Global Share in Total Domestic Material Consumption of Metals by Country

Based on the forecasted data for 2023, Chile leads with a significant 85.94% share in total domestic material consumption of metals. Armenia (77.97%), New Caledonia (77.92%), and Peru (69.86%) follow as the countries with the highest shares, indicating heavy dependence on metals for their domestic consumption. Other notable countries include Papua New Guinea (69.68%), Guyana (59.24%), and Zambia (57.75%). On the lower end, major economies like China (9.61%), the United States (8.22%), and Japan (8.65%) also show a smaller but substantial share, reflecting their industrial base and consumption patterns.

Future Trends to Watch For

Looking ahead, the global trend suggests a continued increase in the consumption of metals driven by urbanization and technological advancements. Countries with higher industrial growth rates, particularly in Asia and Africa, are expected to see significant variations. Efforts toward sustainable mining and recycling are critical as demand pressures increase reflecting in varying domestic consumption patterns. Economic policies, global trade agreements, and environmental regulations will play pivotal roles in shaping the global metal consumption landscape.