The share of biomass in China's total domestic material consumption stood at 11.33% in 2023. Forecasts indicate a consistent decline from 2024 through 2028, with values dropping from 11.08% in 2024 to 10.09% in 2028. Year-on-year variations highlight a decreasing trend of approximately 2.35% from 2024 to 2025, and about 2.31% from 2025 to 2026. Over the last two years, the average annual reduction in biomass share is roughly 2.33%. The compounded annual growth rate (CAGR) over the five-year period is projected to be -2.24%.
Future Trends to Watch for:
- Impact of technological innovations and increased efficiency in biomass utilization.
- Government policies promoting renewable energy sources and their influence on biomass consumption.
- Market dynamics such as changes in raw material prices and shifts toward sustainable practices.
- Competing renewable energy sources potentially reducing the reliance on biomass.