The ferrosilicon and silicon production in Spain demonstrated moderate fluctuations over the past decade. Between 2013 and 2019, production exhibited marginal increases each year, hovering around 110.0 to 112.8 thousand metric tons. However, a notable decline occurred in 2020, with production dropping by 16.49%. The industry rebounded robustly in 2021 with a 21.21% increase. Post-2020, production has shown steady, gradual growth with a forecasted continuing trend. In 2023, the production stood at 115.51 thousand metric tons, marking a 0.57% year-on-year increase.
Looking to the future, the production is projected to grow at an average rate of 0.46% annually over the next five years. By 2028, the volume is expected to reach 118.95 thousand metric tons, showcasing overall growth of 2.34% from 2023. Analysts should keep an eye on factors like technological advancements in production methods, market demand fluctuations, and potential impacts of environmental regulations that could influence the market dynamics.
