The paraffin waxes gross available energy in the UK has been forecasted to decline steadily from 2024 to 2028, decreasing by 150 Terajoules annually. As of 2023, the figure stood at a higher level, marking the start of a downward trend. Each year, there is approximately a 9.57% decline compared to the previous year, reflecting consistent reductions. Over a five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is a negative value, indicating a persistent contraction in available energy.
Future trends to watch include the impact of sustainable alternatives on paraffin demand and energy policies affecting imports and production. Additionally, technological advancements in waste reduction and energy efficiency could play pivotal roles in this industry's future landscape.
