The forecasted data for natural gas final consumption in the UK's iron and steel sector shows a declining trend from 2024 to 2028. In 2023, the consumption stood at approximately 8.89 Thousand Terajoules. The year-on-year decrease in consumption from 2024 to 2028 highlights reductions of 11.97% to 17.56% annually. The robust negative compound annual growth rate (CAGR) over the five-year period reflects an average reduction of approximately 11.88% per year in consumption.
Future trends to watch for include potential shifts towards alternative energy sources, driven by sustainability initiatives and regulatory changes within the industry. Additionally, advancements in energy efficiency technologies may further reduce reliance on natural gas in these sectors.
