As of 2023, coal consumption in the smelting and pressing of non-ferrous metals in China stood at 27 million metric tons. The forecast shows a continuous year-on-year increase from 2024 to 2028, revealing a pronounced rise in coal dependency for this sector. Specifically, consumption is expected to grow by approximately 5-6% annually within this period. The compound annual growth rate (CAGR) over the forecasted period of 2024-2028 is estimated at around 5.4%, indicating sustained upward momentum driven by industrial demand.
Future trends to watch for:
- Shifts in energy policies and regulations in China focusing on environmental impacts and carbon emissions could significantly influence coal usage patterns in this sector.
- Advancements in technology, potentially leading to increased energy efficiency and reduced coal dependency in metal smelting and pressing.
- Fluctuations in market demand for non-ferrous metals which might impact coal consumption levels.