The primary solid biofuels production in Spain has shown fluctuating trends over the past decade. In 2023, the production stood at 5.31 million tonnes of oil equivalent. There was a slight year-on-year increase of 0.76% from 2022. Over the last two years, the average annual growth rate (CAGR) was about 1.43%. Looking further back, from 2018 to 2023, the average yearly growth rate was approximately 0.82%, indicating modest but steady progress.
Forecasts predict the production continuing to grow, reaching around 5.48 million tonnes by 2028. The expected CAGR over the next five years is 0.51%, translating to an overall forecasted growth rate of 2.58%.
Future trends to watch include advancements in biofuel technologies and potential regulatory changes prioritizing renewable energy sources. Investments in sustainable energy and developing new markets may further impact production levels and growth rates in the coming years.
