In 2023, the final consumption of primary solid biofuels in Spain's construction sector stood at 222 Terajoules. The year-on-year variation for 2023 was 1.37%. From 2022 to 2023, there was a moderate growth trajectory, following a similarly steady trend the year before with a variation of 1.39%. Over the last two years, the sector has demonstrated resilience with slight yet positive growth. The 5-year CAGR leading up to 2023 averaged at 0.55%, suggesting a slow but steady uptick in consumption after a period of stabilization from 2016 to 2020.
Looking ahead to the future, forecasting data indicates a continued incremental rise in consumption, with a projected rise to 234 Terajoules by 2028. The forecasted 5-year growth rate is 4.46% with an average annual growth rate (CAGR) of 0.88%, signaling a steady but gradual improvement in the sector's adoption of primary solid biofuels.
Future trends to watch for include advancements in biofuel technology, potential policy changes promoting renewable energy, and the construction sector's evolving energy needs. Observing market shifts and technological innovations will be crucial in anticipating the sector's demand for biofuels.
