Coal Demand in Asian Countries Rebounds

 In recent years, U.S. coal exports have been steadily increasing to meet the growing global demand for fossil fuels, despite a decline in domestic consumption. In addition, data from the Global Energy Monitor shows that global coal power capacity reached a new high of nearly 2,175 gigawatts in 2024. Coal capacity refers to the total power output that coal-fired power plants can generate. Dorothy Mei, project manager of the Global Coal Mine Tracking program at the Global Energy Monitor, said: "Although coal consumption in Europe and the U.S. has dropped significantly, the global transition away from coal remains challenging, mainly due to increased demand in Asia." The International Energy Agency predicts that global coal demand will also exceed 87.7 million tons in 2024 and will remain at a similar level until 2027.

 India's focus on economic and infrastructure development has also boosted the consumption of cement and steel, which are heavily dependent on coal.

 In addition to India and China, Bangladesh, Indonesia, and Vietnam are also major countries constructing new coal-fired power plants. Vietnam is the fifth largest coal importer in the world. Last year, Vietnam's coal import volume reached a new high in more than a decade. According to data from the Indonesian Ministry of Energy and Mineral Resources, Indonesia's coal production last year rose to around 8.31 billion tons, setting a new record. In 2023, coal's share in the Philippines' power structure exceeded that of China, making it the most coal-dependent country in Southeast Asia. The strong coal demand across Asia is also partly a result of the soaring natural gas prices since the Russian-Ukrainian war.

 Global electricity consumption is expected to continue rising in 2025. Artificial intelligence has also accelerated the world's demand for energy. The report shows that the electricity demand driven by data centers around the world will also extend the demand for coal. A report from Moody's ratings shows that by 2030, the electricity demand of data centers may exceed 35 gigawatts, more than double the 17 gigawatts in 2022.