From 2013 to 2023, the UK’s Liquefied Petroleum Gases (LPG) refinery output exhibited noticeable volatility. The peak was in 2014 at 110.91 thousand terajoules, followed by fluctuations, with significant drops in 2020 due to broader market disruptions. By 2023, the output stood at 97.67 thousand terajoules, reflecting a minor decrease of 0.57% from the previous year. Over the past five years, the Compound Annual Growth Rate (CAGR) was calculated at 0.46%, indicating marginal growth. However, projected figures from 2024 to 2028 suggest a CAGR decline of 0.47%.
Key trends from 2019 to 2021 include a sharp fall in 2020, a rebound in 2021 with output increasing by 13.79%, followed by moderate growth in 2022. Despite the fluctuation, the overall trend highlights increasingly stable, albeit slowing, output levels.
Future trends to watch for include potential policy changes linked to energy and environmental regulations, advancements in refining technologies, and shifts in demand for LPG influenced by macroeconomic factors. Monitoring global market dynamics and the impact of renewable energy adoption on LPG demand will be crucial for future outlooks.
