The consumption of natural gas in the UK's textile and leather sector is forecasted to decline significantly over the coming years. From 2023, the forecasted values indicate a consistent year-on-year decrease. With the 2023 consumption level as a baseline, the sector's natural gas use is expected to decrease by approximately 10% annually from 2024 to 2028. This trend suggests a shift towards more energy-efficient practices or alternative energy sources. Over the five-year period, a CAGR of -12% is anticipated, highlighting a substantial reduction in natural gas reliance within the industry.
Future trends to watch for:
- The potential rise in renewable energy adoption and technological advancements aimed at energy efficiency.
- Government regulations and incentives that may further drive energy transition within the industry.
- Market adaptations and how the textile and leather sector responds to energy consumption challenges.