Lucintel expects global biodiesel market to hit USD 64bn by 2017

Mar 8, 2012 - The worldwide biodiesel market is to expand at a compound annual growth (CAGR) rate of 19% in the next five years to some USD 64 billion (EUR 48.3bn) in value by 2017, according to a report by market research firm Lucintel.

The report, Growth Opportunities in the Global Biodiesel Market 2012-2017: Trends, Forecasts, and Market Share Analysis, notes that ethanol is expected to account for the bigger part of total biofuel production, while demand for biodiesel is forecast to more than double compared to 2011.

Biodiesel supply and demand are projected to surge in the Rest of the World (ROW) and Asia Pacific (APAC) regions, besides Europe, thanks to public policy support. APAC is seen to have the highest growth rate in biodiesel production on the back of its population density and fast growing automotive markets. The European Union would have the highest revenue value in the biodiesel market in 2017, according to the report.

(USD 1 = EUR 0.754)

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