Global Coal Demand and Production in 2024
Global demand for coal and coal production broke records in 2024, largely driven by China despite being the world's worst polluter. The International Energy Agency's study highlights China's significant increase in coal consumption and production, with the country approving hundreds of new coal power plants. The report also discusses the rebound of global coal use after the pandemic, with coal prices remaining high. Despite the high coal usage, the IEA expects coal demand not to increase significantly through 2027 and credits China with diversifying its power sector with renewable energy.
Key Points
- China consumes 30% more coal than the rest of the world combined
- Global coal use rebounded in 2024 after pandemic-related decline
- China and India are the most prominent nations increasing coal consumption
- European Union and United States experiencing declining coal demand
Pros
- Increased energy self-sufficiency for China
- Diversification of China's power sector with renewable energy
- Record high coal production and consumption globally
Cons
- China's significant contribution to global pollution
- Approval of hundreds of new coal power plants despite being a signatory to the Paris Climate Agreement