Forecast: Biofuels Production in Indonesia

In 2023, Indonesia's biofuels production stood at 191.59 thousand barrels of oil equivalent per day. Over the past two years, the year-on-year variations were 15.59% in 2022 and 9.84% in 2023. The last five-year CAGR was 16.08%. Observing longer-term trends, Indonesia's biofuels production has witnessed notable fluctuations such as significant growths of 80.56% in 2018 and 124.97% in 2016, interspersed with periods of decline like in 2015 with a -59.21% variation. Despite occasional downturns, the overall trend showcases a steady increase with consistent positive growth in more recent years.

Future trends to watch for include:

• Sustained growth with a projected five-year CAGR of 6.36% and an anticipated growth rate of 36.12% by 2028.
• Potential impacts of emerging environmental policies and technological advancements on biofuels efficiency and production capacity.
• Global market dynamics such as shifts in crude oil prices and international biofuel demand.