Good Grease: Global trade for used cooking oil booms as more shift to bio-fuel
According to a recent study by the Clean Fuels Alliance, the global trade for used cooking oil for bio-diesel production reached 4 billion gallons in 2022. The milestone marks a global shift toward sustainable, environmentally friendly fuel.
In a significant development, last year’s global trade in used cooking oil reached an impressive milestone, nearing an astonishing four billion gallons. The Clean Fuels Alliance released a groundbreaking report showcasing the potential for further growth, with bio- and renewable diesel production set to propel this industry into uncharted territory.
According to the report, the worldwide trade in used cooking oil stood at an impressive 3.7 billion gallons in 2022, underlining the growing demand for sustainable fuel alternatives.
However, the most remarkable revelation is that by 2030, the global supply could potentially surge to an astounding five to 10 billion gallons. This increase in supply is expected to play a pivotal role in meeting the surging demand for bio-diesel, renewable diesel, and sustainable aviation fuels throughout the remainder of the decade.
The surge in the used cooking oil trade underscores the global shift towards more sustainable and environmentally friendly fuel sources. As the world grapples with climate change and seeks to reduce carbon emissions, the potential for a five- to 10-billion-gallon supply of alternative fuels offers hope for a cleaner and greener future.