The import of wood fuel to the UK is forecasted to grow consistently from 2024 to 2028. In 2023, the actual imported volume was lower than 146.25 million kilograms, indicating a positive trend. Year-on-year growth from 2024 to 2028 is projected, with notable increases annually: 4.13% in 2024-2025, 3.87% in 2025-2026, 3.65% in 2026-2027, and 3.46% in 2027-2028. The compound annual growth rate (CAGR) from 2023 to 2028 is anticipated to reflect steady growth, underscoring the rising demand for renewable energy sources.
Future trends to watch for in this market include:
- Evolving energy policies in the UK, focusing on renewable energy usage.
- Technological advancements in biofuel processing and efficiency.
- Global market fluctuations impacting commodity prices and availability.
- Environmental and regulatory considerations influencing sourcing strategies.
