Renewable Diesel Market Size – By Feedstock (Soybean Oil, Palm Oil, Canola/Rapeseed Oil, Corn Oil, Sunflower Oil, Used Cooking Oil (UCO) and Others), By Production Process (Hydrotreating, Co-Processing in Petroleum Refineries, Thermochemical Processes, Others), By Distribution Channel (Direct Sales and Distributors), By End-use (Automotive, Marine, Aerospace, Power Generation and Others) & Region – Global Forecasts 2024 - 2034.
- PUBLISHED ON
- 2024-11-18
- NO OF PAGES
- 275
- CATEGORY
- Energy & Power
Market Overview
The Renewable Diesel market report is predicted to develop at a compound annual growth rate (CAGR) of 16.8% from 2024 to 2034, when global Renewable Diesel market forecast size is projected to reach USD 12.86 Billion in 2034, based on an average growth pattern. The global Renewable Diesel market revenue is estimated to reach a value of USD 3.92 Billion in 2024.
SOURCE: We Market Research
The Global
Renewable Diesel Market is experiencing rapid growth driven by increased demand
for low-carbon and sustainable fuel alternatives. Renewable diesel, chemically
similar to conventional diesel, is produced from various feedstocks such as
vegetable oils, animal fats, used cooking oils, and other waste materials.
Unlike biodiesel, it can be used directly in existing diesel engines and fuel
infrastructure without modifications, making it a highly versatile fuel source
for reducing greenhouse gas emissions.
The Global
Renewable Diesel Market refers to the industry segment focused on the
production, distribution, and utilization of renewable diesel—a high-quality,
drop-in alternative fuel made from renewable resources such as vegetable oils,
animal fats, used cooking oils, and other waste and residual feedstocks.
Renewable diesel is chemically identical to petroleum diesel and can be used in
existing diesel engines and infrastructure without modification, unlike
biodiesel, making it a versatile solution for reducing greenhouse gas emissions
in transportation and other sectors. This market encompasses all activities
related to feedstock sourcing, refining processes (such as hydrotreating),
production technologies, and end-use applications in sectors like automotive,
aviation, and industrial power generation.
Global Renewable Diesel Market Scope
|
Report Attributes |
Description |
|
Market Size in 2024 |
USD 3.92 Billion |
|
Market
Forecast in 2034 |
USD 12.76 Billion |
|
CAGR % 2024-2034 |
16.8% |
|
Base
Year |
2023 |
|
Historic Data |
2019-2023 |
|
Forecast
Period |
2024-2034 |
|
Report USP
|
Production,
Consumption, company share, company heatmap, company production capacity,
growth factors and more |
|
Segments
Covered |
By Feedstock,
By Production Process, By Distribution Channel, By End-Use and By Region |
|
Regional Scope |
North America,
Europe, APAC, South America and Middle East and Africa |
|
Country
Scope |
U.S.; Canada;
U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia;
China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico;
Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Market Dynamics & Restraints
Global Renewable Diesel Market Opportunity:
We Market
Research: Dashboard
Our marketing platform offers a comprehensive dashboard that provides clients with valuable insights into global Renewable Diesel market trends over the years. Included below is a sample image of our dashboard, and specific PDF logins will be furnished to grant access to this insightful tool.
Renewable Diesel Market Segmentation
Market- By Feedstock Analysis
By feedstock, the Renewable Diesel market analysis is categories into Soybean Oil, Palm Oil, Canola/Rapeseed Oil, Corn Oil, Sunflower Oil, Used Cooking Oil (UCO) and others. Soybean Oil segment dominates the market with the largest share, accounting for over 30% of the market in 2023. Soybean oil is one of the most widely used feedstocks for renewable diesel production, especially in North America, where it is abundant and relatively cost-effective. It is also a key feedstock for biodiesel production in addition to renewable diesel.
The
following segments are part of an in-depth analysis of the global Renewable
Diesel market:
|
Market Segments |
|
|
By Feedstock |
·
Soybean Oil ·
Palm Oil ·
Canola/Rapeseed Oil ·
Corn Oil ·
Sunflower Oil ·
Used Cooking Oil (UCO) ·
Others |
|
By Production
Process |
·
Hydrotreating ·
Co-Processing in Petroleum Refineries ·
Thermochemical Processes ·
Others |
|
By Distribution
Channel |
·
Direct Sales ·
Distributors |
|
By
End-use |
·
Automotive ·
Marine ·
Aerospace ·
Power Generation ·
Others |
North America Market Forecast
North America holds the largest share around 45% of the global Renewable Diesel market. North America, particularly the United States, is the largest market for renewable diesel due to strong government support through policies like the Renewable Fuel Standard (RFS), Low Carbon Fuel Standards (LCFS), and tax credits such as the Biodiesel Mixture Excise Tax Credit (MTEC). These programs incentivize the production and use of renewable diesel, helping to meet emissions reduction targets in the transportation sector. The U.S. is the world’s largest producer of renewable diesel, with major players like Neste, Diamond Green Diesel, and Marathon Petroleum investing heavily in production capacity expansion. California leads the U.S. in renewable diesel adoption, driven by its LCFS program, which mandates a reduction in the carbon intensity of transportation fuels.
Europe Market Statistics
Europe is a key player in the renewable diesel market, driven by stringent sustainability goals under the EU Green Deal and Fit for 55 initiatives. The European Union has committed to reducing carbon emissions by 55% by 2030, and renewable diesel is seen as a critical solution to achieving these goals in the transportation sector. Countries like the Netherlands, France, and Sweden have set ambitious targets for biofuels and renewable energy, leading to high adoption of renewable diesel. European markets are increasingly shifting towards renewable diesel produced from sustainable feedstocks like rapeseed oil, sunflower oil, and waste oils.
Asia Pacific Market Forecasts
The Asia Pacific
region is emerging as a potential growth area for renewable diesel due to
increasing urbanization, industrialization, and government interest in reducing
carbon emissions. However, the region is still relatively nascent in terms of
renewable diesel adoption compared to North America and Europe. Japan, South
Korea, and China are showing interest in renewable diesel as part of their
broader push to reduce greenhouse gas emissions. In China, renewable diesel is
seen as a complement to the growing electric vehicle (EV) infrastructure.
Middle East & Africa Market Statistics
The MEA region
is in the early stages of renewable diesel adoption, with limited production
capacity and infrastructure in place. However, there is growing interest in
cleaner fuels as countries seek to diversify their energy mix and improve air
quality. Countries in the Gulf Cooperation Council (GCC), such as Saudi Arabia,
have introduced ambitious plans to reduce emissions as part of their Vision
2030 strategies. While the primary focus is on hydrogen and solar energy,
renewable diesel could play a role in decarbonizing the transportation sector.
Latin America Market Statistics
Latin America is
an emerging market for renewable diesel, particularly in countries like Brazil,
which already leads the region in biofuels, especially ethanol. Renewable
diesel is being explored as an additional low-carbon fuel for the region's
transportation sector. Brazil has strong biofuel mandates (e.g., RenovaBio) and
is focusing on increasing the use of renewable diesel to complement its ethanol
program.
Key Market Players
The Global Renewable Diesel Market is dominated by a
few large companies, such as
·
Neste Corporation
·
Renewable Energy Group, Inc. (REG)
·
Diamond Green Diesel LLC
·
Marathon Petroleum Corporation
·
Phillips 66 Company
·
TotalEnergies
·
Preem AB
·
Eni S.p.A.
·
Shell Plc
·
World Energy, LLC
·
BP (British Petroleum)
·
Par Pacific Holdings, Inc.
·
Petrobras (Petróleo Brasileiro
S.A.)
·
Repsol S.A.
·
Cargill, Incorporated
·
Others
1.
Global
Renewable Diesel Market Introduction and Market Overview
1.1. Objectives of the Study
1.2. Global Renewable Diesel Market
Scope and Market Estimation
1.2.1. Global Renewable Diesel Overall
Market Size (US$ Bn) and Volume (Tons), Market CAGR (%), Market forecast (2024
- 2034)
1.2.2. Global Renewable Diesel Market
Revenue Share (%) and Volume Share (%) and Growth Rate (Y-o-Y) from 2019 - 2034
1.3. Market Segmentation
1.3.1. Feedstock of Global Renewable
Diesel Market
1.3.2. Production Process of Global Renewable
Diesel Market
1.3.3. Distribution Channel of Global Renewable
Diesel Market
1.3.4. End-use of Global Renewable
Diesel Market
1.3.5. Region of Global Renewable
Diesel Market
2.
Executive Summary
2.1. Demand Side Trends
2.2. Key Market Trends
2.3. Market Demand (US$ Bn) Analysis
2019 – 2023 and Forecast, 2024 – 2034
2.4. Demand and Opportunity
Assessment
2.5. Market Dynamics
2.5.1. Drivers
2.5.2. Limitations
2.5.3. Opportunities
2.5.4. Impact Analysis of Drivers and
Restraints
2.6. Key Developments
2.7. Porter’s Five Forces Analysis
2.7.1. Bargaining Power of Suppliers
2.7.2. Bargaining Power of Buyers
2.7.3. Threat of Substitutes
2.7.4. Threat of New Entrants
2.7.5. Competitive Rivalry
2.8. PEST Analysis
2.8.1. Political Factors
2.8.2. Economic Factors
2.8.3. Social Factors
2.8.4. Technology Factors
2.9. Key Regulation
3.
Global Renewable Diesel Market Estimates & Historical Trend Analysis (2019 - 2023)
4. Global
Renewable Diesel Market Estimates &
Forecast Trend Analysis, by Feedstock
4.1. Global Renewable Diesel Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecast, by Feedstock, 2019 -
2034
4.1.1. Soybean Oil
4.1.2. Palm Oil
4.1.3. Canola/Rapeseed Oil
4.1.4. Corn Oil
4.1.5. Sunflower Oil
4.1.6. Used Cooking Oil (UCO)
4.1.7. Others
5. Global
Renewable Diesel Market Estimates &
Forecast Trend Analysis, by Production Process
5.1. Global Renewable Diesel Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Production
Process, 2019 - 2034
5.1.1. Hydrotreating
5.1.2. Co-Processing in Petroleum
Refineries
5.1.3. Thermochemical Processes
5.1.4. Others
6. Global
Renewable Diesel Market Estimates &
Forecast Trend Analysis, by Distribution Channel
6.1. Global Renewable Diesel Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Distribution
Channel, 2019 - 2034
6.1.1. Direct Sales
6.1.2. Distributors
7. Global
Renewable Diesel Market Estimates &
Forecast Trend Analysis, by End-use
7.1. Global Renewable Diesel Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by End-use, 2019 -
2034
7.1.1. Automotive
7.1.2. Marine
7.1.3. Aerospace
7.1.4. Power Generation
7.1.5. Others
8.
Global Renewable Diesel Market Estimates & Forecast Trend Analysis,
by Region
8.1. Global Renewable Diesel Market
Revenue (US$ Bn) and Volume (Tons) Estimates and Forecasts, by Region, 2019 -
2034
8.1.1. North America
8.1.2. Eastern Europe
8.1.3. Western Europe
8.1.4. Asia Pacific
8.1.5. Middle East & Africa
8.1.6. Latin America
9.
North
America Renewable Diesel Market: Estimates & Forecast Trend Analysis
9.1.
North
America Renewable Diesel Market Assessments & Key Findings
9.1.1. North America Renewable Diesel
Market Introduction
9.1.2. North America Renewable Diesel
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
9.1.2.1. By Feedstock
9.1.2.2. By Production
Process
9.1.2.3. By Distribution
Channel
9.1.2.4. By End-use
9.1.2.5. By Country
9.1.2.5.1. The U.S.
9.1.2.5.2. Canada
9.1.2.5.3. Mexico
10. Western Europe Renewable
Diesel Market: Estimates & Forecast
Trend Analysis
10.1. Western Europe Renewable Diesel
Market Assessments & Key Findings
10.1.1. Western Europe Renewable Diesel
Market Introduction
10.1.2. Western Europe Renewable Diesel
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
10.1.2.1. By Feedstock
10.1.2.2. By Production
Process
10.1.2.3. By Distribution
Channel
10.1.2.4. By End-use
10.1.2.5. By Country
10.1.2.5.1.
Germany
10.1.2.5.2.
Italy
10.1.2.5.3.
U.K.
10.1.2.5.4.
France
10.1.2.5.5.
Spain
10.1.2.5.6.
Benelux
10.1.2.5.7.
Nordics
10.1.2.5.8. Rest
of W. Europe
11. Eastern Europe Renewable
Diesel Market: Estimates & Forecast
Trend Analysis
11.1. Eastern Europe Renewable Diesel
Market Assessments & Key Findings
11.1.1. Eastern Europe Renewable Diesel
Market Introduction
11.1.2. Eastern Europe Renewable Diesel
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
11.1.2.1. By Feedstock
11.1.2.2. By Production
Process
11.1.2.3. By Distribution
Channel
11.1.2.4. By End-use
11.1.2.5. By Country
11.1.2.5.1.
Russia
11.1.2.5.2.
Hungary
11.1.2.5.3.
Poland
11.1.2.5.4.
Balkan & Baltics
11.1.2.5.5. Rest of E. Europe
12. Asia Pacific Renewable
Diesel Market: Estimates & Forecast
Trend Analysis
12.1. Asia Pacific Market Assessments
& Key Findings
12.1.1. Asia Pacific Renewable Diesel
Market Introduction
12.1.2. Asia Pacific Renewable Diesel
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
12.1.2.1. By Feedstock
12.1.2.2. By Production
Process
12.1.2.3. By Distribution
Channel
12.1.2.4. By End-use
12.1.2.5. By Country
12.1.2.5.1. China
12.1.2.5.2. Japan
12.1.2.5.3. India
12.1.2.5.4. Australia & New Zealand
12.1.2.5.5. South Korea
12.1.2.5.6. ASEAN
12.1.2.5.7. Rest of Asia Pacific
13. Middle East & Africa Renewable
Diesel Market: Estimates & Forecast
Trend Analysis
13.1. Middle East & Africa Market
Assessments & Key Findings
13.1.1. Middle
East & Africa Renewable
Diesel Market Introduction
13.1.2. Middle
East & Africa Renewable
Diesel Market Size & Volume Estimates and Forecast (US$ Billion & Tons)
(2019 - 2034)
13.1.2.1. By Feedstock
13.1.2.2. By Production
Process
13.1.2.3. By Distribution
Channel
13.1.2.4. By End-use
13.1.2.5. By Country
13.1.2.5.1. UAE
13.1.2.5.2. Saudi
Arabia
13.1.2.5.3. Turkey
13.1.2.5.4. South
Africa
13.1.2.5.5. Rest of
MEA
14. Latin America
Renewable Diesel Market: Estimates
& Forecast Trend Analysis
14.1. Latin America Market Assessments
& Key Findings
14.1.1. Latin America Renewable Diesel
Market Introduction
14.1.2. Latin America Renewable Diesel
Market Size & Volume Estimates and Forecast (US$ Billion & Tons) (2019
- 2034)
14.1.2.1. By Feedstock
14.1.2.2. By Production
Process
14.1.2.3. By Distribution
Channel
14.1.2.4. By End-use
14.1.2.5. By Country
14.1.2.5.1. Brazil
14.1.2.5.2. Argentina
14.1.2.5.3. Colombia
14.1.2.5.4. Rest of
LATAM
15. Country Wise Market:
Introduction
16. Competition Landscape
16.1. Global Renewable Diesel Market Product
Mapping
16.2. Global Renewable Diesel Market
Concentration Analysis, by Leading Players / Innovators / Emerging Players /
New Entrants
16.3. Global Renewable Diesel Market Tier
Structure Analysis
16.4. Global Renewable Diesel Market
Concentration & Company Market Shares (%) Analysis, 2023
17. Company Profiles
17.1. Neste
Corporation
17.1.1. Company Overview & Key Stats
17.1.2. Financial Performance & KPIs
17.1.3. Product Portfolio
17.1.4. SWOT Analysis
17.1.5. Business Strategy & Recent
Developments
Similar details would be provided
for all the players mentioned below
17.2. Renewable
Energy Group, Inc. (REG)
17.3. Diamond Green
Diesel LLC
17.4. Marathon
Petroleum Corporation
17.5. Phillips 66
Company
17.6. TotalEnergies
17.7. Preem AB
17.8. Eni S.p.A.
17.9. Shell Plc
17.10. World Energy,
LLC
17.11. BP (British
Petroleum)
17.12. Par Pacific
Holdings, Inc.
17.13. Petrobras
(Petróleo Brasileiro S.A.)
17.14. Repsol S.A.
17.15. Cargill,
Incorporated
17.16. Others
17.17. Others
18. Research
Methodology
18.1. External Transportations /
Databases
18.2. Internal Proprietary Database
18.3. Primary Research
18.4. Secondary Research
18.5. Assumptions
18.6. Limitations
18.7. Report FAQs
19. Research
Findings & Conclusion
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Frequently Asked Questions
What is the market size of Renewable Diesel Market in 2024?
Renewable Diesel Market was valued at USD 3.92 Billion in 2024.
What is the growth rate for the Renewable Diesel Market?
Renewable Diesel Market size will increase at approximate CAGR of 16.8% during the forecasted period.
Which are the top companies operating within the market?
Major companies operating within the market are Neste Corporation, Renewable Energy Group, Inc. (REG), Diamond Green Diesel LLC, Marathon Petroleum Corporation, Phillips 66 Company, TotalEnergies, Preem AB, Eni S.p.A., Shell Plc and others.
Which region dominates the Renewable Diesel Market?
North America dominates the market with an active share of 45%.
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