Key Market Indicators
Chinese biofuel production is projected to reach approximately 77,000 barrels of oil equivalent per day by 2028, up from around 68,000 barrels per day in 2023. This represents a compound annual growth rate (CAGR) of roughly 2%. Since 2006, the nation's biofuel supply has seen a robust average annual growth of 9.4%. In contrast, Chinese biofuel demand is expected to hit around 53,000 barrels of oil equivalent per day by 2028, rising from about 46,000 barrels per day in 2023. This marks a CAGR of approximately 2.1%. Despite this recent growth, since 2007, biofuel demand in China has decreased by an average of 3.3% per year.
