The US primary precious metals and precious metal alloys market has seen a significant decline from 2013 through 2023. Sales value dropped steeply from $3.3511 billion in 2013 to $0.84719 billion in 2023, reflecting a marked decrease. The year-on-year variations highlight this downward trend, with the most notable declines seen in 2015 (-37.52%) and 2020 (-25.63%). Additionally, there was a temporary reprieve in 2021 with a 12.11% increase, but the overall trend resumed downward shortly thereafter. By the end of 2023, the 5-year compound annual growth rate (CAGR) was -11.63%.

Looking ahead, the forecasted data indicates a steep decline, with a projected 5-year CAGR of -29.27%, bringing the market down to $0.12365 billion by 2028. This 82.3% decrease in sales suggests an accelerating contraction of the market.

Future trends to watch for include:

Potential innovations in recycling or substitution materials that may impact market demand.
Economic factors, including inflation and currency valuation, affecting metal prices.
Global market dynamics and trade policies which could influence the US market directly.