As the climate warms during the 21st century, our model shows extra melting at the top and the base of the Arctic sea ice. The reducing ice cover affects the impact these processes have on the sea ice volume budget, where the largest individual change is a reduction in the amount of growth at the base of existing ice. Using different forcing scenarios we show that, for this model, changes in the volume budget depend on the evolving ice area but not on the speed at which the ice area declines.