The UK wood and wood products sector is experiencing a forecasted decline in fuel oil consumption from 2024 to 2028. Starting from 23.32 Terajoules in 2024, the consumption is projected to drop significantly to 4.98 Terajoules by 2028. This represents a substantial decrease in year-on-year consumption, with an approximate annual reduction of 29.6%, calculated using a 5-year CAGR. This trend indicates a shift towards alternative energy sources or efficiency improvements within the sector.
Future trends to watch include the adoption of renewable energy solutions, technological advancements in energy efficiency, and potential regulatory changes aimed at reducing carbon footprints within industrial sectors.
