The production of ten kinds of nonferrous metals in China has demonstrated a steady upward trend from 2013 to 2023, increasing from 4.41 to 6.95 million metric tons, with a year-on-year variation showcasing a similar pattern of growth. Particularly notable was the spike in production values in 2018 and 2020. However, the period from 2019 saw a more moderated growth with a slight decline in 2019 (-0.47%). Over the last two years (2022-2023), the year-on-year growth remained consistent, averaging around 3.5%-3.7%. The 5-year CAGR leading to 2023 stood at 3.36%, indicating a period of stable yet decelerating growth.
Looking forward from 2024 to 2028, forecasts suggest a continuation of this growth trend, albeit at a slower pace. The forecasted annual CAGR for the coming five years is 2.37%, reflecting a more gradual increase in production volumes. The growth rate over this period is anticipated to be around 12.42% collectively.
Future trends to watch for:
- Technological advancements in nonferrous metal extraction and processing.
- Environmental regulations and sustainability initiatives impacting production processes.
- Market demand shifts and economic conditions influencing nonferrous metal consumption.
- Potential for consolidation within the industry as companies adapt to slower growth rates.
