In 2023, the final consumption of renewables and biofuels in the UK's chemical and petrochemical sectors was approximately 2.82 thousand terajoules. From 2024 to 2028, a steady increase is observed with consumption values projected to rise from 3.0 to 3.69 thousand terajoules, indicating a compounded annual growth rate (CAGR) of about 5.3%. Year-on-year percentage variations are consistently around 5.8% to 5.9%, showcasing a robust upwards trend.
Future trends to watch for include:
- A shift towards more sustainable practices in response to climate policies.
- Technological innovations enhancing the efficiency of renewable energy use.
- Economic and regulatory factors influencing the pace of adoption.
