The UK's wood fuel trade balance in 2023 was the baseline for projections from 2024, which mark a starting value of 413.32 thousand metric tons. The forecast shows a steady increase through 2028, reaching 521.53 thousand metric tons. From 2024 to 2025, the trade balance grows by approximately 6.7%, with subsequent year-on-year increases of slightly over 6% each year. This steady upward trend defines a Compound Annual Growth Rate (CAGR) of around 5.9% for the five-year period from 2024 to 2028, reflecting a consistent demand for wood fuel trade within the UK.
Future trends to watch for:
- Potential impact of environmental policies aimed at reducing carbon emissions, which might alter the demand for wood fuels.
- Technological advancements in energy production that may affect the wood fuel trade.
- Fluctuations in global wood fuel supply chains and economic factors that might influence trade dynamics.
- Developments in domestic energy policies and renewable energy incentives that could encourage local production over imports.
