The production in the manufacture of basic iron and steel sector in Spain has experienced significant fluctuations over the past decade. The industry faced major downturns between 2015 and 2021, with significant year-on-year decreases, particularly in 2020. Despite a slight recovery in 2021 and 2022, the forecast indicates a continued decline, with production standing at 11.25 billion Euros in 2023. The overall 5-year CAGR projects a notable downturn of -3.4% by 2028, indicating a persistent downward trend.

Future trends to watch for:

Further technological advancements and automation within the industry.
Potential shifts towards more sustainable and environmentally friendly production processes.
Global economic factors and trade policies impacting demand and production rates.