Revenue forecast for global biodiesel market at US$70 billion

A market research report entitled, Biodiesel World Market Outlook 2011 published by Merchant Research & Consulting, a market research company, projects that revenues for the worldwide biodiesel market will reach US$70 billion.  It estimated that the global diesel market revenues for biodiesel would be US$18 billion in 2010.  In the report there are analysts’ projections for global, regional and national biodiesel markets of biodiesel.  Other forecasts are that new technology will drive the  future of the biodiesel industry and new feedstock sources such as waste grease, algae and jatropha will be important to the markets’ continued growth. (June 8, 2011)