Biodiesel Market to Grow 8.1 Percent

The global biodiesel market will grow at a compound annual growth rate of 8.1 percent between 2013 and 2018, according to a report by Research and Markets.

According to the report, one prominent driver in the market is the advantage of using biodiesel over diesel, noting that the market is in need of a clean source of energy, and biodiesel is seen as an ideal alternative because it reduces greenhouse gas emissions and carbon footprints.

A Brazil Eco Energia analyst, commenting on the report, notes that many investors worldwide are investing in the market because biodiesel is a clean fuel, and it is gaining importance as a non-toxic and carbon-neutral fuel. It is the only alternative fuelto comply under the EPA’s Clean Air Act, and it successfully passes the criteria for lower emissions and a reduced carbon footprint in all other parts of the world.»