In November 2021, U.S. ethanol prices hit over $3.2 per gallon, doubling against the same period in 2020. Despite this, the last factory in the U.S. producing synthetic ethanol announced ceasing operations because it cannot compete with bioethanol in terms of costs. Government investments worth $26M will drive U.S. biofuel infrastructure development. A conflict between biofuel producers and the Environmental Protection Agency is coming to a head because the agency delayed issuing the 2022 Renewable Volume Obligation (RVO). This document was expected to propel the bioethanol market by elevating the standards for the biofuel percentage used in blends with traditional gasoline and diesel.
This year, Belgium is overtaking Germany to emerge as the second-largest biodiesel exporter in the world. From January to July 2021, Belgium supplied biodiesel worth $2.1B abroad, while Germany’s exports were estimated at $1.8B. The Netherlands keeps the leading position with a biodiesel export value of $4.2B. In 2020, Germany ($2.3B) followed the Netherlands ($4.6B) in global export ranking, while Belgium ($1.5B) took third place. The average biodiesel export price grew by +11% y-o-y to $979 per tonne in 2020.
The global butanol market is forecast to see a pronounced recovery in 2021. The increased demand for butyl acetate and butyl acrylate, which together comprise over half of the butanol consumption, emerges as a key butanol market driver amid the current construction boom in Asia, the U.S., Russia and Europe. The use of butanol as an alternative fuel may also accelerate the market expansion. The possibility to derive biobutanol from food waste and the emerging technology to obtain butanol from CO2 shape promising investment prospects, following the shift to a circular economy.
The potassium hydroxide market, buoyed by steady demand from soap and detergent, fertilizer, and potassium carbonate manufacturers, emerged from the pandemic without any significant losses. The market is set to expand further, as a result of increasing demand from hygiene product industry, electronic chemistry and alternative fuel manufacture.
Neither the pandemic nor the low oil prices succeeded in slowing the growth of the global biodiesel market. As economies worldwide start to recover from the Covid crisis, and environmental concerns increase, the demand is set to remain robust in 2021.
The soybean oil market indicates steady growth, despite the COVID-19 pandemic cut demand for biofuel. The competitive price of soybean oil, against the price for sunflower and palm oil, combined with the potential growth in demand for biofuels and increasingly robust environmental standards, signal tangible prospects for the further development of the soybean oil market.
While Indonesia, planning to expand production, fights for the EU's recognition of palm oil as a biofuel, Malaysia is faced with an acute shortage of labor due to the outflow of guest workers after the pandemic.
Global Soybean Market: Soybean is widely used both in animal feeding and human consumption, with soyfeed taking the larger part of consumption. For human consumption such products as soy oil, soy milk, soy flour, soy protein, tofu and many retail food
In value terms, biodiesel and mixtures thereof imports totaled $X in 2016. Overall, biodiesel and mixtures thereof imports continue to indicate a deep deduction. Global biodiesel and mixtures there...