The forecast for natural gas consumption in the UK’s wood and wood products sector indicates a steady growth from 2024 to 2028. In 2023, the consumption value stood slightly below 46.76 Thousand Tonnes Of Oil Equivalent. Over the forecasted period, the year-on-year growth remains consistent, with an increase of approximately 1.5% annually. The compound annual growth rate (CAGR) over the five years is projected at around 1.6%, showcasing moderate yet stable growth in consumption.
Future trends to watch for:
- Potential technological advancements in energy efficiency that could impact consumption rates.
- The influence of environmental policies and regulations on natural gas usage within the sector.
- Market shifts towards alternative energy sources that might alter demand patterns.
