The forecast for the UK's chemical and petrochemical sector indicates non-renewable waste consumption will increase steadily from 2024 to 2028, moving from 1.72 thousand terajoules in 2024 to 2.06 thousand terajoules by 2028. For context, in 2023, actual consumption stood slightly above 1.6 thousand terajoules, indicating a consistent annual growth in usage.
Year-on-year variations show a steady increase of approximately 5% each year. The projected compound annual growth rate (CAGR) over this period underlines a gradual rise, averaging around 4.6% annually.
Future trends to watch include regulatory changes targeting carbon emissions and waste reduction, advancements in recycling technology, and potential shifts towards renewable resource utilization that could influence sector dynamics and consumption patterns. Monitoring these factors will be crucial to understanding potential deviations from current projections.
