Global coal consumption reached a new record in 2022 and is expected to remain at high levels this year, according to the International Energy Agency (IEA). The IEA’s latest market update revealed that coal consumption rose by 3.3% to 8.3 billion tonnes in 2022. Although Europe and the United States saw declines in coal consumption, strong growth in Asia’s power generation and industrial applications offset these declines. The IEA predicts that small declines in coal-fired power generation in 2023 and 2024 will be offset by increases in industrial use of coal, with regional variations. China, India, and Southeast Asian countries are expected to account for the majority of global coal consumption in 2023. Meanwhile, the European Union had minimal coal demand in 2022 due to a temporary spike in coal-fired power generation. Decreased coal use in the US is attributed to lower natural gas prices. The IEA emphasizes the need for stronger policies and investments in clean energy, as coal remains a major source of carbon emissions. Despite the growth of renewable energy sources, coal demand remains stubbornly high in Asia, requiring greater efforts in clean energy and energy efficiency. The IEA estimates that China and India will use twice as much coal together as the rest of the world in 2023. The US and European Union, which accounted for 40% of coal demand three decades ago, represent less than 10% today. The IEA expects European coal demand to continue falling as renewables expand.
National: Global Coal Demand to Stay at Record-Breaking Levels Through 2023
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