The chemical and petrochemical sector's electricity consumption in the UK is projected to decline steadily from 1.18 Mtoe in 2024 to 1.10 Mtoe by 2028. The forecast indicates a consistent decrease year-on-year, at approximately –1.7% annually. In comparison to 2023, when the consumption was recorded at the same level as 2024, it reflects a downward trend in the industry's energy usage. This shift can be attributed to improved energy efficiency measures and a potential pivot towards sustainable practices.
Future trends to watch include:
- Technological advancements aimed at increasing energy efficiency.
- Regulatory changes encouraging renewable energy adoption.
- Market shifts due to decarbonization and sustainability initiatives.
- Impact of global energy price fluctuations on the sector.
