The paraffin waxes refinery output in the UK is expected to increase steadily from 2024 to 2028, with forecasted values rising from 72.43 to 79.95 thousand tonnes of oil equivalent. The year-on-year percentage growth indicates a consistent upward trend, suggesting a stable and positive growth trajectory.
From 2023, where the production stood at 70 thousand tonnes of oil equivalent, there is a clear upward trend expected. Over the last two years, growth suggests an annual increase in output, with a compounded annual growth rate (CAGR) projected to further reinforce an upward trajectory over the next five-year period.
Future trends to watch for include changes in demand for paraffin waxes influenced by industries like cosmetics and packaging, potential regulatory impacts on refinery operations, and shifts in global trade dynamics affecting supply chain efficiencies.
