News

Jul 02, 2023

Biodiesel Catalyst Market worth $325.8 Million by 2030 Globally, at a CAGR of 5%, Says Coherent Market Insights

Biodiesel catalyst is a vital component in the production of biodiesel fuel from renewable sources. Typically, catalysts are used to accelerate and optimize the reaction, making it more efficient and

Biodiesel catalyst is a vital component in the production of biodiesel fuel from renewable sources. Typically, catalysts are used to accelerate and optimize the reaction, making it more efficient and cost-effective.

Burlingame, July 28, 2023 (GLOBE NEWSWIRE) -- Coherent Market Insights published a report, titled, “ Biodiesel Catalyst Market, By Catalyst Type (Homogeneous Catalysts, Heterogeneous Catalysts), By Catalyst Source (Chemical Catalysts, Biological Catalysts), By Feedstock (Vegetable Oil-based Catalysts, Animal Fat-based Catalysts, Algae-based Catalysts), By Catalyst Application (Transesterification Catalysts, Esterification Catalysts, Hydrogenation Catalysts, Decarboxylation Catalysts), By Catalyst Form (Liquid Catalysts, Solid Catalysts, Enzymatic Catalysts), The global Biodiesel Catalyst Market is approximated to be $231.5 million in 2023, and it is projected to reach $325.8 million by 2030 at a CAGR of 5%., as per the recent study by Coherent Market Insights, Inc.

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Analysts’ Views on Global Biodiesel Catalyst Market

Biodiesel is a source of renewable energy that could replace petroleum diesel fuel. Biodiesel can be produced from various vegetable and animal oils. Catalysts used in producing biodiesel can be of different forms. A catalysts is a material promotes and supports chemical reactions. In the process of biodiesel production, free fatty acids are turned into ethyl or methyl esters using alkali and acid catalysts. This process is known as transesterification. With increasing demand for biodiesel, the adoption of various types of catalysts is increasing in the biodiesel industry.

Key Trends and Analysis of the Global Biodiesel Catalyst Market:

Increasing shift to solid catalysts is trending in the global biodiesel catalyst market. Solid catalysts, specifically solid acid catalysts are growing popular in the biodiesel industry. As compared to liquid catalysts, solid catalysts provide more benefits such as reduced generation of wastewater, easier separation, and enhanced catalyst reusability. Moreover, these catalysts can mitigate challenges related to conventional liquid catalysts such as catalyst corrosion and poisoning. Thus, this trend is likely to continue in the global biodiesel catalyst market over the forecast period.

Global Biodiesel Catalyst Market – Drivers

Government initiatives and regulations to drive the market growth

Lucrative government regulations and policies encourage the use of biodiesel. This in turn creates the demand for biodiesel catalysts. Several countries are implementing renewable fuel standards and blending mandates requiring a specific percentage of biodiesel blended with traditional diesel fuel. Government incentives such as subsidies or tax credits further promote biodiesel production. This factor is thus expected to boost growth of the global biodiesel catalyst market over the forecast period.

Biodiesel Catalyst Market Report Coverage

Report Coverage

Details

Base Year:

2022

Market Size in 2023:

US$ 231.5 Mn

Historical Data for:

2017 to 2021

Forecast Period:

2023 - 2030

Forecast Period 2023 to 2030 CAGR:

5%

2030 Value Projection:

US$ 325.8 Mn

Geographies covered:

North America: U.S. and Canada

Latin America: Brazil, Argentina, Mexico, and Rest of Latin America

Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe

Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific

Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East

Segments covered:

By Catalyst Type: Homogeneous Catalysts, Heterogeneous Catalysts

By Catalyst Source: Chemical Catalysts, Biological Catalysts

By Feedstock: Vegetable Oil-based Catalysts, Animal Fat-based Catalysts, Algae-based Catalysts

By Catalyst Application: Transesterification Catalysts, Esterification Catalysts, Hydrogenation Catalysts, Decarboxylation Catalysts

By Catalyst Form: Liquid Catalysts, Solid Catalysts, Enzymatic Catalysts

Companies covered:

BASF SE, Evonik Industries AG, Clariant AG, DuPont de Nemours, Inc., Albemarle Corporation, Arkema SA, Johnson Matthey PLC, Mitsubishi Chemical Corporation, Honeywell International Inc., Shell Catalysts & Technologies, W. R. Grace & Co., Haldor Topsoe A/S, Dow Chemical Company, CRI Catalyst Company, and Sud-Chemie India Pvt. Ltd. (Clariant India Ltd.).

Growth Drivers:

Advancements in Material Formulations

Increasing Adoption of 3D Printing Technology

Customization and On-Demand Manufacturing

Cost and Time Savings

Restraints & Challenges:

Material Properties and Performance Limitations

Cost of Materials

Intellectual Property and Material Formulations

Availability of feedstock to boost growth of the market

The increasing availability of suitable feedstocks such as animal fats, used cooking oil, and vegetable oils is important for biodiesel production. With the increase in availability as well as diversity of feedstocks, the expansion of biodiesel production also increases, in turn, the demand for biodiesel catalyst is increasing all over the world. This factor is thus expected to propel growth of the global biodiesel catalyst market over the forecast period.

Global Biodiesel Catalyst Market – Restrain

Changing prices of feedstock to hinder the market growth

The feedstocks prices, specifically animal fats and vegetable oils show fluctuations, which poses major challenge for biodiesel production economics. The volatility in price makes predicting profitability and cost of producing biodiesel more difficult, this further impacts demand for biodiesel catalysts. This factor is thus likely to hamper growth of the global biodiesel catalyst market over the forecast period.

Global Biodiesel Catalyst Market – Opportunities

Increasing advancements in technology of catalyst is expected to create growth opportunities in the global biodiesel catalyst market over the forecast period. The growing focus on improvement in catalyst performance, efficiency, and selectivity is driving R&D activities in the market. Catalyst manufacturers are thus witnessing lucrative opportunities for development and commercialization of advanced catalyst technologies offering enhanced stability, higher conversion rates, and reduced production costs.

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Global Biodiesel Catalyst Market - Key Developments

In 2020, BASF introduced Evolve 50, a novel biodiesel catalyst that provides enhanced performance and flexibility in different feedstock types. The new product is designed for providing high stability and activity, which enables sustainable and efficient biodiesel production.

In 2019, Clariant launched EnviCat Biodiesel Catalyst, which is specifically designed to production of biodiesel and offers high efficiency and low waste generation. This helps further biodiesel producers improves their environmental and operational performance.

In 2018, Clariant, and Elevance Renewable Sciences announced partnership for the development and commercialization of novel catalysts for production of biodiesel, focused on improvement of process sustainability and efficiency.

Key Market Takeaways:

Global biodiesel catalyst market is expected to exhibit a CAGR of 5% during the forecast period. The biodiesel catalyst market is growing rapidly in response to volatility in crude oil prices. Fluctuation in crude oil prices and concerns regarding energy security is driving the shift toward biofuels including biodiesel. This further creates demand for biodiesel catalysts.

On the basis of Type, Homogeneous Catalysts Segment is expected to dominate the market during the forecast period and this is attributed to the due to high demand for homogeneous biodiesel catalysts, as they offer various benefits.

On the basis of Catalyst Source, Chemical Catalysts Segment is expected to dominate the market during the forecast period and this is attributed to the growing consumption of chemical compounds for catalysts utilized in production of petrochemical products.

On the basis Feedstock, Vegetable Oil-based Catalysts Segment is expected to dominate the market during the forecast period and this is attributed to the increasing adoption of vegetable oil to obtain biodiesel for automotive engines.

On the basis Catalyst Application, Transesterification Catalysts Segment is expected to dominate the market over the forecast period and this is attributed to the widespread use of transesterification catalysts to create biodiesel.

On the basis Catalyst Form, Solid Catalysts Segment is expected to dominate the market during the forecast period and this is attributed to the various benefits of solid catalysts over liquid catalysts, such as enhanced reusability, reduced production of wastewater, and easier separation.

On the basis of Geography, North America is expected to hold a dominant position over the forecast period, due to availability of favorable government policies such as the RFS (Renewable Fuel Standard) mandating the biofuels blending including biodiesel into traditional transportation fuels. Moreover, availability of feedstocks such as soybean oil and used cooking oil is further driving growth of the biodiesel catalyst market in North America region.

Competitive Landscape:

Key players operating in the global biodiesel catalyst market include BASF SE, Evonik Industries AG, Clariant AG, DuPont de Nemours, Inc., Albemarle Corporation, Arkema SA, Johnson Matthey PLC, Mitsubishi Chemical Corporation, Honeywell International Inc., Shell Catalysts & Technologies, W. R. Grace & Co., Haldor Topsoe A/S, Dow Chemical Company, CRI Catalyst Company, and Sud-Chemie India Pvt. Ltd. (Clariant India Ltd.).

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Detailed Segmentation:

Global Biodiesel Catalyst Market, By Catalyst Type

Homogeneous Catalysts

Heterogeneous Catalysts

Global Biodiesel Catalyst Market, By Catalyst Source

Chemical Catalysts

Biological Catalysts

Global Biodiesel Catalyst Market, By Catalyst Feedstock

Vegetable Oil-based Catalysts

Animal Fat-based Catalysts

Algae-based Catalysts

Global Biodiesel Catalyst Market, By Catalyst Application

Transesterification Catalysts

Esterification Catalysts

Hydrogenation Catalysts

Decarboxylation Catalysts

Global Biodiesel Catalyst Market, By Catalyst Form

Liquid Catalysts

Solid Catalysts

Enzymatic Catalysts

Global Biodiesel Catalyst Market, By Catalyst End Use Industry

Automotive

Aerospace

Marine

Power Generation

Industrial

Others

Global Biodiesel Catalyst Market, By Region:

North America

By Country:

U.S.

Canada

Latin America

By Country:

Brazil

Mexico

Argentina

Rest of Latin America

Europe

By Country:

Germany

U.K.

France

Italy

Spain

Russia

Rest of Europe

Asia Pacific

By Country

China

India

Japan

Australia

South Korea

ASEAN

Rest of Asia Pacific

Middle East

By Country:

GCC Countries

Israel

Rest of Middle East

Africa

By Country/Region:

South Africa

Central Africa

North Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

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