The market has shown significant fluctuations from 2012 to 2022. It reached its peak in 2012 at 6.2446 Million Kilograms and saw its lowest point in 2020 with 3.9728 Million Kilograms. A year-on-year analysis illustrates sharp declines in 2014 (-19.74%) and 2020 (-22.75%), while years like 2019 (15.71%) and 2021 (12.13%) saw substantial increases. The 5-year CAGR ending in 2022 is slightly positive at 1.51%, indicating modest market recovery.
Looking ahead, technological advancements and environmental regulations are likely to drive growth. Increasing demand from construction and automotive sectors, along with innovations in recycling and sustainable production, could positively influence the market size.
