Performance of the Polish Biofuel Industry after Accession to the European Union in the Area of Sustainable Development Concepts

Abstract

Poland is an important producer of rapeseed used in the biofuel industry. The rate of production of the biofuel industry increased after Poland’s accession to the European Union (EU). The reasons for these changes are numerous, of which the European Union’s energy policy is the most important. This paper aims to analyze the performance of the biofuel industry in Poland in view of changes in the market. Moreover, I evaluated changes in the biofuel industry after Poland’s accession to the EU. In addition, I analyzed the fixed and current assets of the Polish biofuel. The hypothesis that the price of rapeseed oil is the key determinant of profitability in the biodiesel industry was formulated. A statistical analysis proved the second hypothesis stating that the net profit of biodiesel companies depends on biodiesel production to the greatest extent. The time range of the analysis was 2005–2021. To analyze the economic performance of the biofuel industry in Poland, these changes were used. A regression analysis to find factors influencing the economic performance of the biofuel industry was used. More and more oils are used for the production of first-generation biofuels. Refined rapeseed oil also increased from 386.5 thousand tons to 780.6 thousand tons. Such numbers demonstrate the development of biofuel markets.