Global Biodiesel Market Is to Expand at a 5.4% CAGR Owing to Government Initiatives to Back Eco-Friendly Alternatives
Being a renewable and clean-burning fuel, biodiesel is used on a large scale in various industries including marine, railway, automotive, power generation, mining, etc. Biodiesel is also helping various countries to decrease the dependency on foreign oil reserves as it is being produced domestically and used in a diesel engine with very little or no modification. The government across various countries are also introducing policies supporting the production of biodiesel to reduce emission and create positive economic impact.
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