India is likely to outpace Asia’s growth in biodiesel, according to Lux Research’s new report, titled ‘Planning for the long-term in Asia Pacific alternative fuel markets’. Indonesia, China and Malaysia are the three dominant nations in biodiesel, each driven by challenging mandates.
Indonesia is targeting 20% adoption by 2025 while Malaysia positions itself to be a dominant exporter with 143 MGY in 2015. India’s growth, however, at an impressive 18.5% compounded annual growth rate (CAGR) through 2017, will outpace the rest of the region, which will post a 3.9% CAGR through 2017.
Driven by aggressive mandates, government support and cost advantages, China and India – the world’s two most populous countries – dominate Asia’s alternative fuels landscape, according to Lux Research. However, even strong growth will leave these nations short of their self-imposed targets.