Analyzing Indonesia's ferromanganese production trends, we observe steady growth despite fluctuations. From 2013 to 2023, production increased from 12.0 to 22.47 thousand metric tons. 2023 stands at a notable value of 22.47 thousand metric tons, reflecting a 2.23% year-on-year increase from 2022. The Compound Annual Growth Rate (CAGR) over the past five years stands at 2.45%, indicating moderate but steady growth.
Key points:
- 2014 saw the highest year-on-year growth of 66.67%, doubling production in one year.
- 2020 experienced a significant decline of 14.89% due to potentially disruptive factors like global market downturns.
- Post-2020, the sector rebounded with a substantial 23.42% increase in 2021.
- The forecast indicates continued growth, predicting production to reach 25.03 thousand metric tons by 2028, with a forecasted 5-year CAGR of 1.7%.
Future trends to watch for:
Continual advancements in production technology and potential governmental policy changes supporting mineral extraction could drive further growth. Additionally, global demand for steel, which ferromanganese is a critical component, could impact production scales. Monitoring these factors will provide a clearer picture of the industry’s trajectory.
