Biofuels to drive the growth of Biodiesel Catalyst Market

 

Biodiesel Catalyst Market

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 diesel fuel made from renewable resources like vegetable oils, animal fats, and waste cooking oil. It contains no petroleum but can be used just like regular diesel fuel in compression-ignition engines. Biodiesel catalysts are used to expedite the transesterification reaction and produce biodiesel in bulk quantities. Key advantages of use of biodiesel catalyst include reducing reaction time and enabling production of biodiesel at mild reaction conditions.

 

Market key trends:

One of the key trends in the biodiesel catalyst market is the growing demand for heterogeneous catalysts. Heterogeneous catalysts have certain advantages over homogeneous catalysts such as ease of catalyst separation, reusability, and reuse of recovered glycerin by product. The heterogeneous catalysts are suitable for industrial scale biodiesel production and their reuse reduces biodiesel production costs significantly. Some of the commonly used heterogeneous catalysts for biodiesel production include metal oxides such as calcium oxide, zinc oxide and hydrotalcites.

Segment Analysis

The global biodiesel catalyst market is segmented into alkaline catalysts and acid catalysts. The alkaline catalysts segment dominated the market in 2019 with a share of over 87.0%, due to lower costs associated with alkaline catalysts as compared to acid catalysts. Alkaline catalysts provide an attractive alternative to acid catalysts as they allow the transesterification reaction to occur at low temperatures as compared to acid catalysts, which require higher temperatures.

 

Key Takeaways

The global biodiesel catalyst market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing demand for cleaner alternative fuels across the globe.

 

Regional analysis

North America dominated the global biodiesel catalyst market in 2019 and is expected to exhibit a CAGR of over 4.5% during the forecast period. This can be attributed to stringent environmental regulations concerning carbon emissions from vehicles in the US and Canada. Asia Pacific is expected to be the fastest growing region due to expansion of biodiesel production facilities in India and China.

 

Key players analysis

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.). BASF SE commands over 20% share of the global biodiesel catalyst market.

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