Outlook 2024: Prime factors around global biofuel growth
Biofuels are addressing the energy trilemma through sustainability and security, but affordability remains a challenge
Global biofuel consumption is expected to rise by 20% from 2022-27, according to the IEA earlier in 2023. Several reasons are expected to be responsible for this increase, including regional demand, climate change and energy security concerns. The US, Canada, Brazil, Indonesia and India are expected to comprise 80% of the global expansion of biofuel demand. While the US is the clear leader in biofuel facility development, with upcoming projects such as California’s 800m gal/y Rodeo Renewed project, the country appears to not be building any new oil refineries domestically for the foreseeable future. Renewable diesel and sustainable aviation fuel (SAF) are expected to see their growth in adva
Also in this section
18 June 2025
The country’s green hydrogen sector can gain traction even as the global trade war rages and other headwinds hamper the sector, Mohsen al-Hadhrami, undersecretary of energy and minerals, tells Hydrogen Economist
18 June 2025
UK risks losing out on in race to secure hydrogen imports as its refusal to back ammonia cracking sinks $2.7b Immingham project
11 June 2025
China emerges as clear frontrunner as US growth stalls and Europe burdens its industry with labyrinthine regulations
30 May 2025
Pressure is growing on developers to prove the bankability of their projects in a challenging market for green hydrogen
