Kerosene consumption in China's industry has exhibited significant volatility over the past decade, beginning in 2013. The consumption peaked intermittently, notably in 2015 and 2018, but exhibited a general downward trend. In 2023, the consumption stood at 8.55 Ten Thousand Metric Tons, marking an 11.43% decline from the previous year and a 19.25% Compound Annual Growth Rate (CAGR) decline over the last five years.

Year-on-year variations highlight the fluctuating nature of this market, with sharp declines and occasional rebounds. Over the last two years, the downward trend continued with an 11.43% decrease in 2023 and a 9.18% decrease in 2022. Looking ahead, the forecast indicates a continuing decline, projecting a 56.45% reduction from 2023 levels by 2028, with a forecasted 5-year CAGR of -15.32%.

Future trends to watch for:

Impact of alternative fuels and renewable energy adoption in reducing industrial kerosene demand.
Technological advancements improving fuel efficiency, potentially lessening kerosene consumption.
Policy changes and regulatory measures aimed at reducing fossil fuel usage in industrial operations.