The Value Added of Non-Ferrous Metals in Canada stood at 6.49 billion Canadian Dollars in 2023. Over the past decade, the industry has experienced fluctuations, peaking at 7.26 billion in 2018 and encountering a decline thereafter. Specifically, the value dropped by 1.06% in 2022 and by 1.05% in 2023. Over the last two years, the value showed a decline trend, while the average annual growth rate (CAGR) over the last five years was negative at -2.24%. The forecasted CAGR until 2028 is projected to be -0.9%, indicating a gradual decrease in production value over the next five years.
Future trends to watch for include technological advancements in metal extraction and processing, shifting demand for non-ferrous metals in renewable energy sectors, and potential policy changes impacting mining regulations. Monitoring these factors could provide insights into new growth opportunities and potential market recovery.
