The UK’s iron and steel sector is projected to see a sharp decline in the consumption of solid fossil fuels from 2024 onwards. Starting at 158 thousand metric tons in 2024, the consumption is expected to drop by 18.4% to 129 thousand metric tons in 2025, by 20.9% to 102 thousand metric tons in 2026, by 27.5% to 74 thousand metric tons in 2027, and further by 35.1% to 48 thousand metric tons in 2028. The compound annual growth rate (CAGR) highlights an overall decrease trend in solid fossil fuel consumption over the coming years.

Future trends to watch for include:

Technological advancements in the iron and steel production processes aimed at reducing fossil fuel dependency.
Government policies promoting sustainability and emission reductions could further accelerate the decline in solid fossil fuel usage.
Potential increases in investment towards renewable energy alternatives as companies strive to meet environmental standards and consumer expectations for greener products.