The natural gas consumption in China's manufacture of raw chemical materials and chemical products has shown a steady upward trend. In 2023, the consumption stood at approximately 512.59 hundred million cubic meters. The forecast from 2024 indicates a continuous rise in consumption, reaching an expected 594.68 hundred million cubic meters in 2028.
Year-on-year variations reveal a consistent growth of around 3% in 2024 and 2025, slightly tapering off to 2.5% and 2.4% in the succeeding years. The compound annual growth rate (CAGR) over the next five years is projected to be around 3%, reflecting sustained demand in the industry.
Future trends to watch include technological advancements in chemical manufacturing, potential shifts in energy policies for carbon reduction, and fluctuating geopolitical factors that could impact natural gas availability and costs. Sustainability and energy efficiency will also play crucial roles in shaping future consumption patterns.
