Market Size of Biodiesel as a Fuel in Germany (2017 – 2021)
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The Market value of Biodiesel as a fuel in Germany reached $3,396.6 million in 2021
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During the same period, the industry witnessed a Market volume of 1,081.2 million gallons
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The industry recorded a historical growth (CAGR) of 3.2% between 2017 and 2021 in terms of value, while the underlying market volume grew (CAGR) by 2.3% between 2017 and 2021
Market Size of Biodiesel as a Fuel in Germany (2017 – 2021)
With a projected growth in population and demand for energy, an increase in greenhouse gas (GHG) emissions due to the use of conventional fuels creates an urgency to shift to low-carbon alternative fuels. One of the global efforts underway is to promote the use of less-polluting fuels such as biofuels, biodiesel or bioethanol. Automobiles using diesel or gasoline have been a major source of GHG emissions, forcing governments to promote the use of blended fuels to reduce emissions. For example, countries such as France have mandated companies to produce such blended fuels for vehicles and are also promoting its use as aviation fuel. Companies such as Shell have taken steps to reduce their carbon footprint by a fifth by 2035. This has resulted in Shell producing ethanol.
Biodiesel is manufactured from vegetable oils and animal fats and is a cleaner renewable fuel that can be used as a replacement in any diesel engine. Biodiesel is also a non-toxic biodegradable fuel and contains zero sulphur or harmful aromatic compounds. It can also reduce lifecycle GHGs by up to 86% compared to petroleum and diesel.
The global market for biodiesel is expected to grow as the world targets carbon neutrality by 2050. Germany is one of the five dominant markets in the world, along with Sweden, France, the United States, and Brazil.
Germany’s biodiesel as a fuel market was valued at $3,397 million in 2021, with a market volume of 1,081 million gallons. The country’s market value declined at a CAGR of 3.2% during 2017–21, and the market volume also declined 2.3% during this period. In recent years, the country’s market witnessed a marginal decline in terms of value and volume. However, the government policies on using biofuels such as biodiesel and commitment to reducing emissions will help the biodiesel market to grow in the future.
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