United States Biodiesel Market Size And Forecast Report 2024-2032

United States Biodiesel Market

With a compound annual growth rate (CAGR) of 6.05% from 2024 to 2032, the biodiesel market in the United States is predicted to grow from US$ 39.27 billion in 2023 to US$ 66.65 billion by 2032. United States Biodiesel Market One of the main drivers driving the U.S. biodiesel business is the increase in domestic manufacturing of various biodiesel feedstocks, such as animal fats, recycled cooking oil, and soybean oil. The ease of access and ensuing cost savings associated with the increased availability of these necessary components domestically have significantly increased biodiesel production, spurring the expansion of the industry overall.

 

United States Biodiesel Market Trends/Drivers:

 

Increasing Domestic Production of Biodiesel

 

The rising domestic supply of various biodiesel feedstocks, such as recycled cooking oil, animal fats, and soybean oil, is one of the major factors propelling the U.S. biodiesel business. The increased availability of these essential components on a domestic level has made manufacture of biodiesel much easier and more affordable, which has in turn accelerated the expansion of the US market as a whole. Furthermore, federal biofuel regulations like the Biomass-Based Diesel Volume Obligation and the Renewable Fuel Standard (RFS) have a significant impact on the growth of the biodiesel sector. They establish a supportive regulatory framework that promotes the national expansion of biodiesel use and expanded production by requiring a minimum amount of biofuels to be included in transportation gasoline.

 

Application – Market breakup in 3 viewpoints:

 

  1. Fuel
  2. Power Generation
  3. Others

 

Feedstock – Market breakup in 2 viewpoints:

 

  1. Vegetable Oil
  2. Animal Fats

 

Where has the United States increased imports from?

 

Germany is largely to blame for the rise in biodiesel shipments into the United States. Germany is becoming the leading supplier of biodiesel imports into the United States, with imports from there more than doubling to 11,000 b/d between 2022 and 2023. With minor increases also coming from South Korea and Brazil, Spain, Italy, and Belgium accounted for the majority of the remaining increase in U.S. imports of biodiesel.

 

The distribution of biodiesel imports into the United States is a reflection of that country’s output. Germany is the European nation that generates the greatest amount of biodiesel and imports the second-most in the continent. Belgium, Italy, and Spain are significant producers and exporters of biodiesel.

 

The regional distribution of biofuel companies that take advantage of arbitrage opportunities is reflected in the distribution of biodiesel imports into the United States. For instance, according to company-level import data, since November 2022, the majority of U.S. imports of biodiesel—including all imports of biodiesel from Germany—have been recorded as coming from Archer-Daniels-Midland (ADM), an international agricultural processing and commodities trading company with biodiesel plants in Germany, Canada, Brazil, and the United States. The largest oil-seed processing facility in Europe is owned by ADM, which also has an export terminal in Hamburg, Germany. According to Vortexa tanker tracking data, this facility has been the source of all biodiesel imports into the United States from Germany since 2022.

 

States – Market breakup of 29 States:

 

  1. California
  2. Texas
  3. New York
  4. Florida
  5. Illinois
  6. Pennsylvania
  7. Ohio
  8. Georgia
  9. New Jersey
  10. Washington
  11. North Carolina
  12. Massachusetts
  13. Virginia
  14. Michigan
  15. Maryland
  16. Colorado
  17. Tennessee
  18. Indiana
  19. Arizona
  20. Minnesota
  21. Wisconsin
  22. Missouri
  23. Connecticut
  24. South Carolina
  25. Oregon
  26. Louisiana
  27. Alabama
  28. Kentucky
  29. Rest of United States

 

 Related Report :

 

United States Biodiesel Market

United States Biodegradable Plastics Market

Biodiesel Market

 

US set to capitalize on rising biofuel demand; production to hit 1.3 million boepd in 2035

 

Assume a consumer want to sign up for a monthly subscription service like a food delivery service or streaming The US biofuels market is expanding rapidly, and in the upcoming years, there will be a greater demand for sustainable aviation fuels (SAFs) and renewable diesel, which will lead to another spike in output. According to Rystad Energy study, biofuel output in the United States is expected to rise by around 53% by the mid-2020s, from 850,000 barrels of oil equivalent per day (boepd) in 2023 to approximately 1.3 million boepd in 2035. As early as 2026, domestic output is predicted to exceed one million boepd.

 

All the key players have been covered from 3 Viewpoints:

 

  1. Overview
  2. Recent Development
  3. Revenue

 

 

Company Analysis

 

  1. Archer Daniels Midland Company
  2. FutureFuel
  3. Neste’s
  4. Renewable Energy Group, Inc.
  5. Bunge Global SA
  6. Wilmar
  7. Shell

 

About the Company: 

 

Renub Research is a Market Research and Information Analysis company with more than 15 years of experience in Research, Survey, and Consulting. Our research helps companies to take business decisions: on strategy, organization, operations, technology, mergers & acquisitions, etc. Till now we have published more than 9000 syndicated reports and worked on more than 750 custom research projects. Currently, we are supplying data to EMIS, Bloomberg, Thomson Reuters, etc. We support many blue-chip companies by providing them with findings and perspectives across a wide range of markets.

 

About Ali Zafar

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