Key Market Indicators
Thailand's biofuel production is projected to decline over the next five years, according to recent forecasts. By 2028, the country's biofuel output is expected to reach approximately 28,000 barrels of oil equivalent per day. This marks a decrease from around 34,000 barrels per day in 2023, representing a 2.8% annual decline. Historical data indicates that Thailand's biofuel supply has been shrinking since 2009, with a year-on-year reduction of 3.1%. In tandem with production, the demand for biofuel in Thailand is also set to decrease. Projections show that by 2028, biofuel demand will fall to roughly 23,000 barrels of oil equivalent per day, down from about 31,000 barrels per day in 2023. This reflects a steeper annual decline of 4.4%. Since 2009, the demand for biofuel in Thailand has consistently dropped at an average rate of 3.9% per year.
