Biofuel Usage Expands Despite Rising Costs
(Biofuels International) Global biofuel demand is expected to be 6% or 900 million litres per year (MLPY) higher in 2022 than the previous year.
Renewable diesel makes up the largest share of this year-on-year expansion, thanks to attractive policies in the United States and Europe.
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Growth in renewable diesel and biojet fuel consumption is almost entirely in advanced economies.
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Meanwhile, rising ethanol and biodiesel use occurs almost entirely in emerging economies aiming to reduce oil imports while also maximising the use of indigenous resources to benefit the local economy.
Plus, biofuel use helps reduce GHG emissions in these countries.
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The United States, Canada, Brazil, Indonesia and India make up 80% of global expansion in biofuel use, as all five countries have comprehensive policy packages that support growth.
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Globally, the biofuel share in transport fuel consumption climbs from 4.3% to 5.4% during 2022-2027. READ MORE
EPA: 2022 RFS RIN generation reaches 21.27 billion (Ethanol Producer Magazine)
