Report forecasts a decade of explosive growth for biodiesel

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Report forecasts a decade of explosive growth for biodiesel

Posted by Giles Clark, London, 30 January 2007

The global market for biodiesel is poised for explosive growth in the next ten years according to a report, 'Biodiesel 2020: A Global Market Survey', released by the energy intelligence agency Emerging Markets Online. "Although Europe currently represents 90% of global biodiesel consumption and production, the U.S. is now ramping up production at a faster rate than Europe, and Brazil is expected to surpass U.S. and Europe by the year 2015," says William Thurmond, the report's author.

Excerpts:

1. Biodiesel is a natural fit in Europe, Asia and Brazil where diesel fuel is more common than in the U.S. "It is possible that Biodiesel could represent as much as 20% of all on-road diesel used in Brazil, Europe, China and India by the year 2020..."

2. Currently, the U.S. is the fastest growing biodiesel market in the world. Demand for biodiesel in the U.S. has grown so fast in 2006 that the seventy major biodiesel plants are barely able to keep up. To meet this demand, over fifty new, larger-scale plants are in construction.

3. In Europe, biodiesel represents 2% of total on-road fuel consumption and is expected to reach 6% by 2010.

4. The survey finds that by the year 2020, Brazil is expected to produce the largest volume of biodiesel in the world; and China could eventually become the largest consumer of biodiesel in the world, surpassing Europe and the U.S. by 2020.

Full news report here

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