The naphtha consumption in the UK has seen fluctuating trends from 2013 to 2023, with a significant drop in 2016 and modest recovery in the subsequent years. By 2023, the consumption stood at approximately 0.65 Thousand Gigawatthours, marking a decline from previous years and showcasing varying cycles of growth and contraction. The year-on-year variation for 2023 was negative at -3.29%, indicating a slight downturn compared to 2022. Over the past five years, there has been an overall decline with a forecasted 5-year CAGR of -3.1%, suggesting a general downward trend in consumption.
Future trends to watch for include:
- Potential shifts in industrial demand for naphtha due to changes in energy sources and technologies.
- The impact of environmental regulations which may further reduce dependency on naphtha.
- Global economic factors that could influence industrial output and energy requirements.
