In 2023, Norway led in European renewables and biofuels final consumption in the chemical and petrochemical sectors, showing significant growth at 29.67%. France, the United Kingdom, and several Eastern European countries like Spain, Bulgaria, and Serbia displayed notable advances, whereas Austria, Italy, and several smaller markets like Finland and Greece experienced declines. Over the past five years, the compound annual growth rate (CAGR) suggests moderate to strong increases in many countries, with variations depending on local policy and market conditions.
Future trends to watch include:
- Expansion of renewable and biofuel production capacity, particularly in leading nations like Norway and emerging markets such as Serbia and Ukraine.
- Policy changes affecting renewable energy incentives and regulations could significantly alter consumption trends.
- Technological advancements in biofuel production that may enhance efficiencies and reduce costs, encouraging broader adoption across Europe.
Top countries in Renewables and Biofuels Final Consumption in Chemical and Petrochemical Sectors Share by Country (Thousand Tonnes Of Oil Equivalent)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Norway | 26.28 | 2023 | +9.65% | +29.67% | View data |
| 2 | 2 France | 17.4 | 2023 | +2.87% | +10.22% | View data |
| 3 | 3 Germany | 12.45 | 2023 | +2.55% | +3.91% | View data |
| 4 | 4 United Kingdom | 9.99 | 2023 | +6.35% | +12.28% | View data |
| 5 | 5 Austria | 7.49 | 2023 | +5.04% | -0.59% | View data |
| 6 | 6 Sweden | 5.9 | 2023 | -0.035% | +24.5% | View data |
| 7 | 7 Slovenia | 2.99 | 2023 | +2.86% | +2.81% | View data |
| 8 | 8 Serbia | 2.97 | 2023 | +22.99% | +29.48% | View data |
| 9 | 9 Denmark | 2.64 | 2023 | +13.37% | +19.89% | View data |
| 10 | 10 Lithuania | 2.23 | 2023 | +2.75% | +2.42% | View data |
