Throughout the historical period from 2013 to 2023, energy consumption in biodiesel production in Argentina has shown significant annual fluctuations. Notably, the consumption peaked at 2.54 Million Tonnes of Oil Equivalent (MTOE) in 2017, followed by a general trend of fluctuations with a steady increase reported in recent years, reaching 2.32 MTOE in 2023. Year-on-year variations over the last two years were relatively small, with a 2.43% increase from 2021 to 2022, and a 2.33% increase from 2022 to 2023. The Compound Annual Growth Rate (CAGR) over the last five years has been moderate at 1.51%.
Looking ahead, the forecast for the period from 2024 to 2028 suggests a gradual and consistent increase in energy consumption in biodiesel production. The forecasted CAGR is 1.62%, leading to an anticipated value of 2.57 MTOE by 2028, reflecting an overall growth of 8.36% over this five-year period.
Future trends to watch for:
- Regulatory changes impacting biodiesel production and energy consumption.
- Technological advancements improving energy efficiency in biodiesel production.
- Market demand shifts due to environmental policies and global energy market dynamics.
- Adoption of renewable energy sources within the biodiesel production process.
- Potential impacts of geopolitical events on energy supply and pricing.
