The forecast for paraffin wax imports to the UK from 2024 to 2028 suggests a gradual increase in volume, rising from 48.11 to 49.66 thousand tonnes of oil equivalent. Throughout the forecasted period, the import volume shows consistent annual growth, though at a moderate pace. The year-over-year growth remains steady, with slight increment increases observed as 2028 approaches.
In 2023, the actual import volume was 47.7 thousand tonnes of oil equivalent. Compared to this baseline, the forecast indicates an average annual growth rate of approximately 0.8% over the next five years.
Future trends to watch for include:
- Potential shifts in international trade policies affecting import volumes.
- Technological advancements leading to alternative materials or substitutes reducing paraffin wax demand.
- Changes in consumer preferences and environmental regulations influencing imports.
