The consumption of fuel oil in the processing of petroleum, coking, and processing of nuclear fuel in China is projected to rise from 2024 to 2028, starting at 2.54 ten million metric tons in 2024 and reaching 2.85 ten million metric tons by 2028. In 2023, this figure stood at 2.46 ten million metric tons. Over this period, the year-on-year percentage increase in consumption is consistent, with a Compound Annual Growth Rate (CAGR) suggesting a steady increase in demand.
Future trends to watch include technological advancements in refining processes that may alter fuel oil efficiency and consumption patterns, potential regulatory changes impacting the industry, and global shifts to renewable energy that could influence the long-term demand for fuel oil.
