In 2023, the UK's coke and refined products sector consisted of 84 enterprises. Forecasts indicate a consistent decline in the number of enterprises, dropping to 79 by 2024 and further down to 58 by 2028. This represents a significant decrease, with a compound annual growth rate (CAGR) of -6.99% over five years. Year-on-year variations indicate a reduction trend, averaging 6-7% annually. Factors such as market consolidation, regulatory changes, or shifts in demand could contribute to this trend.
Future trends to watch for include:
- Technological advancements in refining processes.
- Impacts of environmental policies on production costs.
- Potential market entry barriers for new enterprises.
- Fluctuations in global oil prices affecting industry dynamics.
