In 2023, the import of precious metal compounds (excluding gold, silver, and amalgam) to the UK stood at an undisclosed baseline. Forecasts indicate a pronounced declining trend, falling from 13.82 thousand kilograms in 2024 to 4.21 thousand kilograms by 2028. Year-on-year, imports are expected to decrease significantly, with compound annual growth rate (CAGR) showing a strong contraction. This suggests shrinking demand or potential substitution by domestic alternatives.
Future trends to watch include:
- Potential policy changes affecting trade tariffs and costs.
- Shifts in industrial demand and technological advancements.
- Development in recycling technologies reducing need for imports.
