Published Year: 2023
Hydrotreated Vegetable Oil Market - A Global and Regional Analysis: Focus on Application, End Users,
The global hydrotreated vegetable oil market is estimated to reach $158.09 billion in 2032...
Market Research Report
A quick peek into the report
Table of Contents
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Hydrotreated Vegetable Oil as Second-Generation Biofuel
1.1.1.2 Hydrotreated Vegetable Oil as a Sustainable Replacement for Fossil Fuels
1.1.2 Supply Chain Analysis
1.1.2.1 Key Startups in the Ecosystem
1.1.3 Ecosystem/Ongoing Programs
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory Bodies
1.1.3.3 Government Programs
1.1.3.4 Programs by Research Institutions and Universities
1.1.4 Key Patent Analysis
1.1.4.1 Key Patent Analysis (by Status)
1.1.4.2 Key Patent Analysis (by Organization)
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Government Regulations toward Low Carbon Emissions
1.2.1.2 Applicability in Existing Energy Infrastructure
1.2.1.3 Increasing Investment in Hydrotreated Vegetable Oil Production
1.2.2 Business Restraints
1.2.2.1 Lower Density and Energy Content than Fossil Fuels
1.2.2.2 Continuous Supply of Renewable Feedstock
1.2.3 Business Strategies
1.2.3.1 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Mergers, Acquisitions, Partnerships, and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Growing Applications of Hydrotreated Vegetable Oil
1.2.5.2 Advancements in Hydrotreated Vegetable Oil Technologies
1.3 Comparison between Hydrotreated Vegetable Oil and other Sustainable Fuels
1.4 Future Raw Materials for Hydrotreated Vegetable Oil
1.5 Production Capacity Analysis
1.6 Supply and Demand Analysis for Hydrotreated Vegetable Oil
2.1 Europe
2.1.1 Market
2.1.1.1 Key Manufacturers/Suppliers in Europe
2.1.1.2 Business Challenges
2.1.1.3 Business Drivers
2.1.2 Application
2.1.2.1 Europe Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.1.2.2 Europe Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.1.3 Product
2.1.3.1 Europe Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.1.3.2 Europe Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.1.4 Europe: Country-Level Analysis
2.1.4.1 The Netherlands
2.1.4.1.1 Market
2.1.4.1.1.1 Buyer Attributes
2.1.4.1.1.2 Key Manufacturers/Suppliers in the Netherlands
2.1.4.1.1.3 Business Challenges
2.1.4.1.1.4 Business Drivers
2.1.4.1.2 Application
2.1.4.1.2.1 The Netherlands Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.1.4.1.2.2 The Netherlands Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.1.4.1.3 Product
2.1.4.1.3.1 The Netherlands Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.1.4.1.3.2 The Netherlands Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.1.4.2 France
2.1.4.2.1 Market
2.1.4.2.1.1 Buyer Attributes
2.1.4.2.1.2 Key Manufacturers/Suppliers in France
2.1.4.2.1.3 Business Challenges
2.1.4.2.1.4 Business Drivers
2.1.4.2.2 Application
2.1.4.2.2.1 France Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.1.4.2.2.2 France Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.1.4.2.3 Product
2.1.4.2.3.1 France Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.1.4.2.3.2 France Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.1.4.3 Italy
2.1.4.3.1 Market
2.1.4.3.1.1 Buyer Attributes
2.1.4.3.1.2 Key Manufacturers/Suppliers in Italy
2.1.4.3.1.3 Business Challenges
2.1.4.3.1.4 Business Drivers
2.1.4.3.2 Application
2.1.4.3.2.1 Italy Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.1.4.3.2.2 Italy Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.1.4.3.3 Product
2.1.4.3.3.1 Italy Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.1.4.3.3.2 Italy Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.1.4.4 Spain
2.1.4.4.1 Market
2.1.4.4.1.1 Buyer Attributes
2.1.4.4.1.2 Key Manufacturers/Suppliers in Spain
2.1.4.4.1.3 Business Challenges
2.1.4.4.1.4 Business Drivers
2.1.4.4.2 Application
2.1.4.4.2.1 Spain Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.1.4.4.2.2 Spain Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.1.4.4.3 Product
2.1.4.4.3.1 Spain Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.1.4.4.3.2 Spain Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.1.4.5 Rest-of-Europe
2.1.4.5.1 Market
2.1.4.5.1.1 Buyer Attributes
2.1.4.5.1.2 Key Manufacturers/Suppliers in Rest-of-Europe
2.1.4.5.1.3 Business Challenges
2.1.4.5.1.4 Business Drivers
2.1.4.5.2 Application
2.1.4.5.2.1 Rest-of-Europe Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.1.4.5.2.2 Rest-of-Europe Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.1.4.5.3 Product
2.1.4.5.3.1 Rest-of-Europe Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.1.4.5.3.2 Rest-of-Europe Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
2.2 U.K.
2.2.1 Market
2.2.1.1 Buyer Attributes
2.2.1.2 Key Manufacturers/Suppliers in the U.K.
2.2.1.3 Business Challenges
2.2.1.4 Business Drivers
2.2.2 Application
2.2.2.1 U.K. Hydrotreated Vegetable Oil Market (by Application), Volume and Value Data
2.2.2.2 U.K. Hydrotreated Vegetable Oil Market (by End Users), Volume and Value Data
2.2.3 Product
2.2.3.1 U.K. Hydrotreated Vegetable Oil Market (by Feedstock Type), Volume and Value Data
2.2.3.2 U.K. Hydrotreated Vegetable Oil Market (by Technology Type), Volume and Value Data
3.1 Competitive Benchmarking
3.2 Market Share Analysis
3.3 Company Profiles
3.3.1 Eni S.p.A.
3.3.1.1 Company Overview
3.3.1.1.1 Role of Eni S.p.A. in the Hydrotreated Vegetable Oil Market
3.3.1.1.2 Product Portfolio
3.3.1.2 Business Strategies
3.3.1.2.1 Market Developments
3.3.1.3 Corporate Strategies
3.3.1.3.1 Mergers, Acquisitions, Partnerships, and Joint Ventures
3.3.1.4 R&D Analysis
3.3.1.5 Analyst View
3.3.2 St1 Oy
3.3.2.1 Company Overview
3.3.2.1.1 Role of St1 Oy in the Hydrotreated Vegetable Oil Market
3.3.2.1.2 Product Portfolio
3.3.2.2 Business Strategies
3.3.2.2.1 Market Developments
3.3.2.3 Corporate Strategies
3.3.2.3.1 Mergers, Acquisitions, Partnerships, and Joint Ventures
3.3.2.4 Analyst View
3.3.3 Neste
3.3.3.1 Company Overview
3.3.3.1.1 Role of Neste in the Hydrotreated Vegetable Oil Market
3.3.3.1.2 Product Portfolio
3.3.3.2 Business Strategies
3.3.3.2.1 Market Developments
3.3.3.3 Corporate Strategies
3.3.3.3.1 Mergers, Acquisitions, Partnerships, and Joint Ventures
3.3.3.4 R&D Analysis
3.3.3.5 Analyst View
3.3.4 Repsol
3.3.4.1 Company Overview
3.3.4.1.1 Role of Repsol in the Hydrotreated Vegetable Oil Market
3.3.4.1.2 Product Portfolio
3.3.4.2 Business Strategies
3.3.4.2.1 Market Developments
3.3.4.3 Corporate Strategies
3.3.4.3.1 Mergers, Acquisitions, Partnerships, and Joint Ventures
3.3.4.4 R&D Analysis
3.3.4.5 Analyst View
3.3.5 TotalEnergies
3.3.5.1 Company Overview
3.3.5.1.1 Role of TotalEnergies in the Hydrotreated Vegetable Oil Market
3.3.5.1.2 Product Portfolio
3.3.5.2 Business Strategies
3.3.5.2.1 Market Developments
3.3.5.3 R&D Analysis
3.3.5.4 Analyst View
3.3.6 UPM
3.3.6.1 Company Overview
3.3.6.1.1 Role of UPM in the Hydrotreated Vegetable Oil Market
3.3.6.1.2 Product Portfolio
3.3.6.2 R&D Analysis
3.3.6.3 Analyst View
3.3.7 Green Biofuels Limited
3.3.7.1 Company Overview
3.3.7.1.1 Role of Green Biofuels Limited in the Hydrotreated Vegetable Oil Market
3.3.7.1.2 Product Portfolio
3.3.7.2 Analyst View
3.3.8 Preem AB
3.3.8.1 Company Overview
3.3.8.1.1 Role of Preem AB in the Hydrotreated Vegetable Oil Market
3.3.8.1.2 Product Portfolio
3.3.8.2 Analyst View
3.3.9 Colabit Sweden AB
3.3.9.1 Company Overview
3.3.9.1.1 Role of Colabit Sweden AB in the Hydrotreated Vegetable Oil Market
3.3.9.1.2 Product Portfolio
3.3.9.2 Analyst View
3.4 Other Key Companies
4.1 Data Sources
4.1.1 Primary Data Sources
4.1.2 Secondary Data Sources
4.2 Data Triangulation
4.3 Market Estimation and Forecast
4.3.1 Factors for Data Prediction and Modelling
Table 1: Europe Hydrotreated Vegetable Oil Market Overview
Table 2: List of Companies Profiled
Table 3: Comparison between HVO Diesel and Fossil Diesel
Table 4: List of Key Startups
Table 5: Key Consortiums and Associations
Table 6: List of Regulatory Bodies
Table 7: List of Government Programs
Table 8: List of Programs by Research Institutions
Table 9: Production Capacity Expansion (by Companies)
Table 10: Hydrotreated Vegetable Oil Market (by Region), Million Liters, 2022-2032
Table 11: Hydrotreated Vegetable Oil Market (by Region), $Million, 2022-2032
Table 12: Europe Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 13: Europe Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 14: Europe Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 15: Europe Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 16: Europe Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 17: Europe Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 18: Europe Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 19: Europe Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 20: The Netherlands Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 21: The Netherlands Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 22: The Netherlands Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 23: The Netherlands Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 24: The Netherlands Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 25: Netherlands Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 26: The Netherlands Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 27: The Netherlands Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 28: France Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 29: France Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 30: France Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 31: France Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 32: France Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 33: France Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 34: France Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 35: France Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 36: Italy Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 37: Italy Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 38: Italy Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 39: Italy Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 40: Italy Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 41: Italy Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 42: Italy Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 43: Italy Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 44: Spain Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 45: Spain Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 46: Spain Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 47: Spain Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 48: Spain Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 49: Spain Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 50: Spain Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 51: Spain Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 52: Rest-of-Europe Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 53: Rest-of-Europe Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 54: Rest-of-Europe Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 55: Rest-of-Europe Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 56: Rest-of-Europe Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 57: Rest-of-Europe Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 58: Rest-of-Europe Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 59: Rest-of-Europe Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 60: U.K. Hydrotreated Vegetable Oil Market (by Application), Million Liters, 2022-2032
Table 61: U.K. Hydrotreated Vegetable Oil Market (by Application), $Million, 2022-2032
Table 62: U.K. Hydrotreated Vegetable Oil Market (by End Users), Million Liters, 2022-2032
Table 63: U.K. Hydrotreated Vegetable Oil Market (by End Users), $Million, 2022-2032
Table 64: U.K. Hydrotreated Vegetable Oil Market (by Feedstock Type), Million Liters, 2022-2032
Table 65: U.K. Hydrotreated Vegetable Oil Market (by Feedstock Type), $Million, 2022-2032
Table 66: U.K. Hydrotreated Vegetable Oil Market (by Technology Type), Million Liters, 2022-2032
Table 67: U.K. Hydrotreated Vegetable Oil Market (by Technology Type), $Million, 2022-2032
Table 68: Market Share Analysis: Hydrotreated Vegetable Oil Market, 2022
Table 69: Other Key Companies in Hydrotreated Vegetable Oil Market
Figure 1: Europe Hydrotreated Vegetable Oil Market Overview, Billion Liters, 2022-2032
Figure 2: Europe Hydrotreated Vegetable Oil Market Overview, $Billion, 2022-2032
Figure 3: Europe Hydrotreated Vegetable Oil Market (by Application), $Billion, 2022-2032
Figure 4: Europe Hydrotreated Vegetable Oil Market (by End User), $Billion, 2022-2032
Figure 5: Europe Hydrotreated Vegetable Oil Market (by Feedstock Type), $Billion, 2022-2032
Figure 6: Europe Hydrotreated Vegetable Oil Market (by Technology Type), $Billion, 2022-2032
Figure 7: Hydrotreated Vegetable Oil Market (by Region), $Billion, 2022
Figure 8: Hydrotreated Vegetable Oil Market Supply Chain Analysis
Figure 9: Total Year-Wise Key Patents Filed for Hydrotreated Vegetable Oil Market, January 2019-December 2022
Figure 10: Total Year-Wise Key Patents Granted for Hydrotreated Vegetable Oil Market, January 2019-December 2022
Figure 11: Key Patent Analysis (by Status), January 2019-December 2022
Figure 12: Key Patent Analysis (by Organization), January 2019-December 2022
Figure 13: Business Dynamics for Hydrotreated Vegetable Oil Market
Figure 14: Carbon Dioxide Emission by Countries in 2021
Figure 15: Hydrotreated Vegetable Oil Production Capacities, Million Liters, 2019-2022
Figure 16: Capacity Addition Share (by Region), 2019-2022
Figure 17: Renewable Diesel Supply Growth by Region in 2022:
Figure 18: Renewable Diesel Demand Growth by Region in 2021-2022:
Figure 19: Global Sustainable Aviation Fuel (SAF) Supply Growth between 2018-2022:
Figure 20: Sustainable Aviation Fuel (SAF) Demand Growth by Region in 2021-2022:
Figure 21: Competitive Benchmarking for Hydrotreated Vegetable Oil Market
Figure 22: Eni S.p.A.: R&D Expenditure, $Million, 2020-2022
Figure 23: Neste: R&D Expenditure, $Million, 2020-2022
Figure 24: Repsol: R&D Expenditure, $Million, 2020-2022
Figure 25: TotalEnergies: R&D Expenditure, $Million, 2020-2022
Figure 26: UPM: R&D Expenditure, $Million, 2020-2022
Figure 27: Research Methodology
Figure 28: Data Triangulation
Figure 29: Top-Down and Bottom-Up Approach
Figure 30: Assumptions and Limitations
Europe Hydrotreated Vegetable Oil Market Report Coverage
|
Europe Hydrotreated Vegetable Oil Market |
|||
|
Base Year |
2022 |
Market Size in 2023 |
$8.04 Billion |
|
Forecast Period |
2023-2032 |
Value Projection and Estimation by 2032 |
$57.99 Billion |
|
CAGR During Forecast Period |
24.55% |
|
|
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Some of the prominent names established in this market are:
• Eni S.p.A.
• St1 Oy
• Neste
• TotalEnergies
• UPM
• Green Biofuels Limited
• Preem AB
• Colabit Sweden AB
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different hydrotreated vegetable oil-based fuels, i.e., renewable diesel and sustainable aviation fuel, various end users, technology type, and feedstock types involved in the production of hydrotreated vegetable oils. Moreover, the study provides the reader with a detailed understanding of the hydrotreated vegetable oil market based on the end user (transportation, agricultural machinery, industrial, and others).
Growth/Marketing Strategy: The hydrotreated vegetable oil market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been product developments, business expansions, and acquisitions to strengthen their position in the hydrotreated vegetable oil market.
Competitive Strategy: Key players in the Europe hydrotreated vegetable oil market analyzed and profiled in the study involve HVO-based fuel manufacturers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the Europe hydrotreated vegetable oil market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Introduction to Europe Hydrotreated Vegetable Oil Market
The Europe hydrotreated vegetable oil market (excluding U.K.) is estimated to reach $57.99 billion by 2032 from $8.04 billion in 2023, at a growth rate of 24.55% during the forecast period 2023-2032. The demand for renewable diesel and sustainable aviation fuel derived from hydrotreated vegetable oil is expected to rise across various industries like automotive, aviation, maritime, agriculture, and industrial sectors. Increased adoption of these fuels in advanced economies such as Italy, France, the Netherlands, and Sweden is anticipated to drive the hydrotreated vegetable oil market forward.
Market Introduction
The Europe hydrotreated vegetable oil market is experiencing growth, supported by increased investment and research and development efforts. Demand from various end-user industries is driving this growth, alongside government initiatives like incentives and tax credits promoting low-carbon fuels. The region benefits from a rising environmental awareness, leading to a growing adoption of low-carbon fuels such as renewable diesel and sustainable aviation fuel. Advanced and emerging economies within Europe are particularly contributing to this trend. As a result, the Europe hydrotreated vegetable oil market is poised to expand further, with renewable diesel and sustainable aviation fuel playing a significant role in shaping its trajectory.
Market Segmentation:
Segmentation 1: by Application
• Renewable Diesel
• Sustainable Aviation Fuel (SAF)
Segmentation 2: by End User
• Transportation
• Agricultural Machinery
• Industrial
• Others (Residential Buildings, Commercial Buildings, and Data Centers)
Segmentation 3: by Feedstock Type
• Edible Vegetable Oils
• Crude Palm Oil
• Used Cooking Oil
• Tall Oil
• Animal Fats
• Others (Non-Edible Vegetable Oil, Sludge Palm Oil Mill Effluent, and Refining Byproducts)
Segmentation 4: by Technology Type
• Standalone Hydrotreating Technology
• Co-Processing Technology
Segmentation 5: by Country
• Netherlands
• France
• Italy
• Spain
• Rest-of-Europe
Europe Hydrotreated Vegetable Oil Market
Analysis and Forecast, 2023-2032
Some Faq's
Frequently Asked Questions
The global hydrotreated vegetable oil market is projected to reach $158.09 billion by 2032 from $19.63 billion in 2022, growing at a CAGR of 22.54% during the forecast period 2023-2032.
Hydrotreated vegetable oil (HVO) is a renewable fuel derived from vegetable oils through a process called hydrotreating, which removes impurities and modifies the molecular structure. Unlike traditional vegetable oil, HVO has improved properties, such as lower viscosity and better cold flow characteristics, making it suitable for use as a diesel substitute.
HVO finds applications primarily in transportation sectors, including automotive, aviation, maritime, and industrial machinery. It is used as a renewable alternative to fossil diesel in engines, as well as in the production of sustainable aviation fuel (SAF) for aircraft.
HVO offers environmental advantages over fossil diesel, including reduced greenhouse gas emissions and lower particulate matter emissions, leading to improved air quality. Additionally, as a renewable fuel derived from sustainable feedstocks, HVO contributes to mitigating climate change and reducing reliance on fossil fuels.
The companies that produce and commercialize hydrotreated vegetable oil-based renewable diesel and sustainable aviation fuel, end-user sectors, research institutions, and regulatory bodies involved in the hydrotreated vegetable oil market should buy this report.
Similar Product
You may also like