The forecast for the chemical and petrochemical sector's final consumption of natural gas in Germany shows a steady increase from 2024 to 2028. Starting at 234.35 thousand terajoules in 2024, the sector's consumption is expected to grow incrementally by approximately 0.73% to 0.76% each year, reaching 241.1 thousand terajoules by 2028. In 2023, prior to these forecasts, the consumption value stood at a lower point, indicating a continued upward trend from actual 2023 figures. The compound annual growth rate (CAGR) over these five forecasted years stabilizes around 0.72% per year.
Future trends to watch for include:
- Regulatory changes affecting natural gas usage as Germany moves towards renewable energy sources.
- Technological advancements in the chemical and petrochemical sector that might alter natural gas dependency.
- Global market dynamics impacting natural gas prices and availability, influencing consumption patterns.