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: |
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| Segments covered: |
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| 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: |
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| Restraints & Challenges: |
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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
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC Countries
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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