The stone, sand, and clay quarrying industry in Finland showed varied trends from 2013 to 2023. The sector reached a production value of 384.1 million euros in 2023, witnessing a year-on-year decrease of 0.36% in comparison to 2022. The compound annual growth rate (CAGR) over the last five years was a modest 0.29%.
Over the longer period, from 2013 to 2023, the sector experienced significant fluctuations, including sharp declines in the early part of the period and moderate growth in the latter years. Particularly, the industry saw a rapid contraction from 2013 to 2015, followed by a recovery phase post-2017, leading up to relatively stable production values by 2023.
Looking ahead, the forecasted data suggests a slow but steady decline, with an anticipated forecasted 5-year CAGR of -0.15% from 2024 to 2028. The industry is projected to reach a production value of 380.2 million euros by 2028.
Future trends to watch for include the impact of regulatory changes on quarrying operations, advancements in extraction technologies, and sustainable practices within the industry. Monitoring these elements will be crucial for understanding the direction of the Finnish quarrying sector.
