As of 2023, the availability of blended biodiesels for final consumption in the UK was at a certain level, marking a baseline for future forecasts. With an anticipated increase to 60.49 thousand terajoules in 2024, the projected year-on-year growth is expected to average around 3.5% annually through to 2028. The cumulative annual growth rate (CAGR) over the next five years is approximately 3.5%. This consistent upward trend suggests a steady interest and investment in biodiesel as part of the UK's renewable energy strategy.
Future trends to watch for include:
- Government policy changes surrounding renewable energy incentives and regulations.
- Technological advancements in biodiesel production and efficiency.
- Fluctuations in fossil fuel prices impacting biodiesel's competitiveness.
- Consumer demand and adoption rates for biodiesel-blended fuels amidst evolving environmental awareness.