Global biodiesel market rising by 26%

Between 2005 and 2015 the worldwide market value of biodiesel is expected to increase by 26%, reaching $62 million (€43.3 million) in 2015. This is according to a report released from market research reports database companiesandmarkets.com.

In 2009, a total of 14.7 billion gallons of biodiesel were produced. The report, entitled Biodiesel and Feedstocks: A Global Market Outlook, predicts this could reach 26 billion gallons by 2015.

The report names Europe as the world's largest biodiesel market, as it produces around 70% of the world's total production capacity.

In the US, the biodiesel market is rising at a rate of 12.8%. Countries in the Asia-Pacific are also growing slightly.