The forecast for coking coal consumption in the UK indicates a steady decline from 2024 to 2028. In 2023, the coking coal available for consumption stood at a baseline against which 2024 and onward are measured. From 2024 to 2028, values decrease annually, reflecting a progressive reduction in use. Year-on-year, 2025 sees a 6.8% decrease, 2026 a 7.2% decrease, 2027 an 8% decrease, and 2028 shows an 8.1% decrease. The compound annual growth rate (CAGR) reflects a consistent reduction in usage, suggesting an annual average decrease over this five-year period.
Future trends to watch for include any advancements in alternative energy sources that may further reduce reliance on coking coal. Additionally, regulatory changes and innovations in steel production, a primary coking coal consumer, could significantly impact future demand. Exploring the potential for increased recycling in industries could also shift consumption patterns.
