Based on the data, Spain's aluminum production has shown significant fluctuations over the past decade. The highest production level was reached in the period from 2014 to 2018, maintaining a stable value of 350 thousand metric tons. Post-2018, a noticeable decline begins, with 2023 figures indicating a year-on-year decrease of 2.72%, standing at 244.95 thousand metric tons. The compound annual growth rate (CAGR) over the last 5 years reveals a negative average variation per year of -6.89%.
From 2024 onwards, production is forecasted to continue this downward trend, with the 5-year CAGR estimated at -2.24%, mirroring a anticipated overall decrease of 10.72% by 2028. This implies a persistent weakening in Spain's aluminum production outlook.
Future trends to watch for include:
- Renewable energy policies potentially impacting production costs and industry practices.
- Technological advancements in aluminum recycling and production efficiencies.
- Market demand fluctuations driven by global economic conditions and industrial needs.
