This report provides a comprehensive analysis of the global Hydrotreated Vegetable Oil (HVO) and Hydroprocessed Esters and Fatty Acids (HEFA) market, projecting significant growth through 2032. As a renewable, drop-in diesel alternative, HVO/HEFA is driven by its high cetane number and compatibility with existing engines. The study examines market dynamics across various types, such as vegetable and animal-sourced fats, and applications including vehicles and industrial power systems. Furthermore, it evaluates regional trends, competitive landscapes, and key industry players shaping this accelerating sector.

Market Overview

Global Market Projections

The global HVO or HEFA market size is predicted to grow from US$ 19570 million in 2025 to US$ 56600 million in 2032, representing a compound annual growth rate (CAGR) of 16.7% from 2026 to 2032.

Product Definition and Characteristics

HEFA (Hydroprocessed Esters and Fatty Acids), also referred to as HVO (Hydrotreated Vegetable Oil), is a renewable diesel fuel produced from a diverse range of vegetable oils and fats. The terms HEFA and HVO are used collectively to describe these biogenic hydrocarbon-based renewable biofuels.

Key properties of HVO include:

• Composition: Free of aromatics and sulfur.
• Performance: High cetane number.
• Compatibility: It is a "drop-in" fuel, meaning it is chemically equivalent to fossil diesel fuel and can be utilized in existing diesel engines without encountering technical blend walls.

Primary Challenge:

• A significant challenge facing HVO production is the procurement of sufficient suitable and sustainable feedstock.

Regional Market Outlook

• United States: The market for HVO or HEFA in the United States is expected to experience growth throughout the forecast period from 2025 to 2032.
• China: The market for HVO or HEFA in China is projected to expand significantly between 2025 and 2032.
• Europe: The European market for HVO or HEFA is anticipated to see an increase in market value from 2025 through 2032.

Report Scope and Methodology

Research Overview

The “HVO or HEFA Industry Forecast” by LP Information, Inc. (LPI) examines past sales and reviews total global HVO or HEFA sales in 2025. The report provides a comprehensive analysis of projected HVO or HEFA sales for the period of 2026 through 2032, broken down by region, market sector, and sub-sector. All financial analyses are provided in US$ millions.

Analytical Depth

This Insight Report delivers a comprehensive analysis of the global HVO or HEFA landscape, highlighting critical trends regarding:

• Product segmentation
• Company formation
• Revenue and market share
• Latest developments
• M&A activity

Furthermore, the report analyzes the strategies of leading global companies, focusing on their HVO or HEFA portfolios and capabilities, market entry strategies, market positions, and geographic footprints to understand their unique standing in an accelerating global market.

The study evaluates key market trends, drivers, and affecting factors shaping the global outlook. Using a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, the report forecasts the market by Type, Application, geography, and market size to identify emerging pockets of opportunity.

Market Segmentation

By Type

• Animal-Sourced Fats
• Vegetable-Sourced Oils

By Application

• Vehicle
• Generator
• Industrial Power System
• Other

By Region

• Americas: United States, Canada, Mexico, Brazil
• APAC: China, Japan, Korea, Southeast Asia, India, Australia
• Europe: Germany, France, UK, Italy, Russia
• Middle East & Africa: Egypt, South Africa, Israel, Turkey, GCC Countries

Competitive Landscape

Market Share and Key Players

The report identifies key global HVO or HEFA players, including Neste Oil, Total S.A., Eni, Renewable Energy Group, and Preem. In 2025, the two largest companies in the sector occupied a significant portion of the global market share.

Profiled Companies

The following companies have been profiled based on primary expert input and analysis of their market coverage, product portfolio, and market penetration:

• Neste Oil
• Total S.A.
• Eni
• Renewable Energy Group
• Preem
• Diamond Green Diesel
• UPM Biofuels
• REG
• Emerald Biofuels
• World Energy
• ConocoPhillips
• Repsol
• Cepsa
• NextChem
• Axens
• Colabitoil
• Haldor Topsoe
• Ryze Renewables
• BP
• PetroBras
• Nippon Oil

Key Questions Addressed

• What is the 10-year outlook for the global HVO or HEFA market?
• What factors are driving HVO or HEFA market growth, globally and by region?
• Which technologies are poised for the fastest growth by market and region?
• How do HVO or HEFA market opportunities vary by end market size?
• How does HVO or HEFA break out by Type and by Application?

• 1 Scope of the Report

  • 1.1 Market Introduction

  • 1.2 Years Considered

  • 1.3 Research Objectives

  • 1.4 Market Research Methodology

  • 1.5 Research Process and Data Source

  • 1.6 Economic Indicators

  • 1.7 Currency Considered

  • 1.8 Market Estimation Caveats

• 2 Executive Summary

  • 2.1 World Market Overview

    • 2.1.1 Global HVO or HEFA Annual Sales 2021-2032

    • 2.1.2 World Current & Future Analysis for HVO or HEFA by Geographic Region, 2021, 2025 & 2032

    • 2.1.3 World Current & Future Analysis for HVO or HEFA by Country/Region, 2021, 2025 & 2032

  • 2.2 HVO or HEFA Segment by Type

    • 2.2.1 Animal-Sourced Fats

    • 2.2.2 Vegetable-Sourced Oils

    • 2.2.3 HVO or HEFA Sales by Type

      • 2.2.3.1 Global HVO or HEFA Sales Market Share by Type (2021-2026)
      • 2.2.3.2 Global HVO or HEFA Revenue and Market Share by Type (2021-2026)
      • 2.2.3.3 Global HVO or HEFA Sale Price by Type (2021-2026)

  • 2.3 HVO or HEFA Segment by Application

    • 2.3.1 Vehicle

    • 2.3.2 Generator

    • 2.3.3 Industrial Power System

    • 2.3.4 Other

    • 2.3.5 HVO or HEFA Sales by Application

      • 2.3.5.1 Global HVO or HEFA Sale Market Share by Application (2021-2026)
      • 2.3.5.2 Global HVO or HEFA Revenue and Market Share by Application (2021-2026)
      • 2.3.5.3 Global HVO or HEFA Sale Price by Application (2021-2026)

• 3 Global by Company

  • 3.1 Global HVO or HEFA Breakdown Data by Company

    • 3.1.1 Global HVO or HEFA Annual Sales by Company (2021-2026)

    • 3.1.2 Global HVO or HEFA Sales Market Share by Company (2021-2026)

  • 3.2 Global HVO or HEFA Annual Revenue by Company (2021-2026)

    • 3.2.1 Global HVO or HEFA Revenue by Company (2021-2026)

    • 3.2.2 Global HVO or HEFA Revenue Market Share by Company (2021-2026)

  • 3.3 Global HVO or HEFA Sale Price by Company

  • 3.4 Key Manufacturers HVO or HEFA Producing Area Distribution, Sales Area, Product Type

    • 3.4.1 Key Manufacturers HVO or HEFA Product Location Distribution

    • 3.4.2 Players HVO or HEFA Products Offered

  • 3.5 Market Concentration Rate Analysis

    • 3.5.1 Competition Landscape Analysis

    • 3.5.2 Concentration Ratio (CR3, CR5 and CR10) & (2024-2026)

  • 3.6 New Products and Potential Entrants

  • 3.7 Market M&A Activity & Strategy

• 4 World Historic Review for HVO or HEFA by Geographic Region

  • 4.1 World Historic HVO or HEFA Market Size by Geographic Region (2021-2026)

    • 4.1.1 Global HVO or HEFA Annual Sales by Geographic Region (2021-2026)

    • 4.1.2 Global HVO or HEFA Annual Revenue by Geographic Region (2021-2026)

  • 4.2 World Historic HVO or HEFA Market Size by Country/Region (2021-2026)

    • 4.2.1 Global HVO or HEFA Annual Sales by Country/Region (2021-2026)

    • 4.2.2 Global HVO or HEFA Annual Revenue by Country/Region (2021-2026)

  • 4.3 Americas HVO or HEFA Sales Growth

  • 4.4 APAC HVO or HEFA Sales Growth

  • 4.5 Europe HVO or HEFA Sales Growth

  • 4.6 Middle East & Africa HVO or HEFA Sales Growth

• 5 Americas

  • 5.1 Americas HVO or HEFA Sales by Country

    • 5.1.1 Americas HVO or HEFA Sales by Country (2021-2026)

    • 5.1.2 Americas HVO or HEFA Revenue by Country (2021-2026)

  • 5.2 Americas HVO or HEFA Sales by Type (2021-2026)

  • 5.3 Americas HVO or HEFA Sales by Application (2021-2026)

  • 5.4 United States

  • 5.5 Canada

  • 5.6 Mexico

  • 5.7 Brazil

• 6 APAC

  • 6.1 APAC HVO or HEFA Sales by Region

    • 6.1.1 APAC HVO or HEFA Sales by Region (2021-2026)

    • 6.1.2 APAC HVO or HEFA Revenue by Region (2021-2026)

  • 6.2 APAC HVO or HEFA Sales by Type (2021-2026)

  • 6.3 APAC HVO or HEFA Sales by Application (2021-2026)

  • 6.4 China

  • 6.5 Japan

  • 6.6 South Korea

  • 6.7 Southeast Asia

  • 6.8 India

  • 6.9 Australia

  • 6.10 China Taiwan

• 7 Europe

  • 7.1 Europe HVO or HEFA by Country

    • 7.1.1 Europe HVO or HEFA Sales by Country (2021-2026)

    • 7.1.2 Europe HVO or HEFA Revenue by Country (2021-2026)

  • 7.2 Europe HVO or HEFA Sales by Type (2021-2026)

  • 7.3 Europe HVO or HEFA Sales by Application (2021-2026)

  • 7.4 Germany

  • 7.5 France

  • 7.6 UK

  • 7.7 Italy

  • 7.8 Russia

• 8 Middle East & Africa

  • 8.1 Middle East & Africa HVO or HEFA by Country

    • 8.1.1 Middle East & Africa HVO or HEFA Sales by Country (2021-2026)

    • 8.1.2 Middle East & Africa HVO or HEFA Revenue by Country (2021-2026)

  • 8.2 Middle East & Africa HVO or HEFA Sales by Type (2021-2026)

  • 8.3 Middle East & Africa HVO or HEFA Sales by Application (2021-2026)

  • 8.4 Egypt

  • 8.5 South Africa

  • 8.6 Israel

  • 8.7 Turkey

  • 8.8 GCC Countries

• 9 Market Drivers, Challenges and Trends

  • 9.1 Market Drivers & Growth Opportunities

  • 9.2 Market Challenges & Risks

  • 9.3 Industry Trends

• 10 Manufacturing Cost Structure Analysis

  • 10.1 Raw Material and Suppliers

  • 10.2 Manufacturing Cost Structure Analysis of HVO or HEFA

  • 10.3 Manufacturing Process Analysis of HVO or HEFA

  • 10.4 Industry Chain Structure of HVO or HEFA

• 11 Marketing, Distributors and Customer

  • 11.1 Sales Channel

    • 11.1.1 Direct Channels

    • 11.1.2 Indirect Channels

  • 11.2 HVO or HEFA Distributors

  • 11.3 HVO or HEFA Customer

• 12 World Forecast Review for HVO or HEFA by Geographic Region

  • 12.1 Global HVO or HEFA Market Size Forecast by Region

    • 12.1.1 Global HVO or HEFA Forecast by Region (2027-2032)

    • 12.1.2 Global HVO or HEFA Annual Revenue Forecast by Region (2027-2032)

  • 12.2 Americas Forecast by Country (2027-2032)

  • 12.3 APAC Forecast by Region (2027-2032)

  • 12.4 Europe Forecast by Country (2027-2032)

  • 12.5 Middle East & Africa Forecast by Country (2027-2032)

  • 12.6 Global HVO or HEFA Forecast by Type (2027-2032)

  • 12.7 Global HVO or HEFA Forecast by Application (2027-2032)

• 13 Key Players Analysis

  • 13.1 Neste Oil

    • 13.1.1 Neste Oil Company Information

    • 13.1.2 Neste Oil HVO or HEFA Product Portfolios and Specifications

    • 13.1.3 Neste Oil HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.1.4 Neste Oil Main Business Overview

    • 13.1.5 Neste Oil Latest Developments

  • 13.2 Total S.A.

    • 13.2.1 Total S.A. Company Information

    • 13.2.2 Total S.A. HVO or HEFA Product Portfolios and Specifications

    • 13.2.3 Total S.A. HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.2.4 Total S.A. Main Business Overview

    • 13.2.5 Total S.A. Latest Developments

  • 13.3 Eni

    • 13.3.1 Eni Company Information

    • 13.3.2 Eni HVO or HEFA Product Portfolios and Specifications

    • 13.3.3 Eni HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.3.4 Eni Main Business Overview

    • 13.3.5 Eni Latest Developments

  • 13.4 Renewable Energy Group

    • 13.4.1 Renewable Energy Group Company Information

    • 13.4.2 Renewable Energy Group HVO or HEFA Product Portfolios and Specifications

    • 13.4.3 Renewable Energy Group HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.4.4 Renewable Energy Group Main Business Overview

    • 13.4.5 Renewable Energy Group Latest Developments

  • 13.5 Preem

    • 13.5.1 Preem Company Information

    • 13.5.2 Preem HVO or HEFA Product Portfolios and Specifications

    • 13.5.3 Preem HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.5.4 Preem Main Business Overview

    • 13.5.5 Preem Latest Developments

  • 13.6 Diamond Green Diesel

    • 13.6.1 Diamond Green Diesel Company Information

    • 13.6.2 Diamond Green Diesel HVO or HEFA Product Portfolios and Specifications

    • 13.6.3 Diamond Green Diesel HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.6.4 Diamond Green Diesel Main Business Overview

    • 13.6.5 Diamond Green Diesel Latest Developments

  • 13.7 UPM Biofuels

    • 13.7.1 UPM Biofuels Company Information

    • 13.7.2 UPM Biofuels HVO or HEFA Product Portfolios and Specifications

    • 13.7.3 UPM Biofuels HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.7.4 UPM Biofuels Main Business Overview

    • 13.7.5 UPM Biofuels Latest Developments

  • 13.8 REG

    • 13.8.1 REG Company Information

    • 13.8.2 REG HVO or HEFA Product Portfolios and Specifications

    • 13.8.3 REG HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.8.4 REG Main Business Overview

    • 13.8.5 REG Latest Developments

  • 13.9 Emerald Biofuels

    • 13.9.1 Emerald Biofuels Company Information

    • 13.9.2 Emerald Biofuels HVO or HEFA Product Portfolios and Specifications

    • 13.9.3 Emerald Biofuels HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.9.4 Emerald Biofuels Main Business Overview

    • 13.9.5 Emerald Biofuels Latest Developments

  • 13.10 World Energy

    • 13.10.1 World Energy Company Information

    • 13.10.2 World Energy HVO or HEFA Product Portfolios and Specifications

    • 13.10.3 World Energy HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.10.4 World Energy Main Business Overview

    • 13.10.5 World Energy Latest Developments

  • 13.11 ConocoPhillips

    • 13.11.1 ConocoPhillips Company Information

    • 13.11.2 ConocoPhillips HVO or HEFA Product Portfolios and Specifications

    • 13.11.3 ConocoPhillips HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.11.4 ConocoPhillips Main Business Overview

    • 13.11.5 ConocoPhillips Latest Developments

  • 13.12 Repsol

    • 13.12.1 Repsol Company Information

    • 13.12.2 Repsol HVO or HEFA Product Portfolios and Specifications

    • 13.12.3 Repsol HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.12.4 Repsol Main Business Overview

    • 13.12.5 Repsol Latest Developments

  • 13.13 Cepsa

    • 13.13.1 Cepsa Company Information

    • 13.13.2 Cepsa HVO or HEFA Product Portfolios and Specifications

    • 13.13.3 Cepsa HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.13.4 Cepsa Main Business Overview

    • 13.13.5 Cepsa Latest Developments

  • 13.14 NextChem

    • 13.14.1 NextChem Company Information

    • 13.14.2 NextChem HVO or HEFA Product Portfolios and Specifications

    • 13.14.3 NextChem HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.14.4 NextChem Main Business Overview

    • 13.14.5 NextChem Latest Developments

  • 13.15 Axens

    • 13.15.1 Axens Company Information

    • 13.15.2 Axens HVO or HEFA Product Portfolios and Specifications

    • 13.15.3 Axens HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.15.4 Axens Main Business Overview

    • 13.15.5 Axens Latest Developments

  • 13.16 Colabitoil

    • 13.16.1 Colabitoil Company Information

    • 13.16.2 Colabitoil HVO or HEFA Product Portfolios and Specifications

    • 13.16.3 Colabitoil HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.16.4 Colabitoil Main Business Overview

    • 13.16.5 Colabitoil Latest Developments

  • 13.17 Haldor Topsoe

    • 13.17.1 Haldor Topsoe Company Information

    • 13.17.2 Haldor Topsoe HVO or HEFA Product Portfolios and Specifications

    • 13.17.3 Haldor Topsoe HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.17.4 Haldor Topsoe Main Business Overview

    • 13.17.5 Haldor Topsoe Latest Developments

  • 13.18 Ryze Renewables

    • 13.18.1 Ryze Renewables Company Information

    • 13.18.2 Ryze Renewables HVO or HEFA Product Portfolios and Specifications

    • 13.18.3 Ryze Renewables HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.18.4 Ryze Renewables Main Business Overview

    • 13.18.5 Ryze Renewables Latest Developments

  • 13.19 BP

    • 13.19.1 BP Company Information

    • 13.19.2 BP HVO or HEFA Product Portfolios and Specifications

    • 13.19.3 BP HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.19.4 BP Main Business Overview

    • 13.19.5 BP Latest Developments

  • 13.20 PetroBras

    • 13.20.1 PetroBras Company Information

    • 13.20.2 PetroBras HVO or HEFA Product Portfolios and Specifications

    • 13.20.3 PetroBras HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.20.4 PetroBras Main Business Overview

    • 13.20.5 PetroBras Latest Developments

  • 13.21 Nippon Oil

    • 13.21.1 Nippon Oil Company Information

    • 13.21.2 Nippon Oil HVO or HEFA Product Portfolios and Specifications

    • 13.21.3 Nippon Oil HVO or HEFA Sales, Revenue, Price and Gross Margin (2021-2026)

    • 13.21.4 Nippon Oil Main Business Overview

    • 13.21.5 Nippon Oil Latest Developments

• 14 Research Findings and Conclusion