Investment Rating - The report indicates a positive outlook for the biodiesel industry, highlighting significant growth potential driven by environmental policies and technological innovations [9][21]. Core Insights - Biodiesel, as a renewable and environmentally friendly alternative energy source, has gained substantial attention globally, particularly in the context of achieving carbon neutrality goals [9][24]. - The global biodiesel market is experiencing a notable increase in consumption, with a reported 17.29% year-on-year growth in 2023, reaching 2,262.59 PJ, marking the highest annual growth rate in nearly a decade [27]. - The report emphasizes the importance of government policies and incentives in driving biodiesel demand, particularly in Europe and North America, which together account for over half of global consumption [29]. Policy Environment - In China, the "14th Five-Year Plan" for renewable energy development emphasizes the promotion of non-grain biomass liquid fuels, including biodiesel [10]. - The National Energy Administration's recent initiatives aim to expand domestic biodiesel applications and support pilot projects [10]. - The introduction of standards for marine biodiesel fuels in 2024 is expected to enhance quality regulations in the industry [10]. Market Demand - The biodiesel market is projected to continue expanding due to increasing environmental regulations and the transition towards greener energy sources [21][22]. - The Asia-Pacific region is emerging as a significant market for biodiesel, with Indonesia leading in palm oil production, a key raw material for biodiesel [31]. - China's biodiesel consumption is expected to grow as more cities participate in pilot programs and supportive policies are implemented [26][31]. Market Supply - Global biodiesel production has shown a significant upward trend, increasing from 81.20 PJ in 2004 to 2,144.59 PJ in 2023 [32]. - The report notes that the majority of biodiesel production is concentrated in Europe, the United States, and Indonesia, with China being a major exporter despite a relatively small domestic market [35]. - The impact of anti-dumping measures from the EU has led to a decrease in China's biodiesel export volumes, highlighting the need for diversification in international markets [35]. Future Development Trends - The biodiesel industry is expected to benefit from continued government support and technological advancements, particularly in the transition from first-generation to second-generation biodiesel [22]. - The report outlines a trend towards raw material diversification for biodiesel production, including waste oils and various agricultural crops [22]. - The acceleration of international market expansion and domestic application development is crucial for reducing reliance on external markets [22][36].
新能源之生物柴油行业展望市场需求广阔 国际化布局和打通内循环为发展着力点
Da Gong Guo Ji·2024-12-30 10:50