The primary solid biofuels available for final consumption in Turkey have shown a consistent decline from 2013 to 2023, with a marked reduction in Value. As of 2023, the value stood at 1.13 Million Tonnes Of Oil Equivalent. The largest year-on-year decrease was seen in 2018 at -34.17%, with a moderate recovery in 2020 at a growth of 5.39%. The average annual decline (CAGR) over the past five years was -6.21%, highlighting a steady downtrend.
Forecast data from 2024 to 2028 suggest an accelerated decline, with a forecasted CAGR of -26.24%, leading to a significant expected drop of 78.17% over this period.
Future trends to watch for:
- Potential policy changes in renewable energy.
- Technological advancements in biofuel production.
- Shifts in the global energy market impacting local consumption patterns.
- Efforts towards sustainability and carbon emission reduction targets.
