Other Prominent Vendors in the market are: Archer Daniel Midland, Brazil Eco, Louis-Dreyfus, and Petrobras.
Commenting on the report, an analyst said: “Benefits of biodiesel in reducing GHGs and energy insecurity have captured the interest of governments globally. With the biodiesel production gaining momentum and finding more applications, the need to comply with environmental regulations has gained importance. The feedstock used for the production of biodiesel varies from region to region. The biodiesel market faces competition from the food sector for feedstock. This has increased the prices. Therefore, to balance the use, specific regional governments are overseeing the situations by setting environmental regulations regarding the composition and quality of the biodiesel produced.”
According to the report, the large-scale production of biodiesel and scientific advancements have improved fuel quality, increasing the scope of biodiesel use from conventional road transport to aviation, public transport, railways, and military. The cost of production of biodiesel is relatively high (compared to conventional fuels), but the subsidies offered by many governments strengthen the market prospects for biofuels and continue to drive the demand for biodiesel in many countries.
Further, the report states that the reduction in oil prices and the high costs of biodiesel production are some challenges for biodiesel consumption.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Oct 27, 2015