Worldwide Demand for Biodiesel Expected to Double in the Next 5 Years

Biofuels usage is not only expanding in the U.S. and Europe, but also in Asia and Latin America. Tammy Klein, Executive Director of Global Biofuels Services for Hart Energy Consulting stated that thirty countries are implementing biofuels targets in 2010, with many of these countries in the developing world encouraging biofuels as a means of building energy security and improving their rural economies.

The Demand for biodiesel is anticipated to double and the supply of Biodiesel is predicted to triple in growth between 2009 and 2015. "Currently there is massive overcapacity on a gloabal basis in the biodiesel industry and utiliztion rates are generally below 50 percent", Klein added. At present, global biodiesel capacity is already capable to supply the demand projected for 2015 of 10 billion gallons per year.

Developing countries hold 17 percent of demand and nearly 50 percent of supply, (mostly for domestic use), and is expected to grow to 42.6 percent demand and 59.2 percent supply by 2015. At this time, thirty countries are utilizing the typical B5 blended biodiesel. Countries in Europe are migrating to a B7 blend and Brazil aiming even higher. Indonesia is contemplating B10. Many Countries are looking to biofuels to create jobs, economic development and domestic energy.

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