Currently Europe represents 90% of global biodiesel production and consumption, according to Emerging Markets Online's report, "Biodiesel 2020." But Brazil is expected to surpass both Europe and the U.S. in production by 2015, said William Thurmond, director of management consulting at Emerging Markets Online.
"It is possible that Biodiesel could represent as much as 20% of all on-road diesel used in Brazil, Europe, China and India by the year 2020. If governments continue to aggressively pursue targets -- enact investor-friendly tax incentives for production and blending -- and help to promote research. development in new biodiesel feedstocks such as algae biodiesel, the prospects for biodiesel may become realized faster than anticipated," adds Thurmond.
In Europe, biodiesel represents 2% total on-road transportation fuel consumption and is expected to reach 6% by 2010.
In the U.S. demand is growing quickly with seventy major plants struggling to meet demand, according to the report. Over fifty new, larger-scale plants are in production. The number of retail outlets for biodiesel in the U.S. grew more than three fold -- from 300 in 2005, to over 950 retail sites so far in 2006.
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