Report: 12 billion gallons of biodiesel by 2020
The German biodiesel market is facing a bleak outlook due to the imposition of taxes that have made biofuels too expensive for its consumers. Though the country is the largest producer of biodiesel in Europe, the future for the market looks weak, GlobalData's report states, mainly because of taxes the German government has imposed on green fuels. Another factor that has contributed to the negative outlook of the German biodiesel market is the generous export subsidies received by the U.S. producers. The EU has now imposed an import tariff on US biodiesel imports to protect the European market. The country has reduced the blending target to 6.3 percent in 2010 from 6.8 percent as set out previously in the plan to cut carbon dioxide emissions, although the specific blending mandates for biodiesel will remain unchanged until 2014.
China has become the world's largest automotive market, surpassing the U.S. in terms of units sold. This, along with China's concern for energy security, has led to increased government interest in developing an alternative fuel vehicle market. In 2009, the government of China provided a 10 billion yuan ($1.5 billion) subsidy for three years to automakers who upgrade their technology and develop alternative fuel vehicles, states GlobalData's report. This stimulus package will result in rising activity in the Chinese biofuels sector.
"Global Biodiesel Market Analysis and Forecasts to 2020" analyzes the global biodiesel market and provides forecasts up to 2020. The research analyzes key trends, major issues and growth opportunities in the global biodiesel market. Market share by production capacity, elaborate profiling of major industry participants and information on major present and upcoming production facilities provide insight into the competitive scenario of the global biodiesel industry. This, coupled with information on