In 2023, the final consumption of biogases in the chemical and petrochemical sectors in Belgium stood at 74.79 Gigawatthours. Between 2013 and 2023, the data shows an overall fluctuating trend with significant dips observed from 2014 to 2019. From 2020 onwards, there was a recovery and upward trend, leading to a value of 74.79 in 2023. The last two years, 2022 and 2023, witnessed year-on-year increases of 4.93% and 2.64%, respectively. Over the five-year period from 2019 to 2023, the Compound Annual Growth Rate (CAGR) was 6.13%.
Key trends over the years:
- 2013-2019: Initial decline followed by stagnation.
- 2020 onwards: Gradual increase in consumption.
Future Trends to Watch For:
The forecast suggests a continued increase in biogases consumption with a CAGR of 1.81% from 2024 to 2028, leading to a growth rate of 9.37% by 2028. Monitoring regulatory policies, technological advancements, and market demand will be crucial for understanding future consumption patterns.