Press Release

Europe Hydrotreated Vegetable Oil Market is Estimated to Register a Momentous CAGR of 13.2% By 2030

The Europe Hydrotreated Vegetable Oil Market is projected to grow at a CAGR of around 13.2% during the forecast period of 2024-29, cites MarkNtel Advisors in the recent research report. The rising demand for low-emission transportation fuels and the region's sustainability goals are driving market expansion. In recent years, countries such as the UK, Italy, etc., have been recording a surge in carbon emissions due to rapid industrialization & burgeoning transportation activities. These carbon emissions are leading to climate change & health-related problems such as respiratory & chronic obstructive pulmonary disease. As a result, the end-user industries are transitioning towards sustainable fuels & adopting HVO. These hydrotreated vegetable oils are the most sought-after low-carbon, sustainable alternatives to typical diesel fuels, which help the end-users achieve sustainability goals.

In addition, the governments of the European countries are also laying strict regulations for the transmissions. As a result, several end-user industries comprising power & utility, aviation, etc., are compelled to adopt the HVO rather than the traditional fuels, driving the European Hydrotreated Vegetable Oil Market. Further, the governments of countries such as Spain, France, etc., have started offering lucrative incentives to the citizens to transition from diesel. As a result, more consumers are likely to be inclined toward renewable and low-emission fuels, expanding the European HVO Market in the forthcoming years.

Furthermore, the usage of HVO in the aviation industry is gaining momentum due to its low carbon intensity and compatibility with existing aircraft engines. As a result, more airline operators would increasingly look to use these sustainable alternatives to petroleum-based jet fuel in foreseen years, further states the research report, “Europe Hydrotreated Vegetable Oil Market Analysis, 2024.”

Europe Hydrotreated Vegetable Oil Market Segmentation Analysis

Pure HVO Leads the Europe Hydrotreated Vegetable Oil Market

Based on Type, the market is bifurcated into Pure HVO & Co-processed HVO. Among them, Pure HVO accounted for a relatively higher market share since pure HVO offers numerous advantages like lesser environmental impacts to the end-users. Pure HVO is made up of vegetable oils & not blended with other chemical components. As a result, it offers higher energy efficiency & results in reduced emissions of particulate matter such as nitrogen & sulfur emissions.

Therefore, the end-users increasingly opt for pure HVO rather than blended HVO to meet stricter emissions reduction criteria. Moreover, the change in the preference of consumers, organizations, and fleet operators for a cleaner, more sustainable environment would further raise the demand for pure HVO across the Europe Hydrotreated Vegetable Oil Market.

The UK is Expected to Hold a Considerable Share in the Europe Hydrotreated Vegetable Oil Market

In recent years, the imports of fossil fuels in the UK have significantly increased due to declining domestic production. However, the rising geopolitical tensions and trade conflict between Russia and European countries have disrupted the supply of fossil fuels & created an energy crisis in the UK. As a result, the government of the UK has laid down several plans to resolve the energy crisis by lowering the consumption of fossil fuels and shifting towards sustainable fuels, driving the demand for the HVO in the UK.

In addition, the country is also witnessing a surge in carbon emissions, owing to which the government of the UK has laid down policies & plans that support the demand for the HVO. Hence, the government's favorable policies would shift the consumers towards sustainable fuel & drive the Hydrotreated Vegetable Market in the forthcoming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Repsol, Neste, Eni, Cepsa, Preem AB, TotalEnergies, Green Biofuels Limited, Valero, Shell, Watson Fuels, and others, are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Europe Hydrotreated Vegetable Oil Market?
3. What key factors would propel and impede the industry across the countries?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?