China: Biodiesel Market 2024

Biodiesel Market Size in China

The Chinese biodiesel market expanded remarkably to $X in 2021, surging by 7.8% against the previous year. Over the period under review, consumption faced a deep contraction. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Biodiesel Production in China

In value terms, biodiesel production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, saw a mild decrease. The pace of growth appeared the most rapid in 2019 when the production volume increased by 41% against the previous year. Biodiesel production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Biodiesel Exports

Exports from China

For the sixth consecutive year, China recorded growth in shipments abroad of biodiesel, which increased by 42% to X tons in 2021. Over the period under review, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 29,203%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, biodiesel exports skyrocketed to $X in 2021. In general, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 24,526%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for biodiesel exports from China, with a 70% share of total exports. Moreover, biodiesel exports to the Netherlands exceeded the volume sent to the second major destination, Spain (X tons), fivefold. The third position in this ranking was taken by Belgium (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the Netherlands totaled +252.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+147.0% per year) and Belgium (+107.9% per year).

In value terms, the Netherlands ($X) remains the key foreign market for biodiesel exports from China, comprising 71% of total exports. The second position in the ranking was held by Belgium ($X), with a 13% share of total exports. It was followed by Spain, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands totaled +259.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+150.8% per year) and Spain (+183.1% per year).

Export Prices by Country

The average biodiesel export price stood at $X per ton in 2021, jumping by 31% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Belgium ($X per ton) and the UK ($X per ton), while the average price for exports to Spain ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Biodiesel Imports

Imports into China

In 2021, biodiesel imports into China skyrocketed to X tons, increasing by 113% compared with the previous year's figure. Overall, imports posted a significant expansion. The growth pace was the most rapid in 2018 when imports increased by 4,767% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, biodiesel imports surged to $X in 2021. Over the period under review, imports posted a significant increase. The growth pace was the most rapid in 2018 with an increase of 3,908%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Malaysia (X tons) and Hong Kong SAR (X tons) were the main suppliers of biodiesel imports to China, with a combined 98% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of +133.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Malaysia ($X) and Hong Kong SAR ($X) were the largest biodiesel suppliers to China, together accounting for 98% of total imports.

Hong Kong SAR, with a CAGR of +135.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average biodiesel import price stood at $X per ton in 2021, growing by 35% against the previous year. Over the period under review, the import price, however, recorded a mild slump. The most prominent rate of growth was recorded in 2020 when the average import price increased by 45% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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