The number of enterprises in the UK's Manufacture of Basic Precious and Other Non-Ferrous Metals sector is forecasted to decrease gradually from 290 in 2024 to 263 by 2028. This represents a year-on-year decline of approximately 2.4% between 2024 and 2025, 2.5% between 2025 and 2026, 2.5% between 2026 and 2027, and 2.2% between 2027 and 2028. The compound annual growth rate (CAGR) over the five-year forecast period is approximately -2.4%, indicating a steady contraction in the sector.
Future trends to watch for include:
- Potential impacts of technological advancements on production efficiency.
- Shifts in global demand for non-ferrous metals.
- Regulatory changes that could influence production costs and competitiveness.
