Biodiesel Reactor Market: Introduction
- Industrialization and urbanization have increased significantly across the glove over the last decade. This has boosted the demand for energy. According to an International Energy Agency report published in 2018, the demand for energy is expected to double by in 2030.
- Biodiesel is a safe and clean substitute for fossil fuel, as it is produced by the chemical process of vegetable oil or animal fat with alcohols such as methanol or ethanol. This chemical process takes place in the biodiesel reactor. Companies are investing significantly in R&D in the biodiesel sector to increase the production capacity and productivity of biodiesel reactors.
Key Drivers and Restraints of Global Biodiesel Reactor Market
- Rise in industrialization and urbanization across the globe is estimated to be a key driver of the biodiesel reactor market. Demand for energy has been increasing significantly across the world since the last few years. As a result, companies are seeking new energy sources. Biodiesel has gained significant traction of late. This is expected to drive the global biodiesel reactor market during the forecast period.
- Rise in concerns about global warming and carbon emissions has compelled governments across the globe to enact stringent rules and regulations to minimize carbon emissions. This has encouraged companies to focus on better, cleaner, and cheaper fuels such as biodiesel. Thus, increase in concerns about global warming and carbon emission and implementation of stringent rules and regulations by governments are anticipated to drive the global biodiesel reactor market.
- Lack of availability of feedstock is anticipated to restrain the biodiesel reactor market during the forecast period. Production of feedstock depends on the agriculture produce. Extreme weather conditions adversely affect agriculture production. This is estimated to hamper the supply of feedstock. Thus, unavailability of feedstock is key factor restraining the global biodiesel reactor market.
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Global Biodiesel Reactor Market: Segmentation
- The global biodiesel reactor market can be segmented based on feedstock, type, oil extraction method, and region
- In terms of feedstock, the global biodiesel reactor market can be classified into soybean oil, distiller’s corn oil, canola oil, yellow grease, and animal fat. Soybean oil is one of the dominant feedstock for biodiesel. The dominance of the soybean oil segment is expected to continue during the forecast period. Soybean oil has lower price and better stability. As a result, demand for soybean oil is high in the market.
- Based on type, the global biodiesel reactor market can be classified into batch reactors, semi-continuous flow reactors, and continuous-flow reactors. The batch reactors segment is estimated to expand at a significant CAGR, owing to the lower initial cost and infrastructure investment.
- In terms of oil extraction method, the global biodiesel reactor market can be divided into screw press, hydraulic press, and microwave hydro diffusion. The screw press segment is projected to expand at a fast-paced CAGR during the forecast period, as the method is simple and reliable. It is also easy to maintain and has reduced landfill cost.
Global Biodiesel Reactor Market: Regional Segmentation
- Based on region, the global biodiesel reactor market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global biodiesel reactor market in 2019. The market in the region is projected to expand during the forecast period, owing to the rise in demand for green fuel.
- The market in North America is likely to expand significantly during the forecast period owing to the rapid increase in infrastructure and growth in industrialization in the U.S. and Canada
- Europe is estimated to be a key region of the global biodiesel reactor market in the near future. Significant number of projects are being undertaken by various countries in the region, such as Germany, U.K., Italy, and France, to reduce the emission of greenhouse gases.
- The biodiesel reactor market in Latin America and Middle East & Africa is anticipated to expand at a steady pace during the forecast period. Increase in investments in the production of bio-based energy in developing counties is expected to drive the biodiesel reactors market in these regions during the forecast period.
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Key Players in Market
- Finepac Structures Pvt. Ltd.
- Mectech Process Engineers Pvt. Ltd.
- SRS International
- Green Fuels Ltd
- Pacific Biodiesel
- Crown Iron Works
- Targray Technology International
Global Biodiesel Reactor Market: Research Scope
Global Biodiesel Reactor Market, by Feedstock
- Soybean Oil
- Distiller’s Corn Oil
- Canola Oil
- Yellow Grease
- Animal Fats
Global Biodiesel Reactor Market, by Type
- Batch Reactors
- Semi-continuous Flow Reactors
- Continuous Flow Reactors
Global Biodiesel Reactor Market, by Oil Extraction Method
- Screw Press
- Hydraulic Press
- Microwave Hydro Diffusion
The Global Biodiesel Reactor Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa