In 2023, the natural gas consumption in the chemical and petrochemical sectors in the UK was recorded at 15.84 Thousand Gigawatthours. The forecast data indicates a consistent decrease over the next five years, with annual reductions of approximately 3.07%, 3.08%, 3.19%, and 3.23% from 2024 to 2028. The Compound Annual Growth Rate (CAGR) for this period is a decline of roughly 3.14%, signaling a downward trend driven by increasing energy efficiency and potentially shifts towards alternative energy sources.
Future trends to watch include:
- Transition to renewable energy in the chemical production process
- Impact of regulatory changes and government policies on energy consumption
- Technological advancements in energy conservation techniques
