Coal-based utilities will emerge as the major consumers of thermal coal, with total demand touching 860 mnt in FY’25, up from 845 mnt in FY’24. Captive producers will account for a total consumption of around 158 mnt in FY’25, as per data, an increase from around 150 mnt in FY’24. While coal consumption of the domestic cement industry should be around 46 mnt in FY’25, sponge iron producers will likely consume around 54 mnt of non-coking coal in FY’25, up from 50 mnt in FY’24. Other sectors such as the fertilizer and paper industries are expected to consume around 10 mnt of non-coking coal by FY’25, marginally up compared with FY’24.
