Favorable Regulations Will Continue to Fuel China Biodiesel Market
Albany, NY (PRWEB) February 17, 2015 -- According to the report, the global biodiesel output grew at a rapid pace from2006 to 2013. The global biodiesel output in 2006 was recorded at 6.5 billion liters and grew to 24.6 billion liters in the year 2013, with a 20.9% CAGR.
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Global and China Biodiesel Market Highlights
However, minor changes were observed in the global distribution of biodiesel production. The distribution pattern showed that the concentration was denser in Europe, the United States, Brazil, Argentina, etc. The historic data explains that the world’s ten largest producers of biodiesel contributed around 75% of the total global production. According to UNESCO, more than one third of the production of maize in the U.S. in 2008 was diverted to produce ethanol; and around half of the vegetable oils produced in the European Union were used for biodiesel fuel production. Total global biodiesel production is anticipated to reach 24 billion liters by 2017.
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On the other hand, the development of the biodiesel market began late in China. However, it quickly became one of the industries vigorously supported by the Chinese government. In China, the Renewable Energy Law was introduced in 2005, which contributed to the overall growth of the China biodiesel market. This law focuses on provisional measures for administration of special capital on developing renewable energy resources. The law also states there should be a notice on consumption tax exemption related to pure biodiesel made from waste vegetable oil or animal fat. In addition, the introduction of this law, in the opinion of the general office of the state council, strengthened gutter oil regulation and kitchen waste management.
In 2010, National Standard for Biodiesel (B5) Blend was released in China. The total capacity of the China biodiesel market exceeded 3.7 million t/a, output attained 1-1.2 million t/a. This indicated that the capacity utilization of biodiesel was not as high. With Implementation of National Standard for Biodiesel (B5) Blend along with the expansion of the application range, it is expected that China’s consumption of biodiesel for the period of 2014-2017 will exceed 2.5 million tons. Even after the formal implementation of consumption tax for biodiesel imports with other supporting policies, many biodiesel projects are approved but are still under construction in China. Till the end of May 2014, many major biodiesel projects, proposed and under construction, boasted a combined capacity of over 2.7 million t/a.
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The research report provides a detailed analysis of key enterprises in the China biodiesel market. The company’s profile, operation, revenue structure, biodiesel business, and forecast and outlook are presented in the report. Some of the prominent players in the China biodiesel market include PetroChina, Sinopec, Jiangsu Yueda Investment, Ningbo Tech-Bank, Guangzhou Devotion Thermal Technology, and Xinjiang International Industry.
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