The value added of non-ferrous metals in the US peaked at $43.47 billion in 2023. From 2013 to 2023, the industry has experienced fluctuations with significant year-on-year and compound annual growth rate (CAGR) variations. Notably, the sector witnessed notable dips in 2016 and 2020 but showed resilience with strong rebounds in subsequent years. Over the last two years, there was a moderate growth rate, reflecting the industry's recovery stability at 0.87% to 0.9% year-on-year. The five-year CAGR from 2018 to 2023 stood at 2.33%, showcasing a modest upward trend despite yearly variances.
The forecast for the next five years indicates a continued positive trajectory, albeit at a slower growth pace, with a forecasted five-year CAGR of 0.69% and an overall growth rate of 3.52% by 2028. Factors such as technological advancements, environmental regulations, and global market dynamics will play pivotal roles in shaping future trends for the non-ferrous metals industry. Stakeholders should watch for innovations in recycling technologies and shifts in demand driven by industries like electronics and electric vehicles.
