Based on the forecasted data, wood fuel imports to the UK are expected to increase steadily from 2024 to 2028, reflecting a consistent annual growth pattern. The year-on-year growth reflects a 3.31% increase from 2024 to 2025, followed by a similar 3.14% rise from 2025 to 2026. The trend continues with a 2.99% increase expected from 2026 to 2027, and a 2.84% rise from 2027 to 2028. This translates to a Compound Annual Growth Rate (CAGR) of approximately 3.06% over the five-year period. In 2023, wood fuel imports stood at 368,000 metric tons as a reference point.
Future trends to watch for include:
- Potential changes in government policy regarding renewable energy and sustainability targets, which could impact import levels.
- Fluctuations in global market prices for wood fuel, affecting the affordability and competitiveness in the UK market.
- Technological advancements in bioenergy usage that may alter demand dynamics.