Green Diesel Market is Projected to Reach $70.33 Billion by 2030 with CAGR of 12.56% – Exclusive Research by Market Research Future

According to the MRFR analysis, the Global Green Diesel Market value is projected to reach USD 70.33 million by 2030 at a CAGR of 12.56%.

The Global Green Diesel Market is estimated to expand significantly over the forecast period. The increasing demand for environment-friendly, particularly following the pandemic, and the rapid depletion of fossil fuels are likely to drive the market demand for green diesel. While the availability and cost related to feedstock, on the other hand, is projected to limit market expansion.

During the COVID-19 pandemic, the Global Green Diesel market experienced a stagnation in growth due to a negative impact on the overall fuel industry demand. With limitations in transportation and a global shortage of economic activity, commerce, and trade. However, the market witnessed significant growth post pandemic, due to the increasing awareness of renewable energy use. With a growing transport industry post-pandemic, in 2021 and 2022 the market experienced growth due to increasing demand for renewable fuel in the market. During the forecast period, the market is expected to continue to expand as its application and production are improved over time.

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Competitive Landscape

The Global Green Diesel Market is currently proliferating and is expected to boom in the future. The market comprises various local and global players. The key players in the industry are involved in various strategies such as new product launches, collaborations, corporate deals, mergers, and acquisitions to maintain and expand their market dominance.  Neste, Chevron Corporation, Valero Energy Corporation, Gevo, Inc., Phillips 66, Marathon Petroleum Corporation, Aemetis, Inc., Global Clean Energy Holdings, Inc., Shell Plc, PBF Energy Inc., And Eni are some of the prominent players in this market

Segmentation

By Feedstock

• Vegetable Oil: Vegetable oils are oils derived from a variety of plants. The feedstock for green diesel generation is biomass such as edible oils, non-edible oils, waste cooking oils, and plant oils such as canola, algae, jatropha, and salicornia. Hydro-treated Vegetable Oil or Hydrogenated Vegetable Oil have been utilized throughout the previous decade since vegetable oils were the most common biomass feedstock as they have high concentrations of unsaturated fatty acids such as linolenic, linoleic, and oleic acids. The Vegetable oil segment is currently the most extensively used feedstock segment in the green diesel market.

• Animal or Fish Fats: Animal fats & fish fats include beef fat, chicken fat, and salmon. Due to their renewable nature, high calorific value, chemical inertness, and zero corrosivity, waste animal fats derived from meat processing businesses, tanneries, and slaughterhouses appear to be appropriate feedstock for biofuel synthesis. Beef, tallow, poultry, and lard fats are the most common sources of animal fats. Animal tallow, a rendered type of fat, is becoming an increasingly appealing feedstock alternative for green diesel producers, because of its availability, cheap cost, and high cetane number. This segment is expected to be the fastest growing during the forecast period.

• Agricultural Residue: Agriculture residue material includes sugarcane, corn, wheat, bagasse, almond shells, and others, which contains cellulose, hemicellulose, and lignin which are converted to fuel after the thermochemical process, also the agriculture residue instead of burning is used in the production of green diesel.

• Other Biomass: The other biomass segments consist of algae or microalgae. They represent a new biomass family which is expected to support the production of the so-called “third generation” biodiesel and green diesel fuels. These are unicellular organisms that have a plentiful source of triglyceride oils that are found in abundance in all aquatic systems.

By Technology

• Hydro-processing: Hydro-processing in the biofuel industry refers to the chemical interaction of triglycerides in biomass lipids with H2 to produce liquid hydrocarbon fuels. H2 saturates the double bonds of triglycerides, producing various liquid fuels such as green diesel under certain circumstances. The generation of heavy green fuels, such as green diesel, needs primarily hydrotreatment conditions. The hydrotreating pathway is currently used by commercial production facilities, extensively.

• Catalytic upgrading: The catalytic upgrading of sugars and alcohols involves liquid phase technologies such as aqueous phase reforming. A variety of catalytic processes are used in this route to transform a carbohydrate stream into hydrocarbon fuels. Catalytic sugar and alcohol upgrading use liquid phase technology such as aqueous phase reforming. Hydrolysis, hydrogenation, hydrogenolysis, dehydration, isomerization, oxidation, aqueous phase reforming (APR), and aldol condensation are examples of liquid phase technologies. At a certain temperature, biomass (lignocellulosic, sugars, and starches) is processed with dilute sulfuric acid catalyst. The slurry is then purified of insoluble solids, proteins, and inorganic compounds that are harmful to the operation of the plant’s equipment and catalysts, and after possible hydrogenation or hydrogenolysis in pretreatment reactors, it is finally routed to the aqueous phase reforming (APR) catalytic reactor with a sugar concentration of 10 to 15% wt.

• Pyrolysis: Pyrolysis is the endothermic reaction that takes place by heating lignocellulosic biomass at 300–900 °C in absence of air. The method generates liquid pyrolysis oil, which may be refined to hydrocarbon fuels either independently or as a feedstock for co-feeding with crude oil into a normal petroleum refinery.

• Biomass to Liquid thermochemical process (Gasification): Biomass is thermally transformed to syngas and catalytically converted to hydrocarbon fuels throughout this process. Gasification is an exothermic process that partially oxidizes biomass or carbonaceous fuels to produce synthesis gas (syngas). It is accomplished by heating the material over 700 °C with a regulated sub-stoichiometric quantity of O2 and/or steam, resulting in the formation of mixes including syngas (i.e., CO and H2) and lesser quantities of CO2 and CH4. In biomass to liquid technology involves the production of syngas which are rich in H2 and CO and the subsequent chemical synthesis of liquid green diesel through the well-known Fischer-Tropsch (FT) process. 

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By Type

• Pure Form: Green diesel in its purest form has the nomenclature R20. Because renewable diesel is chemically identical to petroleum diesel, it may be used as a drop-in fuel in its pure form.

• Blended Form: The blended form refers to the blended variation of diesel. R20, for instance, is a combination of 20% renewable diesel and 80% petro-diesel. B20R80 is a combination of 20% biodiesel and 80% green (renewable) diesel that produces 100% biofuel. B20R20 combines 20% biodiesel, 20% renewable fuel, and 60% petroleum diesel. Because renewable diesel is chemically identical to petro-diesel, it may be combined in any quantity; however, users may need to add an additive to alleviate lubricity issues associated with molecules that lack oxygen. Green diesel is extensively used in its blended form in the market.

By Application

• Fuel: Since green diesel has the same chemical structure as petroleum diesel, it may be used in engines built to run on conventional diesel fuel without the need for mixing. It satisfies the ASTM D975 standard for conventional petroleum, allowing it to be utilized in existing infrastructure and diesel engines.

• Power Generation: Green Diesel is also used as a fuel for diesel generators for generating electricity during times of power cuts in hospitals communities and office areas, approx. Biopower systems employ procedures like those used with fossil fuels to transform sustainable biomass fuels such as green diesel into power generation and electricity. It can also be utilized to produce electricity in backup systems in places where emissions are a concern, such as schools, hospitals, and residential areas.

• Others:  The other applications of green diesel can include heat generation and use in machinery. The notion of bioheat has grown in popularity in recent years. It relies on biofuels such as biodiesel and green (renewable) diesel as a source of heat. A green diesel blend for heating can also minimize sulfur, carbon, and nitrogen emissions. Application in which diesel is used is the industrial machinery used for lifting heavy loads, also used in construction in operating machines in the construction, green diesel or green diesel blends can also be substituted.

By Region

• North America: North America holds up the largest market in the production of green diesel with its advancement in technology and promoting a clean environment, also with the increase in concern government made mandatory rules for the usage of green diesel. The government has also introduced various incentives to increase the cost competitiveness of green diesel. Many renewable diesel (green diesel) manufacturers are stationed in this region, especially in the US. As per EIA, the U.S. renewable diesel production capacity was 170,000 barrels per day (b/d), or 2.6 billion gallons per year (gal/y), at the end of 2022.

• Europe: Major countries like Russia, Germany, UK seek to decarbonize maritime, aviation, and heavy-duty road transport by replacing fossil fuelsAccording to Bio-Diesel Magazine, demand for renewable diesel in the European Union was up in 2020 and 2021 despite the COVID-19 pandemic. Demand for green liquid fuels in Europe is set to double by 2030. The Netherlands is expected to be the top renewable diesel producer in 2022 at 1.22 billion liters, followed by Italy and Spain at 800 million liters and 460 million liters, respectively.

• Asia-Pacific: Asia-Pacific countries’ efforts to decarbonization are most likely to determine the extent of adoption of renewable diesel. With the increase in new technology to reduce carbon emissions the countries have started using new clean fuels like green diesel. India, China, and Japan have come up with the production and use of green diesel fuel as an alternative to normal diesel.

• Middle East & Africa: With the development of infrastructure and urbanization, the industrial and logistic use increase will increase the demand for green diesel.

• South America: With the growing demand due to the rise in industrialization and urbanization in major countries, the need and production of clean fuel will increase which increase the market of green diesel fuel.

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