Greece: Solid Biofuel Market 2023

Solid Biofuel Market Size in Greece

In 2022, the Greek solid biofuel market increased by 46% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Solid Biofuel Production in Greece

In value terms, solid biofuel production reached $X in 2022 estimated in export price. Over the period under review, production saw a strong expansion. The growth pace was the most rapid in 2018 when the production volume increased by 52%. Solid biofuel production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Solid Biofuel Exports

Exports from Greece

Solid biofuel exports from Greece shrank remarkably to X tons in 2022, reducing by -45.8% compared with 2021. In general, exports, however, saw a resilient expansion. The pace of growth appeared the most rapid in 2017 with an increase of 2,498%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, solid biofuel exports totaled $X in 2022. Over the period under review, exports, however, posted a strong increase. The pace of growth was the most pronounced in 2017 when exports increased by 676% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for solid biofuel exports from Greece, accounting for a 26% share of total exports. Moreover, solid biofuel exports to North Macedonia exceeded the volume sent to the second major destination, Bulgaria (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to North Macedonia amounted to -32.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+38.0% per year) and Germany (+27.5% per year).

In value terms, Germany ($X), North Macedonia ($X) and Bulgaria ($X) appeared to be the largest markets for solid biofuel exported from Greece worldwide, with a combined 30% share of total exports.

Bulgaria, with a CAGR of +36.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average solid biofuel export price amounted to $X per ton, surging by 86% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Solid Biofuel Imports

Imports into Greece

After three years of decline, purchases abroad of solid biofuels increased by 53% to X tons in 2022. In general, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, solid biofuel imports surged to $X in 2022. The total import value increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest solid biofuel supplier to Greece, accounting for a 17% share of total imports. Moreover, solid biofuel imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Cuba (X tons), twofold. Namibia (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria totaled +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Cuba (+2.5% per year) and Namibia (+18.6% per year).

In value terms, the largest solid biofuel suppliers to Greece were Cuba ($X), Bulgaria ($X) and Namibia ($X), with a combined 26% share of total imports. Egypt, Indonesia, Malaysia, Albania, Turkey, Nigeria and Serbia lagged somewhat behind, together accounting for a further 15%.

Among the main suppliers, Turkey, with a CAGR of +73.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average solid biofuel import price stood at $X per ton in 2022, surging by 2.6% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 16% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Albania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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