In 2023, the fuel oil consumption in the manufacture of leather, fur, feather, and related products in China was significantly higher compared to the forecasted figures for 2024 onwards. The forecast shows a declining trend in consumption from 2024 to 2028. Year-over-year, fuel oil usage is set to decrease by approximately 21.4% from 2024 to 2025, 17.3% from 2025 to 2026, 19.8% from 2026 to 2027, and 19.2% from 2027 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is expected to showcase an average annual decline of approximately 19.2%.
Future trends to watch for include:
- Adoption of more sustainable energy sources by manufacturers as environmental regulations tighten.
- Technological advancements that may enhance energy efficiency in production processes.
- Potential shifts in global demand affecting production scales and resource utilization.