Experts have predicted that China is developing a “lavish” market for biodiesel fueled by huge investments.

Biodiesel demand in China for the coming decade will be driven mainly by the large and fast growth of the car ownership level and pressing concerns of the government in ecological security, according to a new report from Merchant Research & Consulting.

The study entitled, Biodiesel: 2011 World Market Outlook and Forecast up to 2016, notes that the global market for biodiesel is today spurred significantly by the BRIC countries economic developments and wide-spreading ecological advances. Waste grease, algae, and jatropha represent now new biodiesel feedstock sources that are awaited to move the technological field of the industry in future.

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