Biofuels see significant growth in road transport worldwide

IFPEN’s 2024 biofuels dashboard highlights strong growth in the road transport sector. In 2023, global energy consumption in this sector surpassed pre-Covid levels, with a larger share of alternative energies, including biofuels. Biofuels now account for 53% of alternative energies, making up 4.8% of global fuel consumption. Global investments in biofuels surged past $13 billion in 2023. IFPEN predicts that biofuels will play a key role in decarbonizing transport in the medium to long term.