Forecast: Raw Steel Production in Spain

Raw steel production in Spain for 2024 is forecasted to be 13.47 million metric tons, slightly down from its 2023 value of 13.59 million metric tons. The trend continues to show a gradual decline, with production expected to reach 12.98 million metric tons by 2028. Year-on-year variation reveals a consistent decreases of around -0.89% to -0.92% annually from 2024 through 2028. This translates to a compound annual growth rate (CAGR) of approximately -0.92% over this five-year period.

Future trends to watch for include potential impacts from technological advancements, shifts in global demand, and changes in environmental regulations. Additionally, monitoring the geopolitical landscape and its influence on raw material supply chains will be essential for anticipating future production trends.