Economic growth in many Asian countries drives coal consumption
Rapid growth in coal consumption in emerging Asian economies
As one of the most promising economies, India is working in both fossil energy and renewable energy. From the production side, India’s largest coal producer, the National Coal Company of India, has soared in recent years, reaching nearly 570 million tons in 2018, and has become the world’s largest coal producer. The company has proposed 2020 The target of 1 billion tons of coal production per year.
From the perspective of the world's coal production structure, India's share is increasing with the increase in coal demand. India’s share of world coal production increased from 8.8% in 2015 to 9.9% in 2018.
The Indian National Coal Company is only a microcosm of India's coal production. In the future, with the continued advancement of industrialization and urbanization, there is still much room for growth in India's coal consumption demand.
In recent years, Vietnam has taken advantage of its latecomer, using cheap labor, stable government policies, and a large local market to attract foreign capital, and has gained a “place” in the global manufacturing division. With the rapid economic development, Vietnam's coal consumption has increased substantially, from a net exporter of coal to a net importer, and the consumption gap continues to expand.