BAKU, Azerbaijan, March 27. The US is set to lead in producing ethanol, diesel, and advanced biofuels by 2035, Trend reports.
According to the research made by Rystad Energy, an independent energy research and business intelligence company from Norway, it is expected that the US will make around 1.3 million barrels of oil equivalent per day (boepd) of biofuels by 2035 - up by 53 percent from 850,000 boepd produced in 2023. This will also be equivalent to 40 percent of the global output.
Of this amount, advanced fuels will make up roughly 50 percent of what's produced domestically. Furthermore, Europe and Brazil will be the next largest producers, but they'll be quite a bit behind the US. Europe is expected to produce about 580,000 boepd by 2035, while Brazil's output will reach 510,000 boepd.
Meanwhile, according to Rystad Energy, renewable diesel production has surged recently, going from 25,000 b/d in 2020 to an estimated 220,000 b/d this year. US consumption even exceeded 200,000 b/d during certain months in 2023, and this upward trend seems likely to continue for a while, the company noted.
Thus, Rystad Energy anticipates renewable diesel production to keep growing substantially until 2030 in all scenarios, but after that, the paths may differ.
