Global Hydrotreated Vegetable Oil (HVO) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Hydrotreated Vegetable Oil (HVO) Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Hydrotreated Vegetable Oil (HVO) is a paraffinic bio-based liquid fuel originating from many kinds of vegetable oils, such as rapeseed, sunflower, soybean, and palm oil, as well as animal fats. It can be used in conventional diesel engines, pure or blended with fossil diesel.

Market Overview:

The latest research study on the global Hydrotreated Vegetable Oil (HVO) market finds that the global Hydrotreated Vegetable Oil (HVO) market reached a value of USD 20484.54 million in 2022. It’s expected that the market will achieve USD 43838.99 million by 2028, exhibiting a CAGR of 13.52% during the forecast period.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

Neste is one of the major players operating in the Hydrotreated Vegetable Oil (HVO) market, holding a share of 28.92% in 2021.

Neste is a company creating sustainable solutions for transport, aviation, polymers, and chemicals sectors. It is engaged in the production of renewable diesel and renewable jet fuel refined from waste and residues. The company also provides the raw material for plastics that is made out of renewable and recycled materials.

Diamond Green Diesel is a joint venture operating a renewable diesel refinery. It processes process animal fats, used cooking oil, and inedible corn oil into renewable diesel fuel.

Segmentation Overview:

Among different product types, Based on Ecofining Technology segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Vehicle segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Hydrotreated Vegetable Oil (HVO) market covered in Chapter 3:

Neste
World Energy
Diamond Green Diesel
Total
REG
Preem
Eni
Repsol
UPM Biofuels
Cepsa

In Chapter 4 and Chapter 14.2, on the basis of types, the Hydrotreated Vegetable Oil (HVO) market from 2018 to 2029 is primarily split into:

Based on Ecofining Technology
Based on Co-Processing Technology
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Hydrotreated Vegetable Oil (HVO) market from 2018 to 2029 covers:

Vehicle
Generator
Industrial Power System
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)