Increasing implementation of Biodiesel as Fuel proliferates

Transesterification is a chemical process that used to transform oil and fats into fatty acid methyl esters, which is used to make biodiesel from renewable feedstock such as vegetable oils, animal fats, and other sources. It is then offered to power diesel engines as a fuel. Corn oil, palm oil, canola oil, soybean oil, and jatropha oil are the most frequent biodiesel raw sources.
Because of the low production costs, limited volumes of biodiesel are also used from waste vegetable oil collected from fast food outlets, restaurants, and food manufacturers. Growing crops expressly for biofuel has numerous promises, but current transesterification technology uses waste vegetable oil, which is heavy and need less processing to convert to biodiesel.
Increasing Population Spur the Demand of the Biodiesel Market
The high compatibility of biodiesel with existing diesel engines is another major factor that increases the biodiesel demand over the upcoming years. The increasing population and, as a result, the number of automobiles and other industries that use biodiesel is expected to increase the biodiesel demand.
Due to these factors, the Biodiesel market is estimated to register high growth over the upcoming years, a CAGR of 6.9% to reach US$ 187.6 Bn by 2031.