The final consumption of renewables and biofuels by the chemical and petrochemical sector in the UK was estimated at 2.84 thousand terajoules in 2023. From 2024 to 2028, there is a forecasted growth in consumption from 3.01 to 3.7 thousand terajoules, indicating a consistent positive trend. This reflects an average annual growth rate (CAGR) over the forecast period of approximately 5.22%. Year-on-year percentage increases demonstrate a steady improvement, reflecting a growing commitment to renewable energy.
Future trends to monitor include technological advancements in renewable technologies and governmental policies influencing the rate of adoption. Additionally, market dynamics, such as energy prices and environmental regulations, will likely play critical roles in shaping demand in this sector.
