According to ChemAnalyst report, “Global Biodiesel Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global biodiesel market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 6.75% during the forecast period.

Lower performance as compared to fossil fuel and corrosion related problems are expected to hinder demand growth during the forecast period.Get more info: https://www.chemanalyst.com/industry-report/biodiesel-market-570Biodiesel is a type of fuel made from bio-based resources such as vegetable oil and animal fat.

It can be used in existing diesel engines without modification.

Biodiesel is produced via transesterification whereby glycerin is separated from animal fat or vegetable oil leaving behind methyl esters and glycerin.

Various automotive companies are incentivizing the usage of biofuel by giving extended warranty.

Hence, the price is directly linked to the fluctuations in the prices of vegetable oil and animal fat.