biodiesel industry analysis (1)

Biodiesel is a diesel fuel surrogate used in diesel engines. The feedstock is obtained from various feedstocks, including vegetable oils such as rapeseed oil, soybean oil and waste & residues. The multiple advantages of using biodiesel include its biodegradability, reduced dependency on conventional fuels, and reduced greenhouse gas emissions. The government policies and tax rebates to support the adoption of biodiesel also add to the growth of the biodiesel market globally. According to Renub Research, the Global Biodiesel Market is projected to reach US$ 50.1 Billion by 2027.

Also, the feedstock used in a particular country relies on the accessibility of crops in that country. For instance, rapeseed oil is presently the most prevalent feedstock used in biodiesel production, followed by soybean oil. Rapeseed oil is usually used in many European countries for biodiesel production, whereas soybean oil is used in the U.S. and Argentina. Furthermore, biodiesel is mixed with diesel to crea