In 2023, Sweden continues to dominate the European precious metals domestic material consumption with a share of 55.85 thousand metric tons, despite seeing a minor year-on-year decline of 0.41%. Poland is the second-largest consumer with 27.33 thousand metric tons, showcasing a notable year-on-year increase of 1.04%. In contrast, Belgium showed a significant decline of 8.31%, bringing its share down to 0.64 thousand metric tons. Minimal or no changes were observed in other countries, including Germany, Portugal, Cyprus, and several smaller countries whose consumption is negligible or negative, such as Iceland and Slovenia.
Future trends to watch in the European precious metals market include the expected stability in Sweden's consumption, potential growth in Poland driven by increased industrial activity, and diversification in Romania and Slovakia as they may seek to increase their shares. The decline trend in Belgium could continue unless significant economic or industrial policy changes are implemented.
Top countries in Precious Metals Domestic Material Consumption Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Sweden | 55.85 | 2023 | +1.48% | -0.41% | View data |
| 2 | 2 Poland | 27.33 | 2023 | +1.28% | +1.04% | View data |
| 3 | 3 Romania | 8.77 | 2023 | +11.09% | -1.89% | View data |
| 4 | 4 Portugal | 7.85 | 2023 | +16.14% | View data | |
| 5 | 5 Germany | 0.72 | 2023 | +3.66% | View data | |
| 6 | 6 Cyprus | 0.71 | 2023 | +10.55% | View data | |
| 7 | 7 Belgium | 0.64 | 2023 | +6.74% | -8.31% | View data |
| 8 | 8 Greece | 0.31 | 2023 | -5.78% | -0.23% | View data |
| 9 | 9 Slovakia | 0.31 | 2023 | +0.51% | +5.67% | View data |
| 10 | 10 Italy | 0.017 | 2023 | +6.06% | View data |
