Forecast: Chemical and Petrochemical Sector Final Consumption of Natural Gas in Turkey

In 2023, the final consumption of natural gas in Turkey’s chemical and petrochemical sector stood at 31.63 thousand gigawatthours. Analyzing year-on-year variations, 2022 saw an increase of 4.07%, while 2023 experienced a growth rate of 3.98%. When looking at the compound annual growth rate (CAGR) over the last 5 years leading up to 2023, the sector has grown at an average rate of 15.12% per year. Forecasted data project a steady growth, with the sector expected to reach 37.51 thousand gigawatthours by 2028, growing at a 5-year CAGR of 2.7%.

Future Trends to Watch For:

• Potential shifts in government policy and economic conditions impacting natural gas consumption.
• Technological advancements aimed at enhancing efficiency and reducing dependency on natural gas.
• Environmental regulations and the industry’s move towards sustainable energy sources.
• Market dynamics such as supply chain disruptions or global natural gas prices affecting the sector’s consumption patterns.