The Strategist

IEA: World demand for coal in 2023 will grow slightly

07/28/2023 - 03:31

The International Energy Agency (IEA) forecasts that the world's coal demand will be roughly stable at 8.388 billion tonnes by the end of this year.

"Total global coal demand in 2023 is expected to be unchanged at around 8.388 billion tonnes (+0.4%)," the agency stated in a report.

"Weather conditions and the state of the economies of major coal consuming countries will determine whether coal demand increases or decreases in 2023," the IEA added.

The agency projects that coal demand would rise by roughly 1.5% year over year to 4.665 billion tonnes in the first half of this year, driven by a 1% increase in global power output and a 2% growth in non-energy sectors. The gain in the first half of the year is likely to be offset by a fall in worldwide coal-fired power generation in the second half of the year.