Global coal consumption is set to rise to an all-time high in 2022 and is expected to remain at similar levels in the next few years if more vigorous efforts are not made to move to a low-carbon economy, according to a report from the International Energy Exchange (IEA).
IEA in its annual market report said that global coal use is set to rise by 1.2 per cent in 2022, surpassing 8 billion tonnes in a single year and eclipsing the previous high set in 2013. According to IEA, the largest increase in coal demand this year is expected in India (+7 per cent), followed by the European Union (+6 per cent) and China (+0.4 per cent).
The report forecasts that global coal consumption will remain flat at this level through 2025 as a decline in demand from mature markets will be offset by robust demand in emerging Asian economies. IEA said that higher natural gas prices amid the global energy crisis have led to increased reliance on coal for generating power, but slowing economic growth has simultaneously reduced electricity demand and industrial output.
