The Basic Iron, Steel, and Ferro-Alloys turnover in Finland saw significant fluctuations over the past decade, standing at €5.64 billion in 2023. From 2013 to 2023, the industry experienced periods of substantial growth and contraction, peaking in 2015, followed by a notable decline in subsequent years. Between 2020 and 2023, turnover stabilized with minor year-on-year increases, reflecting a maturing market.
Year-on-year variations over the last two years were:
- 2022: 0.34%
- 2023: 0.33%
The 5-year compound annual growth rate (CAGR) from 2018 to 2023 was 0.22%, indicating a sluggish recovery after previous declines. Forecast data from 2024 to 2028 predicts minimal growth, with a forecasted 5-year CAGR of 0.24%, suggesting continued market stability but limited expansion.
Future trends to watch for include advancements in sustainable steel production, potential market consolidation, and impacts from global economic shifts and trade policies, which may influence the industry's growth trajectory.