The share of biomass in total domestic material consumption in Singapore has shown variability from 2013 to 2023, standing at 3.04 units in 2023. The year-on-year variation over the last two years indicates minor upward trends, with a 3.17% increase from 2022 to 2023. Over the past five years (2019 to 2023), the average CAGR has been 2.15%, suggesting a moderate growth trajectory.
Future trends indicate a 1.16% forecasted CAGR over the next five years, with an overall growth rate of 5.91% by 2028. Key aspects to monitor include technological advancements, policy changes, and investments in sustainable practices that could influence biomass consumption patterns in the coming years.
Trends to watch for in the future include:
- Government incentives and regulations promoting renewable energy sources.
- Technological innovations in biomass conversion and utilization.
- Shifts in global energy markets affecting biomass demand.
- Investment in sustainable infrastructure enhancing biomass integration.