The paraffin waxes transformation output in the UK is forecasted to increase steadily from 2024 to 2028, starting at 3.0 thousand terajoules in 2024 and reaching 3.29 thousand terajoules by 2028. This represents a consistent annual growth, with a year-on-year increase averaging around 2.3%. The compound annual growth rate (CAGR) over the five years is approximately 2.3%. In 2023, the paraffin waxes output stood at 2.93 thousand terajoules.
Future trends to watch for include advancements in eco-friendly and sustainable wax alternatives, which could potentially impact paraffin wax demand. Additionally, fluctuations in oil prices and regulatory changes regarding fossil fuel derivatives may also influence output levels.
