From 2013 to 2023, the final consumption of heat in the chemical and petrochemical sector in Austria exhibited a general downward trend, starting at 3.3 thousand terajoules in 2013 and dipping to a low of 2.3 thousand terajoules in 2021. However, there was a notable recovery in 2022 and 2023, with consumption rising again to 2.75 thousand terajoules in 2023, reflecting a year-on-year increase of 4.73% and a last five-year CAGR of 1.1%. This suggests a reversal from previous declines and hints toward stabilization and moderate growth in heat consumption.
Looking ahead, forecasted data from 2024 to 2028 suggests a steady growth in heat consumption for the chemical and petrochemical sector, with an expected 5-year CAGR of 1.6% and an overall growth rate of 8.28% by 2028. It indicates confidence in the sector's medium-term recovery and expansion.
Future trends to watch for include:
- Advancements in energy efficiency and technological improvements.
- Policy changes impacting chemical and petrochemical industries.
- Evolving market demands and potential shifts towards sustainable practices.