Analyzing the consumption of biofuels in Brazil, we observe substantial year-to-year variations over the past decade. From 2013 to 2023, the biofuel consumption increased from 1.24 to 1.77 thousand petajoules, reflecting an overall positive growth trend. The data suggest a significant increase in the early years, with noticeable slowdowns and occasional declines, particularly in 2016 (-9%), 2020 (-6.9%), and slight dips in the subsequent few years until a minor recovery by 2023. In 2023, the value stood at 1.77 thousand petajoules, exhibiting a minor increase of 1.4% from the previous year.
The compound annual growth rate (CAGR) over the last five years was modest at -0.53%, reflecting slower but steady growth. The projected forecasts from 2024 to 2028 predict a more stable consumption increase, with a forecasted five-year CAGR of 0.97%, leading to a total growth rate of 4.94% by 2028.
Future trends to watch for include government policies on renewable energy, technological advancements in biofuel production, and the impact of global market fluctuations on energy prices. Monitoring these factors will be crucial in anticipating future variations in biofuel consumption in Brazil.