Global HVO Fuel Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

Global HVO Fuel Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global HVO Fuel market size was valued at US$ 23960 million in 2024 and is forecast to a readjusted size of USD 61490 million by 2031 with a CAGR of 16.9% during review period.

HVO is a renewable diesel produced through a hydrogenation process. The process uses vegetable oil, animal fat or waste oil as raw materials, removes oxygen molecules through hydrogenation, and obtains a clean fuel with chemical properties similar to traditional fossil diesel. HVO has excellent combustion performance and lower carbon emissions. Compared with traditional diesel, it not only reduces greenhouse gas emissions, but can also be used directly on existing diesel engines. Therefore, it is widely used in transportation and other fields that require diesel. Hydrocarbon-based biodiesel uses oil hydrogenation technology, and its performance is improved compared to the first-generation ester-based biodiesel - the calorific value is increased, the freezing point is lowered, and the fluidity is improved. At the same time, the second-generation biodiesel includes inedible vegetable oil, waste cooking oil and animal fats, which is more environmentally sustainable and helps to achieve the long-term carbon neutrality goal. Therefore, the second-generation hydrocarbon-based biodiesel is expected to become mainstream worldwide.

The hydrogenated vegetable oil (HVO) industry is growing rapidly, driven primarily by the global demand for renewable energy and low-carbon fuels. HVO is a high-quality biofuel made by hydrotreating vegetable oil and waste oil, with advantages such as high energy efficiency, low pollution, and strong compatibility with traditional diesel. The growth of the industry is due to the fact that more and more countries and companies are committed to reducing carbon emissions and investing in clean energy solutions. HVO is gradually replacing traditional fossil fuels in transportation, power generation, and industrial applications, while facing challenges in raw material supply, production costs, and technological innovation. In the future, with technological advancement and strengthened policy support, HVO is expected to play a more important role in the global energy transition. Hydrogenated vegetable oil (HVO) producers should adopt multiple strategies to promote industry development and market share growth. First, producers should expand the source of raw materials, such as waste cooking oil, to ensure supply chain stability and cost-effectiveness. Second, invest in advanced production technologies and facilities to improve the production efficiency and quality of HVO and reduce carbon footprint. In addition, producers should work closely with downstream customers and government agencies to promote the use and acceptance of HVO and use policy support and subsidies to expand the market. Finally, manufacturers should strengthen market promotion and education to increase public awareness and recognition of HVO as a clean alternative fuel and promote the long-term sustainable development of the industry.

This report is a detailed and comprehensive analysis for global HVO Fuel market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global HVO Fuel market size and forecasts, in consumption value ($ Million), sales quantity (Kilotons), and average selling prices (US$/Ton), 2020-2031

Global HVO Fuel market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Kilotons), and average selling prices (US$/Ton), 2020-2031

Global HVO Fuel market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Kilotons), and average selling prices (US$/Ton), 2020-2031

Global HVO Fuel market shares of main players, shipments in revenue ($ Million), sales quantity (Kilotons), and ASP (US$/Ton), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for HVO Fuel

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global HVO Fuel market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Neste, Diamond Green Diesel, Renewable Energy Group, UPM Biofuels, Eni, World Energy, TotalEnergies, Preem, Repsol, Cepsa, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

HVO Fuel market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
From Stand-Alone Biorefineries
From Co-Processing Plants

Market segment by Application
Automotive Fuels
Marine Fuel
Industrial Fuels
Others

Major players covered
Neste
Diamond Green Diesel
Renewable Energy Group
UPM Biofuels
Eni
World Energy
TotalEnergies
Preem
Repsol
Cepsa
NextChem(Maire Tecnimont)
Axens
BP
Certas Energy
EcoCeres
Haixin Energy Technology
Junheng Industrial Group Biotechnology
Linyi Huibang Electronic Technology

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe HVO Fuel product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of HVO Fuel, with price, sales quantity, revenue, and global market share of HVO Fuel from 2020 to 2025.

Chapter 3, the HVO Fuel competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the HVO Fuel breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and HVO Fuel market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of HVO Fuel.

Chapter 14 and 15, to describe HVO Fuel sales channel, distributors, customers, research findings and conclusion.