The production of unwrought unalloyed refined copper in Belgium stood at 75 million kilograms in 2023. Forecasted data from 2024 to 2028 indicates a steadily increasing trend. Specifically, the production values for these years are 79.39, 84.009, 88.583, 93.11, and 97.592 million kilograms respectively. This represents year-on-year percentage increases of 5.6% in 2024, 5.8% in 2025, 5.4% in 2026, 5.1% in 2027, and 4.8% in 2028. The Compound Annual Growth Rate (CAGR) over these five years is projected at approximately 4.8%.
Future trends to watch for:
- Technological advancements in copper refinement processes.
- Global economic factors affecting copper demand and supply.
- Environmental regulations impacting copper production.
- Investment in infrastructure and its influence on copper consumption.
- Developments in the renewable energy sector, specifically in the expansion of electric vehicle markets, as they could significantly increase copper demand.