Coal Is Back By Popular Demand

Coal Demand to Plateau After 2026

Global Coal Consumption on the Rise

Despite Future Decline, Asia Keeps Coal Demand High

Despite a projected decline in global coal demand after 2026, the fossil fuel is expected to remain in high demand in Asia, keeping its consumption steady at approximately eight billion tons annually. According to the International Energy Agency (IEA), global coal demand reached a record high of 8.42 billion tons in 2022, driven by the global energy crisis. The agency forecasts a slight increase in thermal coal demand for power generation in 2022, surpassing its previous estimates. While coal consumption is expected to decline in the second half of this year, IEA estimates a demand of 1,330 million tons in 2024, representing a 6% increase. China's unwavering reliance on coal has contributed to its six consecutive years of increasing demand, setting record highs in both 2021 and 2022. Despite efforts to transition to cleaner energy sources, the global energy crisis triggered by Russia's invasion of Ukraine has fueled a surge in demand for coal, the most polluting fossil fuel.