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睿咨得能源:2025生物能源展望白皮书:新政策要求推动生物燃料需求大幅增长(中译版)(16页).pdf

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1、Table of contents2Executive summaryIntroductionGlobal demandGlobal supplyFeedstockFuel deep dive:SAFRegional deep dive:Europe3458101113Bioenergy Outlook 20253Significant policy changes for biofuels were witnessed in 2025,driven by both new rules and the implementation of several key initiatives to b

2、oost demand.The year saw sustainable aviation fuel(SAF)move from a future story to a key part of liquids biofuels.With ReFuelEU Aviation coming into force and the first year of binding SAF blend requirements in Europe,prices sharply increased in the second half of 2025 before subsiding again.Road tr

3、ansport,however,retains its dominant role.In the European Union,the Renewable Energy Directive III(RED III)raises the goal for advanced biofuels and tightens greenhouse gas(GHG)intensity targets for transport,which raises demand.At the same time,Indonesia expands biodiesel blending,Brazil expands it

4、s bioethanol and biodiesel use under its national frameworks,and India accelerates both ethanol blending in gasoline and biodiesel uptake.Together,these policies make road transport the largest and still rapidly growing outlet for biofuels in absolute terms through at least the mid 2030s,even as ele

5、ctric vehicles start to slow fossil fuel growth.The maritime industry,under the highly anticipated international maritime organization Net Zero Framework(NZF),was expected to become a significant third demand center,but the policy vote has been delayed by at least a year.Our new outlook now expects

6、this policy to be delayed even further,out until 2031.Our new demand outlook shows road biofuel use,mainly ethanol and biodiesel blends,rising through this decade,then peaking around the mid 2030s as electric vehicles and higher efficiency reduce fossil fuel consumption in cars and trucks.Beyond tha

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1. **政策驱动需求增长**:2025年欧盟ReFuelEU Aviation强制SAF掺混(2025年2%),RED III提高2030年交通可再生能源目标至29%,推动SAF需求激增。 2. **需求结构转变**:道路燃料(乙醇、生物柴油)需求2030年代中期达峰后下降,SAF成为增量主力,2040年全球SAF需求或达160万桶/日。 3. **原料瓶颈凸显**:废油脂(UCO、牛油)供应有限(当前约1700万吨),需求超7000万吨,价格2024-2025年上涨28%($900→$1150/吨),中国出口限制加剧紧张。 4. **项目调整与转型**:大型SAF/HVO项目(如壳牌、BP暂停)因原料成本和政策不确定性搁置,石油巨头转向炼厂共处理降本。 5. **航运政策延迟**:IMO净零框架推迟至2031年,航运生物燃料需求增长不确定性增加。
**SAF需求激增?** **生物燃料未来?** **政策如何影响?**
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