The forecast for lubricants available for final consumption in the UK indicates a consistent decline from 2024 to 2028. Starting at 12.83 thousand terajoules in 2024, it decreases steadily to 10.75 thousand terajoules by 2028. This trend shows a continued reduction in consumption, with each year experiencing a noticeable decrement.
For the two-year variations, there is a decrease from 2024 to 2025 of approximately 4.2% and a 4.2% decrease from 2025 to 2026. From 2026 to 2027, there is a reduction of around 4.3%, and from 2027 to 2028, the decrease rate is around 4.5%. The compound annual growth rate (CAGR) over this five-year period is negative, indicating a steady downward trend.
Future trends to watch for include the impact of increasing sustainability initiatives and technological advancements in engines on lubricant demand. This trend may continue as efficiency and environmental considerations shape consumption patterns, signaling a potential shift towards more eco-friendly alternatives. Additionally, market dynamics, including regulatory changes and shifts in industrial output, may further influence lubricant demand in the UK.
