The data reveals a declining trend in coal consumption in China's manufacture of non-metallic mineral products, dropping from 31.63 ten million metric tons in 2013 to 23.79 in 2023. This represents a significant reduction, particularly between 2015 and 2019 when the consumption fell sharply. Though there was a brief increase in 2020, the downward trend resumed shortly after.
Year-on-year variation over the last two years shows minor declines, with a 1.23% decrease in 2022 and 2023 each. The compound annual growth rate (CAGR) over the past five years (2018-2023) stands at -0.44%, indicating an average annual decrease.
Looking to the future, forecasts suggest that the downward trend will continue, with coal consumption expected to decrease to 22.35 ten million metric tons by 2028. The forecasted five-year CAGR is -0.99%, signifying a steady reduction rate moving forward.
Future trends to watch for include:
- Potential shifts to alternative energy sources prompted by environmental regulations.
- Technological advancements in manufacturing that may optimize energy usage.
- Economic factors affecting the manufacturing sector and subsequent energy consumption patterns.
- Government policies aimed at reducing coal dependency to meet climate goals.
