In New York, Imarc Group reported that the Saudi Arabia biofuel market size reached $95.77 million in 2024 and is projected to reach $2.49 billion by 2033.
According to the report, the market is forecast to expand at a CAGR of 10.8% during 2025-2033.
“Saudi Arabia’s Vision 2030 is a significant catalyst for the biofuel market, as it strives to lessen its dependency on fossil fuels and promote sustainable energy. The initiative stimulates investments in renewable energy including biofuels; variety is the essence of the energy mix,” the report said.
“The Saudi Green Initiative for instance, funds biodiesel production from agricultural waste. The government’s research with innovative feedstocks such as algae complies with the sustainability regulations that the country must abide by,” it added.
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