Indonesia's biofuel consumption in 2023 stood at 405.2 Petajoules. Forecasts project a steady increase, with consumption expected to reach 448.14 Petajoules in 2024, growing to 631.4 Petajoules by 2028. The year-on-year percentage growth from 2024 to 2025 is estimated at 10.3%, from 2025 to 2026 at 9.3%, from 2026 to 2027 at 8.5%, and from 2027 to 2028 at 7.7%. The CAGR (Compound Annual Growth Rate) over the forecast period from 2024 to 2028 is approximately 9.1%.
Future trends to watch for include advancements in biofuel technology, government policies supporting renewable energy, and potential fluctuations in global oil prices, which could impact biofuel investment and consumption patterns.
