The copper market in Italy exhibited significant fluctuations from 2013 to 2023, starting at 2.2409 billion kilograms in 2013 and concluding at 2.0407 billion kilograms in 2023. The year-on-year trends indicate notable growths in 2017 and 2018, with respective increases of 4.2% and 4.95%. However, the market faced declines in several years, especially in 2019 and 2020, with reductions of 8.11% and 7.85%, respectively. Most recently, the market slightly contracted by 0.8% in both 2022 and 2023. There is an observed compound annual growth rate (CAGR) of -2.1% from 2021 to 2023.
Looking ahead, the forecast from 2024 to 2028 suggests a continuous albeit slight decrease, with the market expected to reach 1.9606 billion kilograms by 2028. The forecasted 5-year CAGR is -0.64%, indicating a slow but steady decline, with an aggregate reduction of 3.15% over the forecast period.
Future trends to watch for:
- Potential impacts of global economic shifts and policies on copper demand.
- Technological advancements and their effect on copper usage efficiency.
- Substitution risks from alternative materials.
- Environmental regulations influencing copper mining and production.
