The number of enterprises in the UK precious metals sector is forecasted to decline significantly from 2024 to 2028. In 2023, there were 23 enterprises, which will decrease year-on-year by approximately -9.5% until 2028. This results in a five-year compound annual growth rate (CAGR) of approximately -11.1%. The sector shows a concerning trend of declining enterprise presence, signaling potential challenges in maintaining market vitality and competitive edge.

Future trends to watch for include:

Impact of economic policies and regulations on the industry’s profitability.
Potential industry consolidation due to the shrinking number of enterprises.
Technological advancements and sustainability initiatives impacting operational efficiencies.