The biodiesel catalyst market primarily involves production of fatty acid methyl esters (FAME) derived from vegetable oils and animal fats. Biodiesel is a renewable, biodegradable and non-toxic fuel that can be used in diesel engines with little or no modifications. It provides benefits like reduced tailpipe emissions, improved lubricity over petroleum diesel and enhanced energy security by reducing dependency on imported petroleum. Biodiesel catalysts are added to the fuel to accelerate transesterification reaction and reduce production time. Commonly used biodiesel catalysts include sodium methylate, sodium hydroxide and potassium hydroxide.
The Global biodiesel catalyst market is estimated to be valued at US$ 266.69 Bn in 2024 and is expected to exhibit a CAGR of 24.% over the forecast period between 2024 to 2030.
Key Takeaways
Key players operating in the biodiesel catalyst market are Myriad Genetics, Inc., F. Hoffmann-La Roche AG, Invitae Corporation, NeoGenomics Laboratories, Inc., BPS Bioscience, Inc. Antibodies Inc., Networks LLC, Beckman Coulter, Inc., Euro Diagnostica AB, F. Hoffmann-La Roche Ltd., Qiagen NV, Siemens Healthcare GmbH, Bio Rad Laboratories Inc., Exagen Inc., Genway Biotech, Inc., Microdrop LLC (imaware), Svar Life Science AB and Thermo Fisher Scientific Inc.. Growing awareness about vehicular emissions and their impact on environment has increased the demand for biofuels in transportation sector. Various countries in Europe and Asia Pacific region have mandated usage of biodiesel blends to reduce dependence on fossil fuels. Further, government incentives and subsidies are encouraging private players to invest in biodiesel production facilities to meet the rising global energy demands.
The Global Biodiesel Catalyst Market Size is witnessing high growth on account of increasing adoption of biofuels across the globe. Strict emission norms and depleting petroleum reserves are propelling the demand for biodiesel. Further, development of novel heterogeneous catalysts that require lower reaction temperatures and time will enhance process economics and boost market expansion.
Market Key Trends
One of the major trends in biodiesel catalyst market is development of solid catalysts that can be easily separated after transesterification reaction and reused multiple times. This reduces production cost and makes biodiesel economically viable. Researchers are conducting studies to design immobilized solid acid catalysts with highly dispersed active sites, large surface area and superior activity/selectivity for biodiesel synthesis. If commercialized, these solid catalyst systems can revolutionize the biodiesel industry and drive higher market adoption of biofuels globally.
Porter’s Analysis
Threat of new entrants: The biodiesel catalyst market requires high capital investment which acts as a barrier for new companies. Bargaining power of buyers: Large buyers can negotiate lower prices for biodiesel catalyst which increases their profit margins. Bargaining power of suppliers: Leading biodiesel catalyst manufacturers have significant control over pricing and supply of raw materials. Threat of new substitutes: Alternative technologies for biodiesel production involving enzymes instead of catalysts are emerging as substitutes. Competitive rivalry: Intense competition exists among existing biodiesel catalyst manufacturers to gain market share through product innovation and competitive pricing.
Geographical regions
North America accounted for the largest share in the global biodiesel catalyst market in terms of value in 2019. This is attributed to supportive government policies and increasing demand for renewable fuels in the region. China is expected to exhibit the fastest growth during the forecast period. This is owing to growing biodiesel production and rapidly expanding biofuel industry in the country.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it