The consumption of blended biodiesels in the industry in Austria has shown fluctuations over the past decade, where 2023 figures stood at 13.05 thousand tonnes of oil equivalent. Between 2013 and 2020, the market experienced significant volatility with notable drops, such as in 2014 (-13.83%) and 2020 (-10.98%), and occasional upticks in 2015 (11.96%) and 2021 (16.49%). The past five years ended with an average annual growth rate (CAGR) of 0.99%. For the forecasted period, 2024 to 2028, expected an average yearly rise of 1.87%, predicting a gradual increase in consumption with a cumulative 9.73% growth rate by 2028.
Future trends to watch for:
- Technological advancements in biodiesel production.
- Changes in environmental regulations favoring cleaner fuel options.
- Economic factors impacting industrial fuel consumption patterns.
- Potential policy incentives to boost green energy usage.