The production value of basic iron, steel, and ferro-alloys in Spain has seen fluctuations over the past decade. In 2013, the sector stood at approximately €11.95 billion and experienced slight growth in 2014 to €12.02 billion. However, the subsequent years up to 2016 saw a decline, bottoming at €9.76 billion. A significant recovery occurred in 2017 and 2018, peaking at €13.56 billion. From 2019 onwards, the trend reversed, and by 2023, the value had dropped to €8.77 billion. Year-over-year variation highlights the volatility, with large dips and occasional upticks.
- 2022 to 2023: +0.58% growth
- Average annual decline (CAGR) over the past five years: -8.34%
- Forecasted 5-year CAGR (2023-2028): -3.85%
- Projected production value for 2028: €6.89 billion, indicating a continuation of the declining trend.
Future trends to watch for:- Potential market stabilization or recovery driven by technological advancements or increased demand.- Impact of global trade dynamics and regulatory changes on the industry.- Efforts towards sustainability and green production methods could attract investments and stimulate growth.
