The primary solid biofuels production in the UK has shown significant fluctuations over the past decade. From 2013 to 2023, production values rose from 121.13 Thousand Terajoules to 233.75 Thousand Terajoules, translating to a varying year-on-year growth rate. Notably, there was a substantial increase in 2021 (31.86%) after a steep drop in 2020 (-12.5%). The average annual growth rate (CAGR) over the past five years (2018-2023) stands at 3.31%, indicating moderate growth.
Looking forward, forecasts predict a steady CAGR of 2.7% from 2024 to 2028, resulting in an overall growth rate of 14.24% over this period. By 2028, production is expected to reach 278.52 Thousand Terajoules.
Future trends to watch for:
- Continued policy support and incentives for renewable energy.
- Advancements in biofuel technology enhancing production efficiency.
- Potential market fluctuations due to geopolitical and economic factors.
