(MENAFN- GetNews) ![]( "North America <a target=")
renewable Diesel Market
" Browse="" 72="" market="" data="" Tables="" and="" 35="" Figures="" spread="" through="" 124="" Pages="" and="" in-depth="" TOC="" on="" "North="" America="" Renewable="" Diesel="" Market""The="" North="" America="" Renewable="" Diesel="" market="" is="" expanding="" rapidly,="" driven="" by="" stringent="" emission="" regulations="" and="" increasing="" demand="" for="" sustainable="" fuels.="" The="" U.S.="" leads="" with="" major="" investments="" in="" production="" capacity.="" The="" market="" benefits="" from="" strong="" government="" support="" and="" the="" push="" for="" carbon="" />
The
North American renewable diesel market
size is projected to grow from USD 12.9 Billion in 2022 to USD 49.1 Billion by 2044, at a CAGR of 7.1% during the forecast year. Renewable diesel is a transportation fuel that is derived from biomass like fats, oils, and grease. It has a similar chemical composition to petroleum diesel. It can be used as a drop-in fuel for existing engines. It also meets the D975 fuel quality standards. Different feedstocks can be used in its production, such as waste oils which include tallow, fish oil, used cooking oil, and vegetable oils, which include canola oil, soyabean oil, and sunflower oil. Renewable diesel can be used as drop-in fuel or can also be blended with petroleum and biodiesel as well.
Download PDF Brochure:
The major applications of renewable diesel include transportation and automobile fleet operations, industrial, and green mobility. Sustainable aviation fuel (SAF) is also made in the same infrastructure by applying a different technological process.
The Renewable diesel Market has been segmented based on feedstock i.e., waste oils and vegetable oils.
Tallow, used cooking oil, fish oil, lard, and poultry are considered under the waste oil segment. The vegetable oil segment includes corn oil, canola oil/rapeseed, soyabean oil, sunflower oil, and palm oil. The main forces behind the growth of the Renewable diesel market are increasing focus on reducing carbon emissions, tax credits by governments and investments in renewable energy.
Request Sample Pages:
The Renewable diesel Market
is studied for North American region. North America is the largest renewable diesel market globally, with the US being the dominant market in the region, with a share of 99%, in terms of volume, in 2021. Growth during the forecasted period is expected to be driven by the growing concerns related to fossil fuel depletion, as well as the necessity to include renewable energy sources in the energy mix for long-term growth. The growth is led by increasing demand for Renewable diesel from various industries, including fleet operators, aviation, and transportation.
Some of the leading companies involved in North American Renewable diesel manufacturing are Neste OYJ (Finland), Chevron Renewable Energy Group (U.S.), PBF Energy Inc. (U.S.), Valero Energy Corporation (U.S.), Gevo, Inc. (U.S.) and others are covered in the renewable diesels market. These companies, along with other regional companies, cater to the demand for Renewable diesel.
Inquire Now:
About MarketsandMarkets
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes , as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
MENAFN03092024003238003268ID1108633294
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.