India's copper smelter production has exhibited significant fluctuations over the past decade. Starting from 696.0 thousand metric tons in 2013, production fluctuated, peaking at 823.1 thousand metric tons in 2017 before a sharp decline to 491.5 thousand metric tons in 2018. The decline in production was followed by a period of volatility from 2019 to 2023, with production standing at 569.95 thousand metric tons in 2023. Over the last two years, production saw marginal declines of 0.86% and 0.85%, respectively. The compound annual growth rate (CAGR) over the last five years averaged 3.01%.
From 2024 onwards, forecasted data suggests a continued gradual decline in copper smelter production, with a projected 5-year CAGR of -0.72%. By 2028, production is expected to be 544.56 thousand metric tons, marking an average annual decline of 3.55%.
Future trends to watch for include:
- The impact of technological advancements in smelting processes which could drive efficiency improvements.
- Government policies and regulations affecting the mining and smelting sectors.
- Global demand and prices for copper, influenced by factors such as renewable energy projects and electric vehicle production.
