Over the past decade, coal consumption in petroleum refineries and coal-to-liquids in China has shown a significant upward trend, growing from 459.0 ten thousand metric tons in 2013 to 3850.0 ten thousand metric tons in 2023. Notably, there were substantial increases in specific years, with the most remarkable growth rates observed in 2016 (62.78%) and 2018 (59.24%). However, growth rates have slowed slightly in recent years, with the year-on-year variation in 2022 being 8.05% and in 2023 7.37%. The compound annual growth rate (CAGR) over the last five years stands at 9.05%.
For the forecast period up to 2028, the projected CAGR is 4.54%, predicting a total growth of 24.83% over the next five years.
Future Trends to Watch For:
- Potential impact of environmental regulations on coal consumption.
- Advancement in renewable energy technologies and their adoption rates.
- Economic factors influencing demand in petroleum and chemical industries.
- Technological improvements in coal-to-liquid conversion processes.
