The value added of non-ferrous metals in Belgium saw fluctuations over the past decade, starting from 962.5 million Euros in 2013 and experiencing significant changes, reaching 1040 million Euros in 2023. The year-on-year variations reveal notable dips in 2014 (-6.3%), 2016 (-8.89%), and 2020 (-15.95%) due to economic pressures and market conditions. However, recovery periods in 2018, 2021, and even slight growth in 2022 and 2023 showcase resilience.
From a longer-term perspective, the compound annual growth rate (CAGR) presents an overall stability with ups and downs. Significant recovery can be noticed post-2016 dip, achieving the highest values in recent years.
The forecast data from 2024 to 2028 suggests a steady growth trend, with a forecasted CAGR of 0.62% and an overall growth rate of 3.15% expected within the next five years, indicative of moderate but persistent expansion.
Future Trends to Watch For:
- Technological advancements in metal processing could boost efficiency.
- Environmental regulations may impact production practices and costs.
- Global economic conditions and trade policies will continue influencing market dynamics.
- Emerging markets and increased demand for non-ferrous metals in renewable energy technologies may drive future growth.
