In 2023, the UK's additives and oxygenates gross inland consumption stood at 1.1 thousand tonnes of oil equivalent. The forecast for 2024 predicts a slight increase to 1.05, but the trend is expected to decline significantly in subsequent years, reaching -4.58 by 2028. This amounts to a negative compound annual growth rate (CAGR) over the five-year period. The year-on-year declines indicate a dwindling demand or a shift towards alternative energy sources.
Future trends to watch for include the UK's ongoing transition to renewable energy sources and tighter regulations on fossil fuel-based additives. Monitoring technological advancements in energy storage and efficiency could also influence future consumption patterns.
