수소화 처리 식물성 오일 시장 기회, 성장 촉진요인, 산업 동향 분석, 예측(2024-2032년)

The Global Hydrotreated Vegetable Oil Market was valued at USD 24.2 billion in 2023 and is projected to expand at a CAGR of 13.3% from 2024 to 2032. Hydrotreated vegetable oil (HVO), a renewable fuel derived from vegetable oils and animal fats, undergoes production via state-of-the-art hydrogenation processes. The automotive sector is increasingly adopting HVO as a direct alternative to conventional diesel, leveraging its compatibility with existing engines and infrastructure. This transition not only aligns with the industry's sustainability goals but also addresses regulatory mandates aimed at reducing emissions. The overall hydrotreated vegetable oil industry is classified based on the source of feedstock, grade, technology type, application, and region.

The market segments based on feedstock sources include animal fats, food and feed crops, palm oil mill effluent, used cooking oils, and others. Dominating the market, food and feed crops accounted for a substantial USD 16.7 billion in 2023, with projections of significant growth at a CAGR of 12.7% by 2032. Food and feed crops serve as the primary feedstock due to their widespread availability and suitability for large-scale production. This segment predominantly utilizes cost-effective crops like soybeans and canola. Animal fats and used cooking oils contribute significantly, offering sustainable alternatives and waste reduction.

Market segmentation by grade includes Class 1: premium grade HVO, Class 2: standard grade HVO, Class 3: basic grade HVO, and Class 4: specialty grade HVO. Class 2: Standard Grade HVO, which dominated the market in 2023, is projected to continue its growth trajectory through 2032 at a CAGR of 13%. The prominence of Class 2: Standard Grade HVO stems from its optimal balance of performance and cost, making it a preferred choice for transportation and industrial applications. Europe emerges as the frontrunner in the HVO landscape, driven by stringent environmental regulations and strong support for renewable fuels.

The EU's ambitious sustainability targets, complemented by incentives for cleaner energy, have significantly propelled HVO's uptake across Europe. As per the European Environment Agency (EEA), the EU is committed to slashing greenhouse gas emissions by a minimum of 55% by 2030. Europe's dominance is further reinforced by its advanced production facilities and well-established market infrastructure, underscoring the continent's commitment to reducing carbon emissions and pioneering renewable energy advancements.

Table of Contents

Chapter 1 Methodology & Scope

• 1.1 Market scope & definition
• 1.2 Base estimates & calculations
• 1.3 Forecast calculation
• 1.4 Data sources
  • 1.4.1 Primary
  • 1.4.2 Secondary
    • 1.4.2.1 Paid sources
    • 1.4.2.2 Public sources

Chapter 2 Executive Summary

• 2.1 Industry 360° synopsis

Chapter 3 Industry Insights

• 3.1 Industry ecosystem analysis
  • 3.1.1 Key manufacturers
  • 3.1.2 Distributors
  • 3.1.3 Profit margins across the industry
• 3.2 Industry impact forces
  • 3.2.1 Growth drivers
  • 3.2.2 Market challenges
  • 3.2.3 Market opportunity
    • 3.2.3.1 New opportunities
    • 3.2.3.2 Growth potential analysis
• 3.3 Raw material landscape
  • 3.3.1.1 Manufacturing trends
  • 3.3.1.2 Technology evolution
  • 3.3.1.3 Sustainability in raw materials
• 3.4 Sustainable manufacturing
  • 3.4.1.1 Green practices
  • 3.4.1.2 Decarbonization
• 3.5 Pricing trends (USD/Ton), 2021 to 2032
  • 3.5.1.1 North America
  • 3.5.1.2 Europe
  • 3.5.1.3 Asia Pacific
  • 3.5.1.4 Latin America
  • 3.5.1.5 Middle East & Africa
• 3.6 Regulations & market impact
• 3.7 Porter's analysis
• 3.8 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

• 4.1 Introduction
• 4.2 Company matrix analysis
• 4.3 Company market share analysis
  • 4.3.1 Company Market share analysis by region
    • 4.3.1.1 North America
    • 4.3.1.2 Europe
    • 4.3.1.3 Asia Pacific
    • 4.3.1.4 Latin America
    • 4.3.1.5 Middle East Africa
• 4.4 Competitive positioning matrix
• 4.5 Strategic dashboard

Chapter 5 Market Size and Forecast, By Source of Feedstock, 2021-2032 (USD Billion, Kilo Tons)

• 5.1 Key trends
• 5.2 Food and feed crops
  • 5.2.1 Soybean oil
  • 5.2.2 Canola oil
  • 5.2.3 Sunflower oil
  • 5.2.4 Palm oil
  • 5.2.5 Others
• 5.3 Animal fats
  • 5.3.1 Tallow
  • 5.3.2 Lard
• 5.4 Used cooking oils
• 5.5 Palm oil mill effluent
• 5.6 Others (non-edible vegetable oil, algae oils, and refining byproducts)

Chapter 6 Market Size and Forecast, By Grade, 2021-2032 (USD Billion, Kilo Tons)

• 6.1 Key trends
• 6.2 Class 1: premium grade HVO
• 6.3 Class 2: standard grade HVO
• 6.4 Class 3: basic grade HVO
• 6.5 Class 4: specialty grade HVO

Chapter 7 Market Size and Forecast, By Technology Type, 2021-2032 (USD Billion, Kilo Tons)

• 7.1 Key trends
• 7.2 Standalone hydrotreating technology
• 7.3 Co-processing technology

Chapter 8 Market Size and Forecast, By Application, 2021-2032 (USD Billion, Kilo Tons)

• 8.1 Key trends
• 8.2 Sustainable aviation fuel
• 8.3 Automotive fuel
• 8.4 Marine fuel
• 8.5 Industrial power generation
• 8.6 Heating fuel
• 8.7 Agricultural equipment fuel
• 8.8 Lubricants

Chapter 9 Market Size and Forecast, By Region, 2021-2032 (USD Billion, Kilo Tons)

• 9.1 Key trends
• 9.2 North America
  • 9.2.1 U.S.
  • 9.2.2 Canada
• 9.3 Europe
  • 9.3.1 Germany
  • 9.3.2 UK
  • 9.3.3 France
  • 9.3.4 Italy
  • 9.3.5 Spain
• 9.4 Asia Pacific
  • 9.4.1 China
  • 9.4.2 India
  • 9.4.3 Japan
  • 9.4.4 South Korea
  • 9.4.5 Australia
• 9.5 Latin America
  • 9.5.1 Brazil
  • 9.5.2 Mexico
  • 9.5.3 Argentina
• 9.6 MEA
  • 9.6.1 Saudi Arabia
  • 9.6.2 UAE
  • 9.6.3 South Africa

Chapter 10 Company Profiles

• 10.1 ALFA LAVAL
• 10.2 Cepsa
• 10.3 Desmet
• 10.4 DIAMOND GREEN DIESEL
• 10.5 Neste
• 10.6 Preem
• 10.7 Repsol
• 10.8 Shell
• 10.9 TotalEnergies
• 10.10 UPM Biofuels
• 10.11 Valero Energy
• 10.12 World Energy