The value-added of non-ferrous metals in Mexico saw fluctuations from 2013 to 2023, with a substantial dip in 2020, likely due to external economic shocks. Recovery and growth resumed steadfastly post-2020, culminating in a value of 111.26 billion Mexican Pesos in 2023. The CAGR over the last five years stood at 2.79%, reflecting steady growth despite the substantial 2020 disruption. The more recent years saw a positive trajectory with year-on-year variations of 23.9% in 2021, 2.71% in 2022, and 2.58% in 2023. The forecast suggests continuous growth, projecting the value to reach 125.89 billion Mexican Pesos by 2028, with a forecasted 5-year CAGR of 1.94%.
Future trends to watch for:
- Technological advancements in non-ferrous metals processing.
- Demand changes due to shifts in related industries like automotive and construction.
- Economic policies impacting trade and production costs.
- Environmental regulations influencing industry practices and efficiencies.
