Recently, the International Energy Agency (IEA) predicted in its "2021 Coal Report" that global coal demand is expected to reach 8.025 billion tons in 2022, driven by coal consumption in countries like China, India, and Southeast Asia, surpassing the record set in 2013, marking the highest level in history. Furthermore, global coal consumption is expected to continue rising in 2024, reaching a new record of 8.031 billion tons.

The report predicts that from 2022 to 2024, China's average annual coal consumption growth will be below 1%, with a cumulative increase of 13.5 million tons during this period. India's coal demand is expected to grow by 4% annually, with an increase of 13 million tons from 2021 to 2024. At the same time, global coal production is also expected to reach a historical high of 8.111 billion tons in 2022, with the largest increases coming from India, China, Russia, and Pakistan. In 2024, global coal supply is expected to increase by 12.5 million tons, reaching 8.014 billion tons. To address coal supply shortages, major coal-producing countries like India, Russia, and Pakistan are expected to expand production.

Regarding the counter-cyclical growth of global coal-fired power generation in 2021, the International Energy Agency stated that due to the COVID-19 pandemic causing a slowdown in the global economy, coal-fired power generation saw a decline in 2020. However, this year's growth in electricity demand has exceeded the supply capacity of low-carbon energy, leading many wealthy countries to rely more on fossil fuel power generation. The output of coal-fired power plants surged by 9% this year, compared to a 4% decline last year.

In addition, the report also analyzes that the tightening of global natural gas supply this year has led to record high natural gas prices around the world, which has also driven the growth of coal demand. As analyzed in the latest "Short-Term Energy Outlook" report by the U.S. Energy Information Administration, due to the significant rise in natural gas prices and relatively stable coal prices, U.S. coal-fired power generation in 2021 is expected to increase by 22% compared to 2020, marking the first increase in U.S. coal power since 2014.

The reporter also noted that in the final part of the report, the International Energy Agency issued a warning: without policy intervention from various countries, global demand for coal is likely to reach a new historical high next year.