The ferroalloys production in Saudi Arabia has shown a steady upward trend from 2013 to 2023, standing at 214.8 Thousand Metric Tons in 2023. Following a dip in 2020, production picked up significantly in 2021 and continued to grow modestly with a year-on-year variation of 0.84% in 2023. The compound annual growth rate (CAGR) over the last five years indicates a moderate growth of 0.89% annually.
Future trends to watch for include:
- A projected 5-year CAGR of 0.67% from 2024 to 2028.
- An overall growth rate of 3.41% over this period.
- Technological advancements and investment in infrastructure which could potentially accelerate production rates.
- Market demand and geopolitical factors that may impact raw material availability and production costs.