Global Quick Overview of the Hydrotreated Vegetable Oil (HVO) Market Analysis

The objective of the Global Hydrotreated Vegetable Oil (HVO) Market Research Report is to provide a detailed and useful data, and a geographical perspective for predictions of future. The recommendations included in the report are supposed to be insightful and actionable, offering a thorough understanding of the industry. Moreover, it includes a comprehensive table of contents, relevant data, and an analysis of numerous important aspects that have impacted the market.

According to the latest report analysis by MarkNtel Advisors, the Global Hydrotreated Vegetable Oil Market is estimated to grow at a CAGR of around 12.4% during the forecast period, i.e., 2024-30.  This detailed study provides a detailed overview of the current market state, including market trends, opportunities, along with the recent developments. In-depth analysis of market share, size, forecast, and competitive landscape is also covered in this report that presents a clear picture of the industry with relevant statistical data.

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Latest Opportunity Contributing in the Hydrotreated Vegetable Oil (HVO) Industry:

Global Hydrotreated Oil Market Driver:

Adoption of Hydrotreated Vegetable Oil in Transportation Sector to Boost Market Growth – In recent years, countries like the UK, France, the US, etc., have been largely focused on reducing their carbon emissions, which has substantially increased due to the rapid industrialization & soaring usage of diesel-fueled vehicles. These emissions resulted in climate changes & numerous health hazards. As a result, the transportation sector across these countries has been transitioning toward renewable fuels like hydrotreated vegetable oil, aiming to reduce the overall carbon emissions.

Furthermore, railway companies & operators in Europe and Asia are increasingly adopting HVO fuel in trains as an alternative to traditional diesel. This is mainly due to compatibility with existing infrastructure and carbon reduction plans. For instance, in 2023, British Train Operating Company Chiltern Railways announced the launch of hydrotreated vegetable oil-powered trains on its network. Thus, the growing integration of HVO fuel in the railway sector is estimated to drive the Hydrotreated Vegetable Oil Market in the forthcoming years.

A Detailed Outlook of Hydrotreated Vegetable Oil (HVO) Market Segmentation

The Market Segmentation analysis provides and accurate data of the industry to help the analysts make smart strategic investment decisions. Also, the prediction of the market is included for national, and level in the research. The study analyses latest trends of the industry from 2024-30 for each of the category. Different segments were used to classify the market for this study are listed below:

-By Type

• Pure HVO-Market Size & Forecast 2019-2030, Thousand Tons
• Co-processed HVO-Market Size & Forecast 2019-2030, Thousand Tons

-By Feedstock

• Rapeseed-Market Size & Forecast 2019-2030, Thousand Tons
• Sunflower-Market Size & Forecast 2019-2030, Thousand Tons
• Soybean-Market Size & Forecast 2019-2030, Thousand Tons
• Palm-Market Size & Forecast 2019-2030, Thousand Tons
• Others (Jatropha, Coconut Oil, etc.)- Market Size & Forecast 2019-2030, Thousand Tons

-By Application

• Transportation- Market Size & Forecast 2019-2030, Thousand Tons
• Power Generation – Market Size & Forecast 2019-2030, Thousand Tons

Explore Our Comprehensive Study:  https://www.marknteladvisors.com/research-library/hydrotreated-vegetable-oil-market.html

Geographical Analysis:

-By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

North America is poised to lead the Hydrotreated Vegetable Oil Market in the forecast period, accounting for a substantial market share. According to the US Environmental Protection Agency, in 2021, the combustion of fossil fuels such as gasoline and diesel to transport people and goods was the largest source of CO2 emissions, accounting for around 28% of the total US greenhouse gas emissions. To combat this, initiatives like the Renewable Fuel Standard and provincial mandates in Canada promote renewable fuels, including hydrotreated vegetable oil (HVO), as part of a comprehensive strategy to cut the carbon footprint in transportation.

Further, as environmental consciousness rises among consumers, there is a growing preference for sustainable products, including biofuels. This shift in consumer awareness and preferences could drive demand for this renewable and environmentally friendly fuel option, thus enhancing the North America Hydrotreated Vegetable Oil Market size in the forthcoming years.

Lead the Hydrotreated Vegetable Oil (HVO) Market with a Deep Evaluation of the Competition

This report also includes accurate facts, figures, and market data into income assessments, and projections in the industry by using a wide range of statistical tools and knowledge about the market by the experts. Each notable market participant has a SWOT evaluation, a profile and a complementary Porter’s Five Forces analysis.

Moreover, to take the benefits of new opportunities, dominating players have been constantly realigning their systems, and methods of operation. We also evaluate major businesses that are influences on a geographical scale along with the small and medium-sized businesses that plays crucial role and have substantial opportunity for expansion in order to accurately reflect the levels of market competition.

The details on the following key players is presented in this section as:

• Neste Oyj
• Valero Energy Ltd
• Eni
• Cepsa
• TotalEnergies
• Preem
• Repsol
• Green Biofuels Limited
• Shell
• Watson Fuels
• Crown Oil Ltd
• Interion Pte Ltd
• Targray
• Prema Energy Ltd
• Others

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Global Hydrotreated Vegetable Oil Recent Development:

• 2023: Neste Oyi successfully expanded its Singapore hydrotreated vegetable oil (HVO) and sustainable aviation fuel (SAF) refinery, doubling production capacity to around 2.6 million tons per year, with about 1 million tons per year dedicated to sustainable aviation fuel (SAF).
• 2023: Eni SM collaborated with LG Chem to set up a joint HVO plant at its production base by 2026 in Daesan, Seoul. The factory is estimated to process around 400,000 tons of bio-feedstocks every year.

Key Report Highlights      

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Primary Stakeholders,
• Analysis of Import and Export Trends,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

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