The Iron and Steel market in Italy has shown variation over the years, experiencing both declines and growth. Significant drops were noted in 2014 and 2020, correlating with economic downturns and the impacts of COVID-19, respectively. However, the market rebounded strongly in 2021 with a 21.02% growth. In 2023, the market stood at 31.021 Billion Euros, exhibiting a minimal growth of 0.43% compared to 2022. The Compound Annual Growth Rate (CAGR) over the last five years is modest at 0.43%.
Looking ahead, forecasted data suggests a steady but slow upward trend with a 0.35% CAGR over the next five years. The market is expected to reach approximately 31.708 Billion Euros by 2028, showing a total growth of 1.74% from 2023.
Future trends to watch for include advancements in green steel production, the impact of European Union regulations on carbon emissions, and potential shifts in global trade dynamics affecting supply and demand within the Italian market.
