The basic metals and fabricated metal products manufacturing output in France, expressed in billion euros, saw significant fluctuations over the last decade. From 2013 to 2016, there was a consistent decline, reaching a low in 2016. The market rebounded in 2017 and continued to grow until a sharp drop in 2020 due to the global pandemic. Post-2020, the sector witnessed robust recovery with significant year-on-year growth, especially notable in 2021 and 2022. By 2023, the sector stood at 110.01 billion euros, showing a moderated growth of 1.06% from the previous year.
The Compound Annual Growth Rate (CAGR) for the past five years is delineated as 4.67%, indicating a strong recovery phase. Moving forward, the forecasted data for 2024 to 2028 suggests a positive yet slowing growth with a forecasted 5-year CAGR of 0.85%, projecting the output to reach 116.05 billion euros by 2028.
Future trends to watch for in the sector include:
- Sustainable manufacturing practices due to increasing environmental regulations.
- Adoption of advanced technologies like automation and AI to enhance production efficiency.
- The potential impact of geopolitical developments on raw material supplies and trade policies.
