North America Renewable Diesel Market by feedstock (Waste oils, Vegetable oils), and Country (United States, Canada, Mexico) - Forecast to 2044

North America Renewable Diesel Market by feedstock (Waste oils, Vegetable oils), and Country (United States, Canada, Mexico) - Forecast to 2044

The North America Renewable diesel market size is projected to grow from USD 12.9 Billion in 2022 to USD 49.1 Billion by 2044, at a CAGR of 7.1% during the forecast year. Used cooking oil is a good source of raw material used for renewable diesel production. Finding feedstocks to sustain production is one of the major problems the biofuel sector is experiencing. Conventional feedstocks such as soy oil are not economically viable. Animal or recycled fats and used cooking oil are the more appealing alternative feedstock.

“By Feedstock, Waste Oil segment has the largest share in North America Renewable diesel market in 2022.”

Tallow, used cooking oil, fish oil, lard, and poultry are considered under the waste oil segment. The Waste oil segment market will increase as the many biofuels suffer sustainability issues owing to high feedstock costs and the competition of some bio feedstocks with food supplies. Waste-based biofuel feedstocks, such as animal fats, yellow grease, manure, wastewater treatment sludge, municipal solid waste, crop residue, and forest residue, can play an essential role in growing biofuel feedstocks and ensuring the biofuel industry's long-term growth.

“US Renewable diesel market is projected to have largest market share during the forecast period.”

The US dominates the renewable diesel market in North America and is expected to continue its dominance during the forecast period. The waste oils segment is considered a potential feedstock for the production of renewable diesel. According to the US Energy Information Administration, at the end of 2020, the US renewable diesel production capacity totaled nearly 0.6 billion gallons per year (gal/y) or 38,000 barrels per day (b/d). Several projects currently under construction could increase this capacity by 2.4 billion gal/y; proposed and announced projects would add another 1.8 billion gal/y by 2024. The US renewable diesel production would total 5.1 billion gal/y (330,000 b/d) by the end of 2024.

In-depth interviews were performed with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from several key organizations working in the North America Renewable diesel market.

By Department: Tier 1: 30%, Tier 2: 50%, Tier 3: 20%

By Designation: Directors: 20%, CXOs: 40%, and Others: 40%

By Region: US: 60%, Canada: 30%, Mexico: 10%,

The North America Renewable diesel market comprises major manufacturers, such as Neste Oyj (Finland), Chevron Group (Renewable Energy Group) (US), PBF Energy Inc. (US), Valero Energy Corporation (US), Gevo, Inc (US), Phillips 66 (US), Marathon Petroleum Corporation (US), Aemetis, Inc. (US).

Research Coverage

The market study covers the North America Renewable diesel market across various segments. It aims at estimating the market size and the growth potential of this market across different segments based on type, generation, application, and region. The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to enhance their position in the North America Renewable diesel market.

Key Benefits of Buying the Report

The report is projected to help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers of the overall North America Renewable diesel market and its segments and sub-segments. This report is projected to help stakeholders understand the market’s competitive landscape and gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims at helping stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.