by The global Biodiesel Catalyst Market is estimated to be valued at US$ 231.5 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Biodiesel is an alternative to petro-diesel and helps reduce dependency on petroleum fuels. Biodiesel catalyst helps speed up the transesterification reaction to produce biodiesel from triglycerides in a cost effective manner. Different types of catalysts like base catalysts, acid catalysts and metal oxide catalysts are used for biodiesel production.
Market key trends:
Metal oxide catalysts dominated the global biodiesel catalyst market in 2022, accounting for over 35% market share. Metal oxide catalysts such as calcium oxide, sodium oxide and potassium oxide help reduce reaction time and achieve high conversion rates during biodiesel production. Moreover, metal oxide catalysts can be reused multiple times with regeneration, making the biodiesel production process more sustainable and cost effective. Some other key trends include development of heterogeneous solid acid catalysts to overcome limitations of homogeneous catalysts and focus on production of drop-in advanced biofuels through catalytic processes that are compatible with existing infrastructure.
Market key trends:
Biodiesel catalyst market is experiencing significant growth driven by one key trend- the growing demand for clean and renewable sources of energy to reduce dependence on fossil fuels. Biodiesel is emerging as a sustainable alternative to conventional petroleum diesel and many countries across the globe have mandated the blending of biodiesel with conventional diesel to reduce emissions. This growing demand for biodiesel is positively impacting the catalyst market as catalysts play a vital role in achieving high conversion yield during biodiesel production.
SWOT Analysis
Strength: Biodiesel has lower emissions compared to fossil fuels and its use helps reduce air and noise pollution.
Weakness: High production cost of biodiesel compared to conventional diesel.
Opportunity: Stringent emission norms and favorable government policies promoting renewable fuels present an opportunity.
Threats: Availability of raw materials for biodiesel production and technological challenges in commercial scale production.
Key Takeaways
The global biodiesel catalyst market size was valued at US$ 231.5 Mn in 2023 and is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing mandate for biodiesel blending across various geographies.
Regionally, Europe dominated the global biodiesel catalyst market in 2023 owing to stringent vehicular emission norms and policies supporting the use of biodiesel as an alternative fuel in the region. Key players such as 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.).
Key players operating in the biodiesel catalyst market are 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.).
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
