The chemical and petrochemical sector's final consumption of heat in Denmark has shown significant fluctuations over the years. In 2023, the consumption stood at 629.31 Terajoules. The sector experienced a stark decline from 2013 to 2015, followed by a recovery in 2016. From 2018 to 2023, a smoother trend in consumption can be observed, with minor year-on-year changes, indicating stabilization. The last two years saw a steady but minor increase of 0.23% annually. Over the past five years, the compound annual growth rate (CAGR) averaged 2.32%, indicating a modest upward trend.
Future trends to watch for include:
- Continued incremental growth with forecasted values indicating a 0.17% CAGR over the next five years.
- Potential for technological advancements and energy efficiency measures that could influence consumption patterns.
- Regulatory changes and sustainability initiatives impacting the sector's heat consumption.