The final consumption of fuel oil in Finland's Chemical and Petrochemical sectors has exhibited a declining trend from 2014 through 2023. In 2023, the consumption stood at 16.64 thousand tonnes of oil equivalent. Over the past two years, the consumption decreased by 5.57% in 2023 after a significant drop of 23.89% in 2022. The compound annual growth rate (CAGR) over the last five years has been -6.39%, indicating a consistent downward trend.
Key future trends to watch for include:
- Continued decline in fuel oil consumption driven by environmental regulations and shifts towards more sustainable energy sources.
- Innovations in chemical and petrochemical processes aiming to increase energy efficiency and reduce reliance on traditional fuel oils.
- The potential impact of economic factors and geopolitical developments on oil prices and availability, influencing consumption patterns in the sector.