The copper market in the UK has shown volatility over the past decade. The market size value stood at €1.2804 billion in 2023, reflecting a marginal 0.48% year-on-year decline from 2022. Over the last five years, the market witnessed an average annual growth of 0.4%. From a broader perspective, the market showed fluctuations with a peak value of €1.4939 billion in 2013 and a notable drop to €1.0782 billion in 2020. Forecasts from 2024 to 2028 indicate a gradual decline in market size, with an average annual contraction of 0.4% and an overall drop of 1.98% in five years.
Future trends to watch for:
- Increasing adoption of alternative materials which may impact copper demand.
- Technological advancements in copper extraction and recycling that could alter supply dynamics.
- Regulatory changes and environmental policies impacting the metal's production and usage.
- Fluctuations in global economic conditions influencing the copper market.