The analysis of global metals consumption by country for 2023 reveals that Chile, Armenia, and Papua New Guinea are the top consumers, with significant year-on-year variations. Armenia showed a notable increase of 2.51%, while Myanmar had the highest jump at 12.77%. Other countries like Burkina Faso, Ecuador, and Iceland also indicated robust increases. Conversely, Bosch and Herzegovina, Fiji, Botswana, and Norway experienced significant declines in their consumption rates. The compound annual growth rate (CAGR) over the past five years highlights notable rises in countries such as Burkina Faso and Guatemala, while Moldova and Bangladesh are gaining ground.
Future trends to watch for in global metals consumption include: - The impact of global infrastructure investments, especially in developing countries. - The transition towards sustainable energy sources and electric vehicles. - Market uncertainties due to geopolitical factors and trade policies. - Technological advancements in metal extraction and recycling processes.
Top countries in Metals Consumption by Country
| # | 10 Countries | Percent of Domestic Material Consumption | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Chile | 88.49 | 2023 | +0.079% | +0.072% | View data |
| 2 | 2 Armenia | 80.67 | 2023 | +2.09% | +2.51% | View data |
| 3 | 3 Papua New Guinea | 71.89 | 2023 | +0.71% | +0.59% | View data |
| 4 | 4 Peru | 71.52 | 2023 | +0.56% | +0.5% | View data |
| 5 | 5 Guyana | 59.21 | 2023 | +1.44% | +1.61% | View data |
| 6 | 6 Kazakhstan | 58.7 | 2023 | +0.48% | +0.4% | View data |
| 7 | 7 Zambia | 58.51 | 2023 | +0.17% | +0.027% | View data |
| 8 | 8 Namibia | 53.54 | 2023 | +0.68% | +0.36% | View data |
| 9 | 9 Mongolia | 51.83 | 2023 | +0.33% | +0.51% | View data |
| 10 | 10 Liberia | 51.34 | 2023 | +4.14% | +3.43% | View data |