The copper market in the UK, expressed in volume, has seen significant fluctuations over the past decade. From 2013 to 2023, actual data show an overall declining trend with the market size decreasing from 183.92 million kilograms in 2013 to 128.86 million kilograms in 2023. Notably, the market experienced a sharp drop of 20.07% in 2020, likely due to macroeconomic factors. Although there was a slight recovery in 2021, the overall 5-year CAGR from 2018 to 2023 stands at -3.39%, reflecting a consistent downward trend.
Looking ahead, the forecasted data suggest a continued decline in the copper market volume in the UK, with predicted figures reaching 101.53 million kilograms by 2028. The forecasted CAGR for the next five years is projected at -3.78%, marking a continued reduction in market size. Future trends to watch for include technological advancements, changes in industrial demand, and potential shifts in government policies regarding raw material usage and sustainability initiatives, which may influence market dynamics and demand for copper.