India: Biodiesel Market 2024

Biodiesel Market Size in India

The Indian biodiesel market rose rapidly to $X in 2021, picking up by 11% against the previous year. In general, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +74.9% against 2016 indices. Biodiesel consumption peaked in 2021 and is likely to continue growth in years to come.

Biodiesel Production in India

In value terms, biodiesel production rose remarkably to $X in 2021 estimated in export price. Over the period under review, the total production indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -7.1% against 2019 indices. The growth pace was the most rapid in 2019 when the production volume increased by 29%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Biodiesel Exports

Exports from India

In 2021, shipments abroad of biodiesel decreased by -60.8% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 4,148,074%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, biodiesel exports declined notably to $X in 2021. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2014 when exports increased by 4,564,145%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Malaysia (X tons), the Netherlands (X tons) and Spain (X tons) were the main destinations of biodiesel exports from India, together accounting for 100% of total exports.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of +518.9%), while the other leaders experienced a decline.

In value terms, the largest markets for biodiesel exported from India were Malaysia ($X), the Netherlands ($X) and Spain ($X), together comprising 100% of total exports.

Malaysia, with a CAGR of -6.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average biodiesel export price amounted to $X per ton, growing by 50% against the previous year. In general, export price indicated a strong increase from 2013 to 2021: its price increased at an average annual rate of +6.3% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, biodiesel export price increased by +103.7% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Biodiesel Imports

Imports into India

After two years of decline, purchases abroad of biodiesel increased by 64% to X tons in 2021. Over the period under review, imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 442% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, biodiesel imports skyrocketed to $X in 2021. In general, imports saw a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 434% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), France (X tons) and Belgium (X tons) were the main suppliers of biodiesel imports to India, together comprising 96% of total imports.

From 2013 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +373.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), France ($X) and Belgium ($X) constituted the largest biodiesel suppliers to India, with a combined 97% share of total imports.

In terms of the main suppliers, China, with a CAGR of +430.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average biodiesel import price amounted to $X per ton, increasing by 8.8% against the previous year. Over the period under review, import price indicated a tangible increase from 2013 to 2021: its price increased at an average annual rate of +2.5% over the last eight years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, biodiesel import price increased by +91.7% against 2019 indices. The most prominent rate of growth was recorded in 2020 an increase of 76% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was attained by China (+12.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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