The forecast for natural gas consumption in the processing and manufacturing of timber and similar products in China from 2024 to 2028 shows a steadily increasing trend. In 2023, the actual consumption stood at around 3.50 hundred million cubic meters. Comparing the forecasted data, consumption is expected to increase at a year-on-year rate of approximately 1.7% from 2023 to 2024, and continue with a steady upward trend averaging about 1.6% annually over the subsequent years. The compound annual growth rate (CAGR) over these five years is approximately 1.64%.
Future trends to watch for include:
- Potential shifts in technology and energy efficiency in the manufacturing process.
- Changes in policy regarding energy sources and emissions in China that might impact natural gas usage.
- Developments in alternative materials which might affect demand for traditional wood-based products.