Remaining cooking oil, animal and vegetable fats, and other renewable resources are used to make clean-burning, sustainable diesel. Unlike biodiesel, it undergoes a hydrogenation process that makes it chemically identical to petroleum diesel, allowing it to be used in diesel engines that are currently in operation without requiring any modifications. It satisfies the same ASTM D975 standard as ordinary diesel, ensuring compatibility and performance. Renewable diesel significantly reduces greenhouse gas emissions and particulate matter, which results in cleaner air and a lesser environmental impact. It is increasingly being employed in the transportation sector, especially in areas like haulage and public transit where reducing carbon footprints is a major priority.

According to SPER market research, ‘Global Renewable Diesel Market Size- By Feedstock, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Renewable Diesel Market is estimated to reach USD 51.34 billion by 2034 with a CAGR of 8.36%.

Drivers:

The market for renewable diesel is growing quickly as a result of more global efforts to reduce greenhouse gas emissions and move to cleaner fuels. The government is encouraging the adoption of low-carbon fuel alternatives through programs like the Renewable Fuel Standard (RFS) in the US and the Green Deal in Europe. As the need for renewable diesel grows in the transportation industry, especially for heavy-duty vehicles and public fleets, its use is growing since it is compatible with existing diesel engines. Energy companies are also investing in renewable diesel production to support energy security and environmental goals as a result of investor pressure on environmental responsibility and a rise in corporate sustainability commitments.

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Restraints:

Despite its environmental benefits, the market for renewable diesel faces several challenges. The high price and scarcity of sustainable feedstocks, like vegetable oils, animal fats, and used cooking oil, are among the main obstacles. Variability in feedstock prices can cause variations in production costs, which can affect profitability and scalability. Additionally, the production of renewable diesel requires costly and complex refining processes, which may deter new rivals. The lack of uniform worldwide regulations and regulatory ambiguity could expose investors to dangers. The competition from other alternative fuels, such biodiesel and electric mobility options, further complicates the business climate for producers of renewable diesel.

North America dominates the global renewable diesel market due to strong policy support, advanced refining infrastructure, and major investments by key energy companies. Some of the key market players are BP, Chevron, Diamond Green Diesel, Eni, Gevo and others.

For More Information, refer to below link –

Renewable Diesel Market Share

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