The consumption of primary solid biofuels in Italy's industry has shown a consistent upward trend from 2013 to 2023, with a notable increase in 2015. In 2023, the consumption stood at 435.1 Thousand Tonnes Of Oil Equivalent, growing modestly by 1.89% from the previous year. Over the last two years, there has been a recovery phase with a significant year-on-year growth of 14.74% in 2021, followed by a decrease of 6.91% in 2022 and a mild increase in 2023. The compound annual growth rate (CAGR) over the last five years stands at 3.4%.
Looking forward, the forecast predicts a steady increase from 2024 to 2028, with a forecasted CAGR of 1.36% and an overall growth rate of 7.01% over the five-year period. Key factors to watch for include technological advancements in biofuel efficiency, potential regulatory changes, and fluctuations in industrial demand that could impact future consumption trends. Environmental policies and economic incentives aimed at promoting renewable energy usage may further influence the market dynamics.