The UK's non-ferrous metal exports showed varying trends from 2013 to 2023. Starting with a decline of 13.03% in 2013, they saw ups and downs, notably an increase of 8.57% in 2016 followed by a sharp decline of 17.75% in 2020. The exports rebounded with a 20.56% rise in 2021 and stabilized with minor growth in the following years, standing at 1.88 million metric tons in 2023. The five-year CAGR up to 2023 was 0.27%, indicating slow but positive growth.
Looking ahead, the projections for 2024 onwards suggest stability in export volumes, with consistently flat growth at 1.88 million metric tons annually. The five-year CAGR for the forecasted period up to 2028 is negligible at 0.05%, implying minimal change in export volumes.
Future trends to watch for:
- Potential impacts of geopolitical events, trade tariffs, and policies affecting international trade.
- Technological advancements and shifts toward sustainable materials that may influence non-ferrous metal demand.
- Global economic conditions that could affect the balance between supply and demand in the non-ferrous metals market.
- Developments in recycling technologies which might alter the dynamics of metal exports.