Vice president of federal affairs for the National Biodiesel Board (NBB), Kurt Kovarik said that, “The National Biodiesel Board has again disappointed that Congress has failed to provide pro-growth tax certainty for a domestic energy industry that has broad, bipartisan support. The lack of urgency by Congress to extend this expired tax credit continues to frustrate the producers, blenders and marketers of biodiesel.” and As a result Kurt Kovarik has advised that they will work to educate members of the economic and environmental benefits of increased use of biodiesel, so that Congress is poised to drive investments in this American energy industry.
The article cited AMA's "Global Biodiesel Market Study" explored substantial growth of 6.58%. According to the report, Upsurging Importance of Minimizing Pollution across the Globe leading to Create Minimal Polluting Biodiesel is one of the primary growth factors for the market. Growing Concerns about the Green House Emission across the Globe
is also expected to contribute significantly to the Biodiesel market. Overall, Industrial Fuels
applications of Biodiesel, and the growing awareness of them, is what makes this segment of the industry important to its overall growth.
AMAs Analyst on the Global Biodiesel market identified that the demand is rising in many different parts of the world as "Favorable Government Regulations in Manufacturing Biodiesel Plants
". Furthermore, some recent industry insights like "In February 2018, Congress passed a retroactive extension of the biodiesel tax incentive for 2017 only. But producers continue to operate in 2018 without a tax credit, which is forcing biodiesel producers nationwide to carry the risk of the uncertainty caused by the lack of the tax credit. For some small biodiesel producers, that can be the difference between keeping the lights on or off." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Biodiesel market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Biodiesel market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Biodiesel market size is calculated using market estimation process, the Biodiesel market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Biodiesel market size has been validated using both top-down and bottom-up approaches.