Global HVO Fuel Market Growth 2025-2031

Global HVO Fuel Market Growth 2025-2031

The global HVO Fuel market size is predicted to grow from US$ 22900 million in 2025 to US$ 61690 million in 2031; it is expected to grow at a CAGR of 18.0% from 2025 to 2031.

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.

LP Information, Inc. (LPI) ' newest research report, the “HVO Fuel Industry Forecast” looks at past sales and reviews total world HVO Fuel sales in 2024, providing a comprehensive analysis by region and market sector of projected HVO Fuel sales for 2025 through 2031. With HVO Fuel sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world HVO Fuel industry.

This Insight Report provides a comprehensive analysis of the global HVO Fuel landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on HVO Fuel portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global HVO Fuel market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for HVO Fuel and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global HVO Fuel.

This report presents a comprehensive overview, market shares, and growth opportunities of HVO Fuel market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
From Stand-Alone Biorefineries
From Co-Processing Plants

Segmentation by Application:
Automotive Fuels
Marine Fuel
Industrial Fuels
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
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

Key Questions Addressed in this Report

What is the 10-year outlook for the global HVO Fuel market?

What factors are driving HVO Fuel market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do HVO Fuel market opportunities vary by end market size?

How does HVO Fuel break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.