Forecast: Metals Consumption in Australia

The domestic material consumption of metals in Australia stood at 42.39 in 2023. In 2024, it is forecasted to be 42.84, reflecting a 1.06% increase compared to the previous year. For 2025, a 1.35% increase is projected to 43.42, followed by a 1.31% increase to 43.99 in 2026. In 2027, consumption is expected to grow by 1.27% to 44.55, and in 2028, a 1.24% increase is anticipated, reaching 45.10. Over the last two years, the year-on-year average growth has been around 1.31%. The Compound Annual Growth Rate (CAGR) over the forecast period from 2024 to 2028 is approximately 1.25%.

Future trends to watch for include technological advancements in metal recycling, potential regulatory changes focusing on sustainability, and the impact of economic growth on industrial activities. Additionally, shifts in global supply chain dynamics and raw material pricing could significantly influence domestic consumption patterns.