The production of silicomanganese in Mexico has exhibited variability over the past decade. In 2023, production stood at 203.83 thousand metric tons. The period from 2013 to 2019 showed a consistent year-on-year increase, ranging from 2.37% to 3.06%, except for a significant dip in 2020, influenced by the global economic downturn. The year 2021 saw a strong recovery with a 23.1% increase. From 2021 onwards, the annual growth rates normalized, with a consistent rise approximately around 2% year-on-year.
Looking forward into the forecasted years from 2024 to 2028, the average annual growth rate (CAGR) is anticipated to be 1.54%, indicating a steady but modest growth trajectory. By 2028, the production is expected to reach 224.71 thousand metric tons, showcasing an overall growth of about 7.92% over the five-year forecast period.
Future trends to watch for:
- Potential impact of new technological advancements on production efficiency.
- Shifts in global demand for steel, affecting downstream silicomanganese demand.
- Regulatory changes and their implications on the mining and production industry.
- Fluctuations in raw material prices, which could impact production costs and profitability.
