The kerosene consumption in China's manufacturing sector has demonstrated significant variability over the past decade. From 2013 to 2023, the consumption has generally followed a declining trend. Specifically, the value stood at 8.17 in 2023, highlighting a consistent drop, especially after peaking in 2018 at 22.56. The year-on-year variations show a mixture of increases and decreases with notable drops in 2014 and 2019. Moreover, the last five years' CAGR indicates an average annual decline of approximately 18.38%.
Looking forward, forecasting data from 2024 to 2028 shows a continuous and steep decline in kerosene consumption. The projected CAGR for this period is around -11.75%, signifying that manufacturers are likely to keep reducing their reliance on kerosene, possibly due to more stringent environmental regulations and a shift towards cleaner energy sources. By 2028, the value is anticipated to fall to 3.81, a significant decrease of about 46.48% from 2023.
Future trends to monitor include the adoption of alternative fuels, government policies favoring green energy, technological advancements in manufacturing efficiency, and global market influences on fuel supply and prices.
