The consumption of blended biodiesels in Sweden's chemical and petrochemical sectors has shown a remarkable upward trend. Starting from 0.24 gigawatthours in 2013, the rate accelerated to 6.75 gigawatthours by 2023. Analyzing year-on-year variations, significant spikes were observed, such as a 330.59% increase in 2016. Over the last two years, the increase in consumption was 13.55% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years stands at 14.96%. Growth is forecasted to continue, with the 2028 five-year CAGR projected to be 7.25%, resulting in a 41.92% growth over this period.
Future trends to watch for include:
- Advancements in biodiesel technology leading to higher efficiencies.
- Potential regulatory changes impacting the adoption rates in the chemical and petrochemical sectors.
- Increasing awareness and demand for sustainable energy solutions driving further growth in biodiesel consumption.