The final consumption of solid fossil fuels in Italy's iron and steel sector is predicted to decline significantly from 2024 to 2028, with values projected to fall from 420.93 thousand metric tons to 241.85 thousand metric tons. This represents a notable downward trajectory in consumption, with a year-on-year decline averaging around 10.3% during the forecast period. From 2023, where consumption stood higher, this continuous reduction highlights a pivotal shift in the sector's energy use strategy.
The average compound annual growth rate (CAGR) over the forecasting period shows a decrease of approximately 12.5% per year. This illustrates the sector's accelerating move away from reliance on solid fossil fuels.
Future trends to watch for include:
- Ongoing pressure to reduce carbon emissions, pushing for greater adoption of cleaner technologies.
- Potential regulatory changes that may further drive industry shifts towards alternative energy sources.
- Increased investment in green steel production, leveraging innovations like hydrogen-based processes.
