As of 2024, the Chemical and Petrochemical sector in the UK exhibited a consumption of renewables and biofuels at 71.8 thousand tonnes of oil equivalent. Compared to 2023, this demonstrates an increase with a steady year-on-year growth, projected to reach 88.4 by 2028. The forecast suggests a consistent annual growth rate over the five-year period, indicative of a strong upward trend driven by the sector's transition towards sustainable energy sources.
Future trends to watch for include:
- Technological advancements reducing biofuel costs.
- Policy changes impacting renewable energy incentives.
- Increases in global and domestic demand for reduced carbon footprint solutions.
