The forecasted natural gas consumption by the UK chemical and petrochemical sectors shows a declining trend from 2024 to 2028, decreasing from 1.32 to 1.16 Million Tonnes Of Oil Equivalent. In 2023, the consumption stood slightly above 1.32. Year-on-year decreases are small but consistent, averaging around a 3.2% decline annually. The Compound Annual Growth Rate (CAGR) from 2024 to 2028 indicates a steady reduction, reflecting a possible shift towards alternative energy sources or efficiency improvements within the sectors.
Future trends to watch for include:
- Adoption of greener technologies and increased utilization of renewable energy, potentially accelerating the decline in natural gas consumption.
- Policy changes and regulations influencing energy usage within the chemical and petrochemical sectors.
- Advancements in technology that may improve energy efficiency or bring alternative fuels into greater usage.
