Top 10 Companies in the Global Hydrotreated Vegetable Oil (HVO) Market (2026): Market Leaders Driving Renewable Diesel Growth

The Global Hydrotreated Vegetable Oil (HVO) Market was valued at USD X million in 2025 and is projected to reach USD Y million by 2034, at a CAGR of Z% during the forecast period.
 

Report Overview
Hydrotreated Vegetable Oils (HVO), commonly referred to as renewable diesel and Hydroprocessed Esters and Fatty Acids (HEFA), are produced via hydroprocessing of oils and fats. Hydroprocessing is an alternative to esterification for converting biomass into diesel. HVO/HEFA are straight‑chain paraffinic hydrocarbons that are free of aromatics, oxygen, and sulfur, and boast high cetane numbers. Compared with FAME, HEFA offers lower NOx emissions, better storage stability, and improved cold‑flow properties, making it compatible with all diesel engines and approved for use as aviation bio‑jet fuel.
HVO can be produced from a wide variety of triglyceride‑rich feedstocks, including low‑quality waste and residues, which keeps production costs competitive. The main additional feedstock required is hydrogen, which today is typically sourced from fossil fuels. This report delivers a comprehensive view of the market, covering macro trends, competitive dynamics, niche opportunities, and strategic considerations for investors, manufacturers, and policymakers.

Global Hydrotreated Vegetable Oil (HVO) Market: Market Segmentation Analysis
The study dissects the market by region, manufacturer, technology type, and application. Understanding these segments helps firms tailor product portfolios, pricing, and distribution strategies to capture emerging opportunities.

Key Companies

• Neste
• Diamond Green Diesel
• UPM Biofuels
• REG
• Emerald Biofuels
• Eni
• World Energy
• Total
• ConocoPhillips
• Preem

Market Segmentation (by Type)

• Based on Ecofining Technology
• Based on Co‑Processing Technology
• Other

Market Segmentation (by Application)

• Vehicle
• Generator
• Industrial Power System
• Other

Geographic Segmentation
• North America (USA, Canada, Mexico)
• Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
• Asia‑Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia‑Pacific)
• South America (Brazil, Argentina, Columbia, Rest of South America)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)

Key Benefits of This Market Research

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth
• Historical, current, and projected market size, in terms of value
• In‑depth analysis of the Hydrotreated Vegetable Oil (HVO) Market

Key Reasons to Buy this Report

• Access to date statistics compiled by our researchers, enabling informed decision‑making
• Insights that help you anticipate market changes and stay ahead of competitors
• Ready‑to‑copy data tables for marketing plans and strategic presentations
• Clear graphs and tables that highlight market size and growth potential
• Segment‑level value data and identification of fastest‑growing regions
• Competitive ranking and recent strategic moves of major players
• Company profiles with SWOT analysis and product benchmarking
• Porter’s Five Forces and value‑chain insights
• Post‑sales analyst support for six months

Download FREE Sample Report: Global Hydrotreated Vegetable Oil (HVO) Market – View in Detailed Research Report

🔟 1. Neste

Headquarters: Espoo, Finland
Key Offering: Neste MY Sustainable Diesel and Renewable Jet Fuel

Neste has built a reputation as the world’s most advanced renewable fuel producer, leveraging proprietary hydroprocessing technology to convert waste cooking oil and other low‑grade feedstocks into drop‑in diesel and jet fuel. Its integrated supply chain—from collection to refinery—ensures consistent quality and reduces carbon intensity.

Sustainability Initiatives:

• Targeting 100% renewable diesel production by 2030
• Investing in green hydrogen to decouple hydrogen supply from fossil sources
• Partnerships with logistics hubs to streamline distribution of renewable fuels

9️⃣ 2. Diamond Green Diesel

Headquarters: Eindhoven, Netherlands
Key Offering: Diamond Green Diesel and Bio‑Jet Fuel

Diamond Green Diesel focuses on large‑scale production of renewable diesel using advanced catalytic processes. Its flagship product, Diamond Green Diesel, is marketed as a fully drop‑in replacement for conventional diesel, with a lower carbon footprint and superior cold‑flow performance.

Sustainability Initiatives:

• Expanding feedstock diversity to include algae and municipal waste streams
• Collaborating with EU green‑energy funds to secure financing for new plants
• Implementing digital monitoring for real‑time emissions tracking

8️⃣ 3. UPM Biofuels

Headquarters: Helsinki, Finland
Key Offering: UPM HVO and Renewable Diesel

UPM Biofuels operates a network of HVO plants that process forestry residues and other biomass. Its focus on circular economy principles positions it as a key player in Europe’s transition to low‑carbon mobility solutions.

Sustainability Initiatives:

• Developing a closed‑loop system for waste oil collection across the Nordic region
• Investing in carbon capture and utilization to offset production emissions
• Engaging with local communities to promote sustainable forestry practices

7️⃣ 4. REG

Headquarters: Rotterdam, Netherlands
Key Offering: REG HVO and Renewable Diesel

REG’s portfolio emphasizes high‑quality renewable diesel derived from palm oil and other vegetable oils. The company’s strategic location near major shipping lanes facilitates efficient feedstock transport and product distribution.

Sustainability Initiatives:

• Setting a 30% reduction target for upstream feedstock emissions by 2030
• Partnering with NGOs to ensure sustainable palm oil sourcing
• Deploying blockchain for traceability of feedstock origins

6️⃣ 5. Emerald Biofuels

Headquarters: Houston, Texas, USA
Key Offering: Emerald HVO and Bio‑Jet Fuel

Emerald Biofuels operates a state‑of‑the‑art refinery in the Gulf Coast, specializing in the conversion of soybean oil and other vegetable oils into high‑performance HVO. Its focus on scalability allows it to meet growing demand from the aviation and freight sectors.

Sustainability Initiatives:

• Investing in renewable hydrogen production from electrolyzers
• Collaborating with airlines to pilot blended fuel trials
• Implementing a circular waste‑oil collection program across Texas

5️⃣ 6. Eni

Headquarters: Rome, Italy
Key Offering: Eni HVO and Renewable Diesel

Eni’s renewable division leverages its extensive refining network to produce HVO at scale, integrating bio‑feedstocks into existing petrochemical infrastructure. The company’s strategy focuses on blending renewable diesel with conventional fuel to meet EU mandates.

Sustainability Initiatives:

• Targeting 10% renewable content in all diesel blends by 2030
• Investing in advanced catalysts to improve conversion efficiency
• Partnering with local governments to support renewable feedstock cultivation

4️⃣ 7. World Energy

Headquarters: Rotterdam, Netherlands
Key Offering: World Energy HVO and Renewable Diesel

World Energy’s refinery portfolio includes several HVO plants that process a mix of waste oils and agricultural residues. The company’s emphasis on supply‑chain resilience positions it well in volatile commodity markets.

Sustainability Initiatives:

• Deploying digital twins to optimize refinery operations
• Expanding feedstock sourcing to include algae and micro‑algae cultures
• Engaging in carbon offset projects in the Netherlands

3️⃣ 8. Total

Headquarters: Paris, France
Key Offering: Total HVO and Renewable Diesel

Total’s renewable portfolio spans Europe and North America, with a strong focus on HEFA technology. The company’s integrated approach—from feedstock procurement to end‑user distribution—ensures competitive pricing and high product quality.

Sustainability Initiatives:

• Setting a 15% renewable diesel target for all European operations by 2035
• Investing in green hydrogen projects across France and Germany
• Collaborating with airlines to develop blended fuel supply chains

2️⃣ 9. ConocoPhillips

Headquarters: Houston, Texas, USA
Key Offering: ConocoPhillips HVO and Renewable Diesel

ConocoPhillips is expanding its renewable portfolio through strategic acquisitions and joint ventures. Its focus on high‑grade HVO aligns with the company’s commitment to delivering low‑carbon fuels to the commercial and industrial sectors.

Sustainability Initiatives:

• Integrating renewable hydrogen into existing refinery processes
• Developing a regional feedstock network across the U.S. Midwest
• Partnering with universities to advance catalytic research

1️⃣ 10. Preem

Headquarters: Stockholm, Sweden
Key Offering: Preem HVO and Renewable Diesel

Preem’s HVO production is anchored in its extensive network of refineries across Scandinavia. The company prioritises sustainability certifications and rigorous supply‑chain audits to maintain product integrity.

Sustainability Initiatives:

• Targeting 50% renewable content in all diesel blends by 2030
• Investing in offshore wind‑powered electrolyzers for green hydrogen
• Collaborating with local farmers to secure sustainable feedstock supplies

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🌍 Outlook: The Future of Renewable Diesel

Renewable diesel is emerging as a cornerstone of low‑carbon transportation. The shift is underpinned by tightening emissions regulations, rising fuel costs, and a growing appetite for sustainable mobility solutions. As governments set ambitious decarbonisation targets, the demand for HVO is likely to outpace conventional diesel, especially in regions with robust feedstock supply chains and supportive policy frameworks.

📈 Future Trends Shaping the Market

• Expansion of green hydrogen production to reduce the carbon intensity of HVO.
• Increased adoption of digital supply‑chain platforms for traceability and efficiency.
• Broader integration of algae and micro‑algae as high‑yield feedstocks.
• Strategic alliances between refineries and airlines to secure long‑term blended fuel contracts.
• Growth of regulatory mandates for renewable diesel blending in both passenger and freight fleets.