Key Market Indicators
Mexico's biofuel demand is projected to surge to approximately 5,100 barrels of oil equivalent per day by 2028, up from 4,500 barrels in 2023. This rise represents an annual growth rate of 2%. Since 2005, the country's biofuel demand has seen an average yearly increase of 2.7%. In tandem with the growing demand, Mexico's biofuel production is expected to hit about 1,040 barrels of oil equivalent per day by 2028, rising from 730 barrels in 2023. This marks a compound annual growth rate (CAGR) of 5.6%. Notably, since 2021, the nation's biofuel supply has experienced a significant uptick, climbing by 9% each year.
