Between 2013 and 2023, the primary solid biofuels available for final consumption in Belgium experienced fluctuations, peaking at 55.26 thousand terajoules in 2021 and dipping to 47.71 in 2014. As of 2023, consumption stood at 52.05 thousand terajoules. Key variations include a notable increase of 15.2% in 2021, followed by a 6.04% decrease in 2022, and a marginal rise of 0.24% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years shows a slight negative trend of -0.47%.
Looking forward, forecasts indicate a steady but slow growth in primary solid biofuels consumption, with values expected to reach 52.66 thousand terajoules by 2028. This suggests a CAGR of 0.19% over the next five years, equating to a 0.93% total growth by 2028.
Future trends to watch for:
- Technological advancements in biofuel production that could enhance efficiency and output.
- Government policies and regulations promoting renewable energy use, potentially accelerating biofuel consumption.
- The impact of economic factors such as energy prices and availability of alternative energy sources on biofuel demand.