In 2023, Belgium's structural metal products production value stood at 5.51 Billion Euros. From 2013 to 2023, the production value showcased a trend of fluctuations, peaking in 2016 and experiencing a significant dip in 2018. A notable recovery was seen in 2019, followed by another dip in 2020. The last two years exhibited a positive trend with a year-on-year growth of 4.35% in 2023. The CAGR over the past five years (2019-2023) was 3.71%.
Looking towards the future, the forecasted data from 2024 to 2028 indicates a consistent upward trend, with an average annual growth rate of 1.41% and a total growth rate of 7.26%. By 2028, the production value is expected to reach 6.02 Billion Euros.
Future trends to watch for include:
- Technological advancements in production processes
- Impact of global supply chain dynamics
- Shift towards sustainable and eco-friendly metal products
- Potential regulatory changes within the EU