The production of secondary refined copper in Canada has shown notable fluctuations over the past decade. In 2023, the volume of production stood at 27.01 thousand metric tons. Historically, the production saw a peak in 2014 with a year-on-year increase of 8.33% and a significant decline in 2015 by 10.46%. The latter half of the decade experienced a general downturn, with the last two years showing a steady decline of around 1.94% year-on-year, averaging an annual decrease of 2.08% CAGR over the past five years. The forecasted data suggests this declining trend is set to continue, with a projected CAGR of -1.72% through to 2028, leading to an overall decrease of 8.32% over the five-year forecast period.
Future trends to watch for include:
- The impact of technological advancements in recycling processes, which could improve yield and efficiency.
- Potential changes in environmental regulations that might affect supply chain operations.
- Market demands for copper in green technologies like electric vehicles and renewable energy infrastructure, which may influence production levels and strategies.
