Indonesia's energy consumption in biodiesel production has shown significant fluctuations over the years. Actual data exhibits a notable drop in 2015 followed by a remarkable increase in 2016. The trend continues with substantial growth in 2018, reflecting an over 100% increase. The upward trajectory stabilizes from 2019 to 2023, showing steady year-on-year increases, reaching 7.14 million tonnes of oil equivalent in 2023. Year-on-year growth rates in the most recent years demonstrate single-digit growth percentages, highlighting a mature market phase. The 5-year CAGR from 2019 to 2023 stands at 9.86%, indicating robust yet slowing growth.
Forecasted data project a continuing upward trend, albeit at a reduced growth rate. From 2024 to 2028, the industry is expected to grow at an average annual rate of 4.8%, reaching 9.68 million tonnes by 2028. Factors influencing this trend include technological advancements, government policies, and fluctuations in global oil prices. Watching for shifts in these variables and any potential regulatory changes will be crucial for stakeholders in this sector.
