Forecast: Iron and Steel Sector Final Consumption of Heat in Finland

The iron and steel sector's final consumption of heat in Finland has seen significant variations from 2013 to 2023, peaking at 3.91 thousand terajoules in 2023. Initial years showed high volatility, with a notable spike in 2014 and steady increases until 2016. Post-2016, there was a gradual decline, bottoming out in 2020. A recovery phase followed, leading to a 2.78% increase in 2023 from the previous year. The CAGR over the last five years is calculated at 1.41%. Forecasts indicate moderate growth, with an average forecasted CAGR of 1.96% up to 2028 and an overall growth rate of 10.18% over the forecasted period.

Future trends to watch for include advancements in energy efficiency within the steel industry, potential impacts of environmental regulations, and technological innovations that could further influence the sector’s heat consumption patterns.