Analyzing the final consumption of pure biodiesels in Belgium, we observe a steady increase in forecasted data from 2024 to 2028. In 2023, the actual consumption stood at 3.55 thousand metric tons.
Year-on-year variations are as follows:
- 2024: +3.66%
- 2025: +3.80%
- 2026: +3.41%
- 2027: +3.29%
- 2028: +3.18%
Over the last two years leading to 2023, the consumption showed an upward trend, reflecting the growing demand and increased adoption of biodiesel. The CAGR over the forthcoming five years (2024-2028) is projected to be around 3.47%, indicating a sustained growth trajectory.
Future trends to monitor include advancements in biodiesel technology, policy changes in renewable energy mandates, and market responses to fluctuations in fossil fuel prices. Additionally, increased focus on environmental sustainability and decarbonization efforts could further accelerate the adoption of biodiesels in the coming years.