In 2023, the final consumption of solid fossil fuels in the UK’s non-metallic minerals sector stood at an estimated level prior to the forecasted decline. Over the forecasted period from 2024 to 2028, the consumption is projected to decrease continuously. Year-on-year, the consumption is expected to decline by approximately 12.4% in 2025, 14.1% in 2026, 15.4% in 2027, and 18.2% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 suggests an average annual decrease of about 15.8%.
Future trends to watch for:
- Technological advancements in energy efficiency and alternative energy sources could further accelerate the decline in solid fossil fuel consumption.
- Potential policy changes aimed at reducing carbon emissions may influence the pace of reduction significantly.
- Global market fluctuations and economic conditions could impact the sector's demand dynamics.