In the UK, the forecasted data from 2024 to 2028 suggests a consistent decline in fossil energy final consumption within the chemical and petrochemical sectors. Starting from 2024 at 1.95 million tonnes of oil equivalent, the demand shows an annual decrease, reaching 1.53 million tonnes by 2028. The 2023 consumption was slightly higher, indicating a continuous downward trend. Year-on-year percentages reflect a steady reduction, emphasizing adherence to sustainability goals. The 5-year compound annual growth rate (CAGR) underscores this decline, averaging a decrease of around 5% per year.
Future trends to watch for include the impact of the UK's energy transition policies, emphasis on green technologies, and shifts toward renewable energy sources. These factors could further decrease fossil energy demand, reshaping the sector's landscape.
