The US palladium production has displayed variable growth trends from 2013 to 2023. Notably, there were fluctuations such as the dips in 2014 and 2020, highlighted by year-on-year decreases of -1.59% and -3.87% respectively. However, the production witnessed significant surges, especially in 2016 and 2021, with increases of 5.6% and 11.79%. As of 2023, the value stood at 14.17 thousand kilograms, reflecting a modest year-on-year rise of 1.08%. The compound annual growth rate (CAGR) over the last five years was 1.15%.
Looking forward to the forecasted data starting from 2024, the production is expected to grow steadily, reaching 15.0 thousand kilograms by 2028. The forecasted CAGR for this period is 0.84%, signifying a 4.28% overall growth over the next five years.
Future trends to watch for include:
- Technological advancements in palladium extraction and refining.
- Global and domestic policy changes affecting mining regulations.
- Market demand shifts influenced by the auto industry's move towards electrification and potential supply constraints.
- Environmental and sustainability considerations shaping the industry practices.
