Indonesia Biofuels Market Size & Outlook, 2023-2030
Indonesia biofuels market, 2018-2030 (US$M)
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Indonesia biofuels market highlights
- The Indonesia biofuels market generated a revenue of USD 4,240.8 million in 2023 and is expected to reach USD 9,333.7 million by 2030.
- The Indonesia market is expected to grow at a CAGR of 11.9% from 2024 to 2030.
- In terms of segment, liquid biofuel was the largest revenue generating form in 2023.
- Liquid Biofuel is the most lucrative form segment registering the fastest growth during the forecast period.
Biofuels market data book summary
| Market revenue in 2023 | USD 4,240.8 million |
| Market revenue in 2030 | USD 9,333.7 million |
| Growth rate | 11.9% (CAGR from 2023 to 2030) |
| Largest segment | Liquid biofuel |
| Fastest growing segment | Liquid Biofuel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solid Biofuel, Liquid Biofuel, Gaseous Biofuel |
| Key market players worldwide | Air Liquide SA, Archer-Daniels Midland Co, Bunge Global SA, Green Plains Inc, Petroleo Brasileiro SA Petrobras ADR, Chevron Corp, International Flavors & Fragrances Inc, Shell PLC, Wilmar International Ltd |
Other key industry trends
- In terms of revenue, Indonesia accounted for 4.3% of the global biofuels market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China biofuels market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,401.8 million by 2030.
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Biofuels Market Scope
Biofuels Market Companies
| Name | Profile | # Employees | HQ | Website |
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Indonesia biofuels market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to biofuels market will help companies and investors design strategic landscapes.
Liquid biofuel was the largest segment with a revenue share of 49.55% in 2023. Horizon Databook has segmented the Indonesia biofuels market based on solid biofuel, liquid biofuel, gaseous biofuel covering the revenue growth of each sub-segment from 2018 to 2030.
Indonesia remains one of the major global exporters of biodiesel, followed by Argentina as of 2021. In 2017, anti-dumping duties were imposed by the U.S. on biodiesel imported from Argentina and Indonesia.
However, the European Union (EU) revoked anti-dumping duties on biodiesel imported from Indonesia. The biodiesel tax credit was also reestablished retroactively at the start of 2018. After the loss in the global market share, the Government of Indonesia enhanced domestic biodiesel consumption by increasing the biofuel mandated level.
Environmental factors may limit palm oil-based biodiesel exports from the country. According to the Ministry of Energy and Mineral Resources (MEMR) of Indonesia, blending mandates for biodiesel and bioethanol include 20% and 5%, respectively.
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Horizon Databook provides a detailed overview of country-level data and insights on the Indonesia biofuels market , including forecasts for subscribers. This country databook contains high-level insights into Indonesia biofuels market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Indonesia biofuels market size, by form, 2018-2030 (US$M)
Indonesia Biofuels Market Outlook Share, 2023 & 2030 (US$M)
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