Natural gas final consumption in Turkey's chemical and petrochemical sectors has grown significantly over the last decade. From 2013's 11.72 thousand GWh, consumption reached 31.63 thousand GWh in 2023, reflecting strong industrial growth and increased demand in these sectors.
Year-on-year variations show high volatility: significant growth in 2015 (56.94%) and a sharp decline in 2018 (-19.37%). The period from 2020 to 2023 saw more consistent growth, culminating in 3.98% in 2023. The average annual growth (CAGR) over the past five years (2019-2023) was 15.12%, indicating robust sector expansion.
Looking ahead, forecasts suggest a steady increase, with the consumption expected to reach 37.51 thousand GWh by 2028. The forecasted 5-year CAGR is 2.7%, indicating a gradually stabilizing growth trend.
Future Trends to Watch For:
- Shifts in global energy markets and natural gas prices.- Technological advancements in chemical and petrochemical manufacturing.- Government policies on energy efficiency and emissions.- Potential disruptions in supply chains impacting raw material availability.
