Biodiesel Heats Up: Demand Remains Cool
Thursday November 2, 6:00 am ET
SRI Consulting Releases Comprehensive Global Report
MENLO PARK, Calif.--(BUSINESS WIRE)--Global biodiesel production capacity is on a rapid growth curve. Biodiesel is renewable fuel made from vegetable or animal fats and oils used as a substitute for fossil diesel in standard diesel engines and for heating fuel. Today, SRI Consulting (SRIC) released its new Biodiesel Report that provides comprehensive and current information on the global biodiesel industry and trends.
John Pearson, CEO of SRIC, commented, "The main drivers for growth and survival of the biodiesel industry are government regulations that mandate incorporation of renewable fuels over time. Executives in the automobile, oil and chemical industries and energy investors need current information to understand this dynamic marketplace. The new Biodiesel Report provides valuable insights for today as well as five-year forecasts to facilitate decision making related to biodiesel as an alternative to petrochemical based fuels."
Author and Vice President at SRIC Ralf Gubler said, "Over the last year, the biodiesel industry has changed dramatically. For example, the average biodiesel plant in Western Europe produced about 40 thousand metric tons last year. In 2006, the average capacity is expected to be 100 thousand metric tons. Also, other regions are planning to have the same capacity within two years."
Mr. Gubler added, "The expected ramp-up in biodiesel production capacity over the next five years is not in balance with expected demand in many regions. For example, while growth in Western Europe is currently under control, the US is currently in the process of building massive excess capacity. Asia and South America are building significant biodiesel capacity with the expectation of large export markets. On a World average, biodiesel capacity is expected to grow annually as high as 66% through 2010."
Bob Davenport, Director of SRIC's Safe & Sustainable Chemicals series, commented, "In the future, energy will most likely come from several sources. Supply and demand for each energy source will depend on the regional political and economic environment and local resources. The Biodiesel Report details the current and future situation in each region which is critical for understanding how biodiesel fits into the overall energy industry."
SRI Consulting's new Biodiesel Report contains comprehensive coverage of supply and demand for North America, Central and South America, Western Europe, Central and Eastern Europe and Asia. The report provides in depth coverage on supply and demand, feedstock issues, production technologies, and regulatory, environmental and agricultural issues for over 60 individual countries. In over 500 pages and 280 tables, the report details 15 years of historical and five years of projected supply/demand figures on a country-by-country level.
Source: SRI Consulting
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