Forecast: Value Added of Iron and Steel in Belgium

The Value Added of Iron and Steel in Belgium has exhibited notable fluctuations from 2013 to 2023. After a consistent rise from 1.52 billion euros in 2013 to a peak of 2.11 billion euros in 2017, the value decreased to 1.86 billion euros by 2019. The industry faced significant challenges in 2020 with a sharp decline to 1.59 billion euros, but showed a partial recovery to 1.91 billion euros in 2021, remaining stable at 1.90 billion euros in 2022 and 2023.

Year-on-Year variations from 2013 to 2023 have varied widely, with the most significant increase in 2017 at 10.5% and the steepest decline in 2020 at -14.35%. The CAGR over the last five years is -0.3%, indicating a slight long-term contraction in the industry's value.

Forecasts suggest a gradual decline in the value added, with an expected marginal annual decrease to 1.86 billion euros by 2028.

Future trends to watch:

• Global economic conditions affecting steel demand.
• Technological advancements and efficiency improvements.
• Environmental regulations and sustainable practices.
• Trade policies and tariffs impacting international competitiveness.