The iron ore mining sector in Spain has shown fluctuation in production values from 2014 to 2023. According to available data, the sector saw a notable increase in 2019 but then experienced a dip in 2020 before rebounding strongly in subsequent years. By 2023, production reached 13.6 million euros, with a 16.24% year-on-year increase from 2022. Over the last five years leading up to 2023, the sector exhibited a robust CAGR of 14.87%, reflecting strong growth momentum.
Looking ahead, forecasted data from 2024 to 2028 suggests a more moderate but steady annual growth rate with a five-year CAGR of 2.74%. Future trends to watch for include:
- Technological advancements and their effect on production efficiency.
- Global market demands and their influence on local production.
- Regulatory changes and environmental policies impacting the mining sector.
- Economic conditions influencing investment in the iron ore industry.