World biodiesel market value to 62 billion dollar by 2015

The world market value of biodiesel is expected to reach 62 billion dollar by the year 2015 with a production of 26 billion gallons. An analysis shows depicts that Europe will remain the largest biodiesel market, worldwide, accounting for nearly 70% of the total production. North America will likely be the second largest market for biodiesel with a growth rate of 12,8% in 2010. The Asian-Pacific market will be the second fastest growing biodiesel market by the year 2015, behind North America.

In 2009 the global biodiesel production capacity was estimated at 14,7 billion gallons and is expected to grow at a faster rate with new participations in the industry in the next couple of years.

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