Alumina production in Spain has shown fluctuations over the past decade, with noticeable ups and downs. In 2020, production dipped significantly by 16.01%, marking the largest decrease within this period. However, the industry bounced back with a 21.53% increase in 2021. The production level in 2023 stood at 1.65 million metric tons, reflecting a steady trend with a year-on-year growth of 0.79%.
The compound annual growth rate (CAGR) over the last five years (2018-2023) averaged 0.81%, showcasing a moderate upward trend. Looking forward, the forecast predicts a 5-year CAGR of 0.64% and an overall growth rate of 3.25% by 2028, indicating stable but modest growth.
Future trends to watch for:
- Supply chain stability and its impact on production levels.
- Environmental regulations and their influence on production practices.
- Technological advancements in alumina production and their adoption rate.
