Biodiesel Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2023-20
The Biodiesel market will likely grow at a promising CAGR of 10.0% during the forecast period. Biodiesel is a renewable, clean-burning diesel substitute that can be used in existing diesel engines without the need for changes. It is made up of an expanding range of recycled cooking oils, animal fats, and agricultural feedstock. The market is expected to increase as a result of rising demand for biodiesel to replace conventional fossil fuels in power generation and automotive applications. The market is very fragmented because there are so many suppliers and dealers.