In 2023, the final consumption of naphtha in the UK's industry was approximately 2.31 thousand terajoules. From 2024 onwards, projections indicate a consistent decline: a decrease of 3.57% in 2025, a further 4.17% in 2026, 3.86% in 2027, and another 4.02% in 2028. Over the forecasted five-year period from 2024 to 2028, the compound annual growth rate (CAGR) is expected to be -4.02%.
Future trends to watch for include:
- The impact of sustainable practices and green policies on industrial naphtha consumption.
- Technological advancements and their potential to improve energy efficiency, thereby reducing reliance on naphtha.
- Fluctuations in global oil prices and their influence on naphtha's industrial use in the UK.