Forecast: Metals Consumption in Thailand

The consumption of metals in Thailand exhibited considerable fluctuation over the years, highlighted by periods of significant increase and notable declines. Since peaking in 2016, consumption experienced a marked decrease, with a steady downward trend from 2017 to 2023. In 2023, it stood at 1.52 units. The year-on-year variations show high volatility, particularly with sharp declines in recent years. The Compound Annual Growth Rate (CAGR) over the last five years shows a negative trend at -3.54%.

The forecast suggests a continuing decline, with an expected further decrease to 1.25 units by 2028. The forecasted 5-year CAGR is -3.06%, indicating a sustained downward trajectory. The anticipated overall reduction from 2023 to 2028 is approximately 14.38%.

Future trends to watch for:

• Potential impact of new technological advancements on the metals industry.
• Government policies and economic measures affecting material consumption.
• Shifts in global demand and supply chains.
• Sustainability and recycling initiatives influencing domestic material consumption patterns.