Overall global coal demand in 2022 is expected to exceed 8 billion tonnes for the first time

In 2022, the international coal market will be severely impacted, and the market price level and supply and demand pattern will change
greatly.
Global coal demand is expected to grow 1.
2% year-on-year, reaching a record high, exceeding 8 billion tonnes
for the first time.
The International Energy Agency (IEA) recently released its annual coal market report "Coal 2022", which analyzes and forecasts
the international coal market in the coming years.

The report notes that the world environment has dramatically changed global coal trade, price levels, and supply and demand patterns
in 2022.
The sharp rise in fossil fuel prices has triggered many consumers to switch from natural gas to other energy sources, driving up demand for more price-competitive energy sources, including coal
.
Nonetheless, rising coal prices, renewable energy growth, improved energy efficiency, and weak global economic growth slowed overall coal demand growth
in 2022.

The report predicts that global coal demand growth will slow significantly in 2022, increasing by only 1.
2%, but still setting a new record
of 8.
025 billion tons.
The slowdown largely reflects weakness in the global economy, but a variety of factors are supporting coal demand
, the report said.
In 2022, the largest increase in coal demand was in India, up 7% y-o-y (70 million tonnes), followed by the European Union with a 6% y-o-y increase (29 million tonnes), and again China, up 0.
4% y-o-y (18 million tonnes).

Global coal demand is expected to stabilize at around
8 billion tonnes by 2025.

The report notes that China's development is likely to have a significant impact
on the outlook for global coal demand.
China's coal consumption grew strongly in 2021, but is expected to grow at an average annual rate of around
0.
7% through 2025 due to increased renewable energy generation.
Between 2022 and 2025, China's renewable energy generation will increase by nearly 1,000 terawatt hours, equivalent to Japan's
total electricity generation in the current year.
Meanwhile, India's coal consumption has doubled since 2007, growing at an annual rate of 6%, and will continue to be the engine
of global coal demand growth.