The production value of basic iron, steel, and ferro-alloys in Belgium experienced considerable fluctuations between 2013 and 2023. The year-on-year growth rates varied significantly, with notable peaks in 2017 and 2022, and notable declines in 2019 and 2020. As of 2023, the production value stood at €9.38 billion, reflecting a cautious recovery from the dip in 2020. The five-year CAGR from 2018 to 2023 was slightly negative, indicating marginal overall contraction during this period.
Looking ahead, the forecasted data suggests a modest but steady growth trend, with the production value expected to reach €9.44 billion by 2028. The forecasted five-year CAGR is minimal, indicating stable but slow growth in the industry.
Future trends to watch for include:
- Technological advancements in steel production.
- Shifts in demand due to evolving industries and global economic conditions.
- Impact of environmental regulations on production processes.
