth due to the increasing demand for renewable energy sources.
According to IEA Bioenergy, the EU produced around 16 Million Tonnes of Oil Equivalent (Mtoe) of biofuels in 2020, accounting for 6.3% of total transport fuel consumption, with biodiesel contributing significantly to this figure. The push for eco-friendly fuel options to combat climate change is driving the expansion of the European biodiesel market.
The EU’s initiatives, such as the 2023 Renewable Energy Directive (RED), aim to increase renewable energy usage in transport to 29% by 2030. This government support and growing renewable energy demand are expected to further boost the biodiesel market in Europe.
Key industry developments include Trafigura’s acquisition of Greenergy’s European business in 2024 and Cepsa’s and Bio-Oils’ plan to build the largest second-generation biofuels facility in Southern Europe.
Key companies analyzed in the report include:
- Archer Daniels Midland Company
- Future Fuel
- Neste
- Renewable Energy Group, Inc.
- Bunge Global SA
- Wilmar
- Shell
The report covers topics such as market dynamics, application, feedstock, country analysis, and company developments across Europe, including Germany, France, Italy, Spain, and the UK.
Key report highlights:
- Forecast period: 2023-2032
- 2023 market value: $10.84 billion
- 2032 projected market value: $17.72 billion
- CAGR: 5.6%
- Key regions: Europe
