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| Global Biodiesel Catalyst Market Size |
The biodiesel catalyst market has emerged as a lucrative business avenue for
key stakeholders in the recent past. Biodiesel is produced through the chemical
process of transesterification, in which triglycerides react with an alcohol in
the presence of a catalyst to produce biodiesel and glycerol. Catalysts are
important in achieving high conversion rates during biodiesel production in a
cost-effective manner. The global biodiesel industry has been witnessing decent
expansion owing to supportive government policies and initiatives promoting the
usage of renewable fuels. With biodiesel production anticipated to boom through
2030, demand for various catalysts is also projected to spike substantially
over the next few years.
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 2024 to 2030.
Catalysts like sodium methoxide and sodium hydroxide
are predominantly used for biodiesel production due to their favorable
economics. Biodiesel offers various environmental benefits over petroleum
diesel such as reduced emissions and better biodegradability. It can be
utilized as a substitute for diesel in compression-ignition engines with minor
modifications. Heightened focus on curbing carbon emissions and achieving
energy independence has prompted many nations to mandate the blending of
biodiesel with petrodiesel.
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.
are focusing on enhancing their product portfolio and developing new catalyst
formulations with superior performance.
North America and Europe present lucrative Global
Biodiesel Catalyst Market Size opportunities owing to robust policy
support and strong demand dynamics. However, Asia Pacific is anticipated to
witness the fastest CAGR through 2030 on account of the region's rising energy
needs and renewable fuel adoption. Moreover, several national biodiesel
associations in countries like India and China are actively promoting biodiesel
manufacturing and usage.
Market drivers
The key driver for the biodiesel catalyst market is the growing environmental
concerns over greenhouse gas emissions from fossil fuels coupled with rising
sustainability goals. Stricter emission norms worldwide along with
incentives/mandates for usage of renewable fuels are driving the biodiesel
industry. This expanding biodiesel production is expected to boost demand for
manufacturing catalysts.
Market restraints
Volatility in feedstock prices impacting biodiesel production economics can act
as a restraint for the catalyst market. Moreover, high R&D costs associated
with developing advanced catalyst formulations with high efficiencies also
impede broader market growth. Lack of widespread infrastructure for biodiesel distribution
in different geographies poses another challenge.
Segment Analysis
The biodiesel catalyst market is dominating by heterogeneous catalyst sub
segment. Heterogeneous catalyst such as metal oxides are widely used as
catalysts in biodiesel production as they are economical, easily separable from
products, reusable and resist catalyst poisoning. They offer effective
conversion of oils into biodiesel with high yield and selectivities. For
instance, CaO is a popular heterogeneous catalyst used that results in 98%
yield of biodiesel. Its heterogeneous nature makes it durable and cost
effective for commercial biodiesel production applications.
Global Analysis
The North America region holds the largest share in the biodiesel catalyst
market and is expected to grow at a high CAGR during the forecast period. This
is attributed to the growing demand for biodiesel fuel due to stringent
environmental norms in the region. For example, the US EPA Renewable Fuel
Standard (RFS) program mandated the use of biodiesel in the transportation fuel
sector. Additionally, presence of key catalyst manufacturers and biodiesel
producers in the US and Canada drive the regional market. The Asia Pacific
region is expected to grow at the fastest pace owing to rising biodiesel production
in major economies like China, India and Indonesia. China is the largest
producer of biodiesel in Asia Pacific and mandatory blending of biodiesel with
diesel fuel supports the regional market growth.
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Catalyst Market