The UK's energy consumption in biodiesel production has shown significant fluctuations over the years. From 2013 to 2023, the value increased from 209.04 to 522.39 Thousand Tonnes Of Oil Equivalent. This reflects a year-on-year variation peaking at 130.36% in 2016, indicating volatile growth. The last two years demonstrated stability with growth rates of 5.65% in 2022 and 5.32% in 2023. The five-year CAGR ending in 2023 stood at 6.45%, reflecting steady increasing trend. Forecasts suggest continued growth, with an estimated CAGR of 3.52% from 2024 to 2028.
- 2013: 209.04 thousand TOE
- 2014: -46.53% YoY variation
- 2015: 116.38 thousand TOE
- 2023: 522.39 thousand TOE
- 2028: Forecasted 652.34 thousand TOE
- Forecasted 5-year CAGR: 3.52%
Future trends to watch for include potential policy changes influencing biodiesel production, advancements in production technology, and fluctuations in oil prices affecting biodiesel's competitiveness as an alternative energy source.
