Report: Global Biofuel Demand to Increase Over 20% by 2027
The International Energy Agency released its Renewables 2022 Analysis Report in December, and it shows a growing global demand for biofuels. Renewables 2022 includes extensive analysis of the renewable energy sector, including developments and trends for transportation.
“In this most recent IEA report, total global biofuel demand is estimated to increase more than 20 percent between 2020 and 2027,” said Isabelle Ausdal, manager of global ethanol policy and economics with the U.S. Grains Council. “World ethanol consumption is projected to rise in an accelerated case scenario.”
She added this reinforces the U.S. industry’s recognition of ethanol’s importance as a tool for countries to accelerate their greenhouse gas emissions reductions and underscores the importance of scaling up technologies like carbon capture, utilization, and storage to reach net zero carbon intensity. The report details increasingly ambitious energy targets in the European Union, growth in ethanol consumption in Brazil, and biofuel blending in India.
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