Key Market Indicators
American biofuel demand is projected to reach approximately 1.63 million barrels of oil equivalent per day by 2028, up from about 1.44 million barrels per day in 2023. This represents an average annual growth rate of 1.9%. The trend reflects a consistent increase in biofuel demand since 1995, maintaining an annual growth rate of 1.9%. On the supply side, American biofuel production is expected to rise to around 1.72 million barrels of oil equivalent per day by 2028, compared to roughly 1.50 million barrels per day in 2023. This marks a compound annual growth rate (CAGR) of 2.2%. Since 1995, the supply of biofuels in the U.S. has grown at an average annual rate of 1.4%. The data indicates a robust upward trajectory in both demand and production of biofuels in the United States, driven by ongoing efforts to boost renewable energy sources.
