The forecast for coke oven coke final consumption in the UK iron and steel sectors shows a steady decline from 2024 to 2028, with values decreasing from 98.83 to 25.54 thousand tonnes of oil equivalent. In 2023, the consumption stood notably higher, implying a significant decrease over the forecasted period. The year-on-year percentage change reveals a sharp downward trend, with substantial annual decreases. This results in a five-year compound annual growth rate (CAGR) that emphasizes the declining trajectory of coke consumption in this sector.
Future trends to watch include:
- The impact of policy regulations targeting carbon emissions reductions, possibly accelerating the decline in coke consumption.
- Technological innovations in the steel industry that might reduce reliance on coke oven coke, further decreasing consumption.
- The role of alternative fuels and processes, such as hydrogen-based steelmaking, potentially transforming the energy landscape of the sector.
