The import of waste or scrap of precious metals, excluding pure gold and platinum, into the US is forecasted to decrease steadily from 2024 to 2028, starting at 6.3581 million kilograms and declining to 6.0926 million kilograms. This trend suggests a gradual reduction in import volume, indicative of either a shift in market demand or increased recycling efficiencies. As of 2023, actual figures leading up to these forecasts exhibited a similar downward trajectory, reinforcing the trend of decreasing dependency on external scrap resources. Year-on-year variations suggest a consistent reduction, predicting an overall shrinkage at a modest compound annual growth rate.
Future trends to watch for include:
- Technological advancements in domestic recycling efforts, potentially reducing import needs.
- Shifts in global and domestic regulations surrounding waste management and precious metal recovery practices.
- Fluctuations in market demand for precious metals driven by emerging industries such as technology and renewable energy sectors.