Between 2013 and 2023, the energy consumption in ethanol production in South Korea displayed fluctuations, with significant declines in the early and mid-2010s, followed by a stabilizing and gradual upward trend in recent years. In 2023, the consumption stood at 81.84 thousand tonnes of oil equivalent, showing an increase from the previous year's figure. Notably, the year-on-year variation in 2023 was 1.41%, whereas the five-year CAGR from 2018 to 2023 was 1.36%. Looking forward, forecasted data through to 2028 indicates a continuation of this upward trend with a forecasted five-year CAGR of 0.92% and an overall growth rate of 4.67%.
Future trends to watch for include the potential impacts of new environmental regulations, technological advancements in ethanol production, and changes in the global energy market dynamics. These factors could drive significant changes in energy consumption patterns within the industry.