加氢处理植物油（HVO）全球市场、产能、需求、平均价格及产业展望（至2034年）

加氢处理植物油（HVO）

近年来，由于人们对永续性、减碳和能源多元化的日益关注，全球加氢处理植物油（HVO）市场呈现快速成长态势。 HVO又称可再生柴油，是透过植物油和废弃油脂的水解过程生产的。其化学成分与化石柴油燃料相同，但温室气体排放显着降低。 HVO被认为是一种“直接替代燃料”，这意味着它可以直接替代传统柴油，无需对引擎进行任何改造。这种相容性，加上各地区对生质燃料和脱碳目标的强力政策支持，正在加速HVO在多个产业的应用。向可再生燃料的转型在运输和航空业尤为明显，HVO是实现净零排放目标的关键组成部分。全球HVO市场不仅规模不断扩大，而且在原料来源、产能和终端应用方面也日益多元化，这反映出能源生态系统正朝着更循环和永续的方向显着转变。

需求：依细分市场划分

加氢处理植物油 (HVO) 的需求可分为多个产品类别，包括可再生柴油、永续航空燃料 (SAF)、生物石脑油和生物液化石油气 (Bio-LPG)。由于可再生柴油在运输和物流领域的广泛应用，它仍然是最大且成长最快的细分市场。车队和公共交通系统优先采用再生柴油，因为它在提供与传统柴油相当的性能的同时，还能显着减少排放。永续航空燃料 (SAF) 是 HVO 市场的另一个主要成长领域。随着全球航空公司和航空管理机构大力推动碳中和运营，HVO 衍生的 SAF 正在成为航空旅行脱碳的关键推动因素。虽然生物石脑油和生物液化石油气的市场份额较小，但它们作为石化和能源行业的可再生原料发挥着重要作用，支持向更环保的化学品生产和供暖应用转型。营运中可再生燃料的日益普及以及政府相关法规的支持，持续增强了 HVO 市场的整体需求结构。

市场驱动因素

全球HVO市场的主要驱动力之一是日益增强的脱碳和永续燃料推广监管。世界各国政府正在实施严格的碳排放目标和可再生能源强制规定，迫使各产业和消费者采用更清洁的替代燃料。 HVO无需基础设施改造即可即时减少碳排放，使其成为能源转型中极具实用性的选择。利用废油、动物脂肪和残渣等循环经济原则的日益普及进一步增强了HVO的吸引力。此外，航空业对永续航空燃料（SAF）的坚定承诺也为HVO的需求提供了长期动力。航空公司面临减少排放的压力，而SAF则提供了直接且扩充性的解决方案。可再生炼油厂的扩张、加氢处理流程的技术改进以及对废弃物衍生原料供应链投资的增加也显着促进了市场成长。环境法规、产业创新和企业永续性目标的整体协调一致，为全球HVO市场的长期扩张奠定了坚实的基础。

市场限制

儘管HVO市场发展前景良好，但仍面临许多挑战，可能阻碍其成长。其中最主要的挑战是永续原料供应有限且成本高。随着HVO需求的成长，对废弃食用油、奶油和其他残渣等原料的竞争日益激烈，可能导致供应瓶颈和价格波动。此外，HVO生产需要复杂的加氢处理基础设施和大量资本投资，使得小型生产商难以进入市场。市场也面临政府政策和补贴计画的不确定性。奖励措施和可再生能源强制性规定的波动可能会影响盈利和计划可行性。另一个限制因素是关于HVO作为食品和燃料用途的持续争论。在HVO生产中使用初榨植物油引发了人们永续性的担忧。此外，物流的挑战，例如扩大分销网络和确保各地区燃料品质的一致性，仍然是营运障碍。虽然持续的技术创新和国际合作有望随着时间的推移解决其中许多限制，但它们目前仍然是HVO市场快速均衡成长的障碍。

本报告分析了全球加氢处理植物油 (HVO) 市场，提供了市场动态和行业趋势、各细分市场的需求预测以及製造商概况等资讯。

目录

第一章 引言

第二章 市场摘要

• 市场演变
• 供需概览
• 产业结构
• 战略问题
• 最终用途趋势
• 成长预测

第三章 经济与能源展望

• 国内生产毛额与人口统计数据
• 货币和财政政策
• 原油产量和价格
• 天然气
• 电费

第四章 最终使用者部门绩效

• 运输
• 工业
• 其他的

第五章 产能（工厂和计划）分析

• 公司生产能力
• 按国家/地区分類的生产能力
• 按地区/国家分類的生产能力概览

6. 加氢处理植物油 (HVO) 简介及市场概况

• 产品描述
• 等级和特点
• 原料
• 製造过程
• 环境问题
• 价值链
• 目的

第七章 市场动态与产业趋势

• 市场动态
  • 司机
  • 抑制因素
  • 机会
  • 任务

第八章 全球加氢处理植物油（HVO）按应用领域分類的供需分析（数量和价值）（2018-2034 年）

• 战略问题
• 供需分析与预测（2018-2034）
  • 生产能力
  • 运转率
  • 生产
  • 净出口
  • 要求
  • 需求成长率
  • 驱动因素分析
• 全球加氢处理植物油 (HVO) 市场按应用领域划分
• 可再生柴油
• 永续航空燃料 (SAF)
• 生物石脑油/可再生汽油
• 生物液化石油气
• 其他的

9. 各地区/国家供需分析及市场概览（数量和价值）（2018-2034 年）

• 战略问题
• 生产能力
• 运转率
• 生产
• 净出口
• 要求
• 需求成长率
• 按应用领域分類的加氢处理植物油 (HVO) 市场
• 北美洲
• 美国
• 加拿大
• 墨西哥
• 西欧
• 德国
• 法国
• 义大利
• 英国
• 西班牙
• 其他西欧国家
• 中欧/东欧
• 俄罗斯
• 波兰
• 其他中欧和东欧国家
• 亚太地区
• 中国
• 日本
• 印度
• 韩国
• 亚太其他地区
• 拉丁美洲
• 中东和非洲

第十章：定价分析

• 加氢处理植物油（HVO）平均价格
• 各地区平均价格
• 价格预测

第十一章 关键策略问题

第十二章：机会评估

• 市场吸引力评估
• 潜在客户与目标市场研究

第十三章：战略建议与提案

第十四章 公司分析

• 加氢处理植物油 (HVO) 生产商概况/公司分析
  • 基本讯息
  • 总部、主要市场
  • 拥有
  • 企业融资
  • 製造地
  • 全球销售
  • 员工总数
  • 产品系列/服务/解决方案
  • 最新进展
  • 目标公司
• Neste
• Total
• UPM Biofuels
• World Energy
• Repsol
• Valero
• Wilmar
• Pertamina
• Yzchem
• Ryze Renewables
• 其他製造商

第十五章附录

Hydrogenated Vegetable Oil (HVO)-

The global Hydrotreated Vegetable Oil (HVO) market has witnessed rapid expansion in recent years, driven by the growing focus on sustainability, carbon reduction, and energy diversification. HVO, also known as renewable diesel, is produced by hydrotreating vegetable oils or waste fats to create a fuel chemically identical to fossil diesel but with significantly lower greenhouse gas emissions. It is considered a "drop-in" fuel, meaning it can directly replace conventional diesel without the need for engine modifications. This compatibility, combined with strong policy support for biofuels and decarbonization targets across regions, has accelerated HVO adoption in multiple sectors. The transition toward renewable fuels is particularly visible in the transportation and aviation industries, where HVO is a crucial component in achieving net-zero goals. The global HVO market is not only expanding in scale but also diversifying in its feedstock sources, production capacities, and end-use applications, reflecting a robust shift toward a more circular and sustainable energy ecosystem.

Demand by Segments

The demand for Hydrotreated Vegetable Oil is categorized into several product segments, including renewable diesel, sustainable aviation fuels (SAF), bio-naphtha, bio-LPG, and others. Renewable diesel remains the largest and fastest-growing segment due to its wide acceptance in transportation and logistics applications. It provides identical performance to conventional diesel but contributes to significant emission reductions, making it a preferred option for fleets and public transport systems. Sustainable Aviation Fuel (SAF) represents another major growth area within the HVO landscape. With global airlines and aviation authorities pushing for carbon-neutral operations, SAF derived from HVO is emerging as a key enabler for decarbonizing air travel. Bio-naphtha and bio-LPG, although smaller in market share, play critical roles as renewable feedstocks in the petrochemical and energy sectors, supporting the transition toward greener chemical manufacturing and heating applications. The growing adoption of renewable fuels in industrial operations, coupled with supportive government mandates, continues to enhance the overall demand structure of the HVO market.

Regional Demand Analysis

Regionally, Europe leads the global HVO market, propelled by strong regulatory frameworks, blending mandates, and significant investments in biofuel infrastructure. The European Union's Renewable Energy Directive (RED II) and Fit-for-55 package have positioned the region as a global hub for renewable diesel and SAF production. Countries like Finland, Sweden, Italy, and Spain are among the early adopters, with companies like NESTE and Eni spearheading large-scale production facilities. North America follows closely, driven by the United States and Canada's low carbon fuel standards (LCFS) and increasing investments in renewable refineries. The U.S., in particular, has witnessed a surge in HVO capacity expansion, with several refiners converting fossil fuel units into renewable fuel plants. In Asia-Pacific, countries such as China, Japan, and Singapore are emerging as key markets, supported by policy incentives and growing awareness of sustainable fuel options. Meanwhile, Latin America and the Middle East are showing early signs of adoption, focusing on renewable diesel exports and regional sustainability initiatives. Overall, the geographical expansion of HVO production and consumption reflects a global movement toward energy transition and emission reduction.

Key Manufacturers

The global Hydrotreated Vegetable Oil market is dominated by several major players actively investing in production capacity expansion, feedstock diversification, and technological innovation. NESTE Oyj is currently the world's largest HVO producer, with facilities in Finland, Singapore, and the Netherlands. The company's extensive global presence and focus on waste and residue-based feedstocks set an industry benchmark for sustainability. Eni S.p.A., CEPSA, and Repsol are among Europe's prominent producers, leveraging existing refining infrastructure to scale up renewable diesel and SAF output. UPM has also emerged as a key player through its bio-based solutions, particularly in renewable diesel derived from tall oil. In North America, companies such as Phillips 66, TotalEnergies, and BP PLC are converting conventional refineries into biofuel plants to strengthen their low-carbon portfolios. In Asia, Sinopec has been exploring large-scale renewable diesel production to meet domestic energy transition goals. Diamond Green Diesel, a joint venture between Darling Ingredients and Valero Energy, stands out as one of the largest renewable diesel producers in the U.S. The collective efforts of these companies highlight a growing competitive landscape shaped by capacity additions, feedstock innovations, and strategic partnerships.

Market Driver

One of the primary drivers of the global HVO market is the increasing regulatory push toward decarbonization and sustainable fuel adoption. Governments across the globe are implementing stringent carbon emission targets and renewable energy mandates, compelling industries and consumers to adopt cleaner alternatives. HVO's ability to deliver immediate carbon reduction without infrastructure changes makes it a highly practical choice for energy transition. The growing focus on circular economy principles-using waste oils, animal fats, and residues as feedstocks-further strengthens its appeal. Additionally, the aviation industry's strong commitment to Sustainable Aviation Fuel is providing long-term momentum to HVO demand. Airlines are under pressure to reduce emissions, and SAF offers a direct and scalable solution. The expansion of renewable refineries, technological improvements in hydrotreatment processes, and increasing investments in waste-based feedstock supply chains also contribute significantly to market growth. The overall alignment of environmental regulations, industrial innovation, and corporate sustainability goals is creating a strong foundation for the global HVO market's long-term expansion.

Market Restraint

Despite its promising growth trajectory, the HVO market faces several challenges that could restrain its development. The most critical among these is the limited availability and high cost of sustainable feedstocks. As demand for HVO rises, competition for raw materials such as used cooking oil, tallow, and other residues is intensifying, leading to potential supply bottlenecks and price volatility. Moreover, HVO production requires complex hydrotreating infrastructure and significant capital investments, making entry difficult for smaller producers. The market also faces uncertainty regarding government policies and subsidy structures, as fluctuations in incentives or renewable mandates can impact profitability and project viability. Another restraint is the ongoing debate between food and fuel usage, as the use of virgin vegetable oils for HVO production raises sustainability concerns. Additionally, logistical challenges in scaling distribution networks and ensuring consistent fuel quality across regions remain operational hurdles. While continuous technological innovation and global collaboration are expected to address many of these constraints over time, these factors presently pose barriers to the rapid and uniform growth of the HVO market.

Table of Contents

1. Introduction

• Scope
• Market Coverage
  • Applications
  • Regions
  • Countries
• Years Considered
  • Historical - 2018 - 2023
  • Base - 2024
  • Forecast Period - 2025 - 2034
• Research Methodology
  • Approach
  • Research Methodology
  • Prismane Consulting Market Models
  • Assumptions & Limitations
  • Abbreviations & Definitions
  • Conversion Factors
  • Data Sources

2. Market Synopsis

• Market Evolution
• Demand-Supply Overview
• Industry Structure
• Strategic Issues
• End-use Trends
• Growth Forecast

3. Economic & Energy Outlook

• GDP and Demographics
• Monetary & Fiscal Policies
• Crude Oil Production and prices
• Natural Gas
• Electricity Prices

4. End-use Sector Performance

• Transportation
• Industrial
• Others

5. Capacity (Plants & Projects) Analysis

• Capacity, by Company
• Capacity, by Country and by region
• Capacity Overview, By Region and Country

6. Introduction to Hydrotreated Vegetable Oil and Market Overview

• Product Description
• Grades & Properties
• Raw Material
• Manufacturing Process
• Environmental Issues
• Value Chain
• Applications

7. Market Dynamics and Industry Trends

• Market Dynamics
  • Drivers
  • Restraints
  • Opportunities
  • Challenges

8. Global Hydrotreated Vegetable Oil Demand-Supply Analysis, By Applications (Volume, Value) (2018-2034)

• Strategic Issues
• Demand-Supply Analysis and Forecast (2018-2034)
  • Capacity
  • Capacity Utilization (%)
  • Production
  • Net Trade
  • Demand
  • Demand Growth Rate (%)
  • Driving Force Analysis
  • Global Hydrotreated Vegetable Oil Market, By Applications
• Renewable Diesel
• SAF (Sustained Aviation Fuel)
• Bio-naphtha / Renewable Gasoline
• Bio-LPG
• Others

9. Demand-Supply Analysis and Market Review, By Region, By Country (Volume, Value), (2018-2034)

• Strategic Issues
• Capacity
• Capacity Utilization (%)
• Production
• Net Trade
• Demand
• Demand Growth Rate (%)
• Hydrotreated Vegetable Oil Market, By Applications

Note: Demand-Supply Analysis has been provided for all major Regions / Countries as mentioned below. The demand (consumption) split by applications has been provided for each of the countries/regions in Volume (Kilo tons) and Value (USD Million).

• North America
• USA
• Canada
• Mexico
• Western Europe
• Germany
• France
• Italy
• United Kingdom
• Spain
• Rest of Western Europe
• Central & Eastern Europe
• Russia
• Poland
• Rest of Central & Eastern Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• Central & South America
• Middle East & Africa

Note: CAGR will be calculated for all applications to arrive at the regional / global Demand-Supply growth for the forecast period (2025 - 2034)

10. Pricing Analysis

• Average Hydrotreated Vegetable Oil Prices, USD/Kg
• Average prices, by region
• Price Forecast

11. Key Strategic Issues

12. Business Opportunity Assessment

• Market Attractiveness Assessment
• Prospective & Target Market Study

13. Strategic Recommendation & Suggestions

14. Company Analysis

• Hydrotreated Vegetable Oil Manufacturers Profiles/ Company Analysis
  • Basic Details
  • Headquarter, Key Markets
  • Ownership
  • Company Financial
  • Manufacturing Bases
  • Global Turnover
  • Total Employee
  • Product Portfolio / Services / Solutions
  • Recent Developments
  • Companies Covered -
• Neste
• Total
• UPM Biofuels
• World Energy
• Repsol
• Valero
• Wilmar
• Pertamina
• Yzchem
• Ryze Renewables
• Other Manufacturers

Note: This section includes company information, company financials, manufacturing bases and operating regions. Company financials have been mentioned only for those companies where financials were available in SEC Filings, annual reports, or company websites. All the reported financials in this report are in U.S. Dollars. Financials reported in other currencies have been converted using average currency conversion rates. Company profiles may include manufacturers, suppliers, and distributors.

15. Appendices

• Demand-Supply - Regions
• Demand-Supply - Countries
• Capacities, 2018-2034