In 2023, primary solid biofuels final consumption in the UK's chemical and petrochemical sectors stood at a certain level, which is not provided. Starting in 2024, consumption is forecasted to increase steadily at a year-on-year growth rate: 6.49% from 2024 to 2025, 6.00% from 2025 to 2026, 5.52% from 2026 to 2027, and 5.15% from 2027 to 2028. The compound annual growth rate (CAGR) over the five years from 2024 to 2028 is expected to be around 5.79%, indicating a strong and consistent upward trend in biofuels consumption.
Future trends to watch for:
- Technological advancements improving biofuel efficiency.
- Regulatory changes promoting renewable energy use.
- Economic factors affecting energy demand and production costs.
