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.