Europe Hydrotreated Vegetable Oil Market Trends, Key Players Analysis, Regional Trends, Competitive Landscape, and Industry Potential by 2030

Europe Hydrotreated Vegetable Oil Market

Europe Hydrotreated Vegetable Oil Market Research Report: Forecast (2024-2030)

The Europe Hydrotreated Vegetable Oil Market is estimated to grow at a CAGR of around 13.2% during the forecast period, i.e., 2024-30. The factors attributing to the growth in the demand for the HVO are the increasing adoption of these fuel types in several sectors like transportation, aviation & others and rising government initiatives intending to encourage the adoption of sustainable fuels rather than conventional diesel & petrol.

Several end-user industries, such as chemical, automotive, and others in European countries like Italy, Germany, etc., use heavy & medium commercial vehicles for their logistics & transportation purposes to carry raw materials & packaged goods within the country. As a result, fuel consumption is relatively higher for these vehicles, causing carbon emissions. Hence, the companies have laid down sustainability goals & are aligning their efforts to achieve carbon targets and increasingly adopting sustainable fuels, driving the European Hydrotreated Vegetable Oil Market.

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Market Dynamics

Europe Hydrotreated Vegetable Oil Market Opportunity – Surging Usage of HVO for Power Generation to Uplift Market Growth

European countries like the UK, Italy, France, Germany, and others depend upon the import of fossil fuels from other countries like Norway, the Netherlands, etc., due to the maturing oil fields, imposition of a ban on mining, and limited oil & gas reserves. These countries seek to import fossil fuels in large quantities for various purposes like power generation, transportation, etc. According to the European Commission, in 2022, the share of petroleum oil & natural gas in the overall commodities imports increased to 11% & 10.8%.

However, the rising geopolitical tension between countries like Russia & Ukraine led to uncertainty in trade activities between Russia & European countries & generated an energy crisis in the European countries. Therefore, to mitigate the reliance on the import of fossil fuel, the governments of the country like the UK, France, and others are encouraging the usage of renewable biofuel for power generation rather than conventional fossil fuel.

Moreover, the government is also aligning its efforts to generate electricity using clean energy. Therefore, the demand for hydrotreated vegetable oil would increase in the forthcoming years for power generation purposes.

Leading Companies in Europe Hydrotreated Vegetable Oil Market:

Repsol, Neste, Eni, Cepsa, Preem AB, TotalEnergies, Green Biofuels Limited, Valero, Shell, Watson Fuels, Others

Segmentation of the Industry

The Europe Hydrotreated Vegetable Oil Market is highly fragmented and bifurcates into the following segmentations:

By Type

-Pure HVO

-Co-processed HVO

  • The pure segment accounts for the prominent share in the Europe HVO Market owing to the increasing inclination of the end-users towards pure HVO.

By Feedstock

-Rapeseed

-Sunflower

-Soybean

-Palm

-Others (Jatropha, Coconut Oil, etc.)

By Application

-Transportation

–Road Transport

–Aviation

–Others (Agricultural, Railways etc.)

-Power Generation

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Regional Landscape

On the geographical front, the Europe Hydrotreated Vegetable Oil Market expands across the following:

By Country

-Germany

-The UK

-France

-Italy

-Spain

-Sweden

-The Netherlands

-Finland

-Rest of Europe

  • The production of conventional fossil fuel in the UK has been declining for the past few years owing to the maturing oil fields & strict regulations regarding mining & fossil fuel extraction activities.

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