In 2023, the consumption of renewables and biofuels in the German iron and steel sectors stood at 1.31 thousand tonnes of oil equivalent. The forecasted data for 2024 to 2028 shows a modest, yet steady increase from 1.32 to 1.34 thousand tonnes of oil equivalent, indicating very gradual growth. Year-on-year changes reflect stability, with an increment of approximately 0.75% annually. The five-year compound annual growth rate (CAGR) is projected to be around 0.45%, reflecting a slow but consistent upward trend in renewables and biofuels consumption.
Future trends to watch for include technological advancements that may enhance the effectiveness of renewable fuels, policy changes aimed at reducing carbon footprints, and shifts in market demand for sustainable production methods. Any significant developments in these areas could accelerate the current gradual increase in consumption.
