Green Fleet

U.S. Could Become Largest Biodiesel Market by 2012

October 15, 2008

CALIFORNIA – California-based SRI Consulting, a business research service for the global chemical industry, released its global 2008 Biodiesel report on Sept. 30, according to Biodiesel Magazine.

According to the report, the United States is currently positioned to become the largest biodiesel market in the world by 2012, consuming nearly 19 percent of the world’s biodiesel supply. Additionally, the report states that the global biodiesel industry grew 50 percent between 2002 and 2007, and is positioned to grow 30 percent between 2007 and 2012.

SRI’s biodiesel report is designed to provide comprehensive timely information on the biodiesel industry and global industry trends. According to SRI spokeswoman Susan Wright, the report is typically updated every three years. However, due to the proliferation of changes in the marketplace, this update has been issued after only two years.

The report projects a slower rate of growth for the industry over the next several years due to several factors, including the fuel versus food debate and the rising costs of feedstocks. Changing regulatory environments, the slowdown of the global economy and the current financial crisis are also expected to contribute to a slower growth rate.

The report also demonstrated a shift in global biodiesel patterns. Five years ago Europe was the dominant player, with 83 percent of the capacity. By 2007, the European share had dropped to approximately 46 percent as North American and Asian production grew.

In addition, the report covers the supply and demand of biodiesel in North America, Central and South America, Europe, Asia, Africa, the Middle East, and Oceania. It also provides in-depth coverage on supply and demand, legislation, feedstock production technologies, as well as environmental and agricultural issues for more than 75 countries. The report detailed 19 years of historical data and five years of projected supply and demand figures on a country by country basis.

 

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