The domestic material consumption of metals in the UK was at 12.50 million metric tons in 2023. From 2024 to 2028, forecasted values indicate a slight year-on-year decline of about 0.4%, leading to a compound annual growth rate (CAGR) of approximately -0.4% over five years. This steady decrease suggests a gradual reduction in metal consumption, potentially influenced by enhanced recycling efforts and shifts in industrial demand.
Future trends to watch for include:
- Technological advancements promoting material efficiency.
- Regulatory impacts on metal use and environmental footprint.
- Volatility in global metal supply chains affecting availability and costs.
- Expansion in renewable energy sectors affecting metal demand.
