In 2023, the UK's import of precious metal compounds (excluding gold, silver, and amalgam) stood at 32.5 million US dollars. Forecasts indicate a steady decline in imports from 30.9 million US dollars in 2024 to 24.658 million US dollars in 2028, reflecting a downward trend. Year-on-year percentage decreases are anticipated, leading to a compound annual growth rate (CAGR) of approximately -5.1% over the five-year period.
Future trends to watch for include:
- Potential market shifts due to technological advancements in recycling and substitution of precious metals.
- Economic factors impacting exchange rates and international trade policies.
- Environmental regulations that could influence import volumes and sourcing strategies.
