The sales of Secondary Precious Metals and Precious Metal Alloys in the US have experienced fluctuations over the past decade. In 2023, sales stood at $7.9171 billion, showing a year-on-year increase of 2.87% from 2022. The trend has shown significant annual variations, including a notable drop in 2015 (-13.22%) and a surge in 2021 (+30.53%). From 2019 to 2023, the Compound Annual Growth Rate (CAGR) was 3.19%, indicating moderate growth.
Looking forward, the forecasted data from 2024 to 2028 expects a continued growth path. By 2028, the market is projected to reach $9.0946 billion. The forecasted five-year CAGR is anticipated at 2.13%, with an overall growth rate of 11.09% over the five-year period.
Future trends to watch for:
- Technological advancements in recycling processes
- Demand shifts driven by industrial applications and consumer electronics
- Policy changes affecting the precious metals market
