The share of biomass in Vietnam's total domestic material consumption showed fluctuations from 2013 to 2023, standing at 28.36 in 2023. Over the last two years, it decreased slightly, with a year-on-year variation of -0.14% from 2022 to 2023. Between 2019 and 2023, the compound annual growth rate (CAGR) was -0.42%, indicating a gradual decline.
Looking ahead, the forecasted data suggests a continuous downward trend, expecting the share to decline further by approximately 2.06% over the next five years, reaching 27.62 by 2028.
Future trends to watch for include:
- Innovations in biomass utilization and its impact on consumption rates.
- Policy changes affecting renewable energy sources and biomass regulations.
- Technological advancements in alternative materials replacing biomass.