Latest News- Hydrotreated Vegetable Oil Market: Food and feed crops is expected to lead the Source segment during 2025-2029
The Hydrotreated Vegetable Oil Market is being driven by Supportive government measures
The Hydrotreated Vegetable Oil Market is expected to grow at a CAGR of 13.3% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 20114.2 million. The global hydrotreated vegetable oil (HVO) market is experiencing a notable transition towards eco-friendly fuel alternatives, fueled by stringent environmental regulations and the automotive industry's commitment to reducing carbon emissions. HVO, a biofuel derived from renewable sources such as used vegetable oils, animal fats, and waste cooking oils, is gaining traction as a viable replacement for conventional petroleum-based diesel. In a significant industry development, Stellantis announced in November 2024 that its entire fleet of cars and light-duty commercial vehicles is now compatible with HVO diesel fuel. This strategic move underscores the expanding adoption of sustainable fuel options by the automotive sector. The HVO production process, which includes hydrogenation, yields a cleaner, sulfur-free fuel with substantially lower levels of aromatic compounds and pollutants, making it an attractive alternative for environmentally conscious consumers and businesses.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Source (Food and feed crops, Animal fats) Application (Sustainable aviation fuel, Automotive fuel, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Hydrotreated Vegetable Oil Market Research Report
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The Hydrotreated Vegetable Oil (HVO) market is driving innovation in sustainable manufacturing through green chemistry, producing low carbon emissions bio-derived fuels as alternative energy solutions. This contributes to climate change mitigation by reducing carbon footprints and promoting eco-friendly solutions in various sectors. HVO is used in bio-based plastics, green materials, and green building materials, making them essential in the shift towards environmental sustainability. The renewable fuel infrastructure supports sustainable mobility and the development of green energy solutions, further reducing emissions in transportation. HVO production aligns with sustainable agriculture and bio-based materials, fostering green technology and innovation. Policies such as renewable fuel standards, biodiesel mandates, and clean diesel technology support the growth of this market, offering diesel fuel alternatives and contributing to emissions reduction.
The Hydrotreated Vegetable Oil (HVO) market encompasses businesses engaged in the production of sustainable aviation fuels and other industrial applications through the hydrotreating process of various feedstocks, excluding those derived from palm oil. Technavio's market analysis calculates the HVO market size based on the consolidated revenue generated by these entities. It's essential to note that this market does not include manufacturers of hydrotreating equipment or producers of palm oil-derived HVO. Key growth drivers for the HVO market include the reduction of greenhouse gas emissions, increasing demand for sustainable aviation fuels, and the focus on enhancing customer service through improved product quality and reliability.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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