The production volumes of iron and steel in Mexico have shown a general upward trend, with significant fluctuations observed over the past decade. The Compound Annual Growth Rate (CAGR) over the last five years indicates a modest growth of 1.52%, with a slight increase in year-on-year growth observed in 2023 (1.15%). The forecast for the next five years predicts a CAGR of 0.91%, suggesting a gradual growth in production volumes, with an expected total growth rate of 4.65% by 2028. This gradual growth reflects ongoing recovery and stabilization in the sector after the volatility experienced, particularly in 2020.
Future trends to watch include technological advancements in steel production, shifts in global demand, and the impact of environmental regulations on production methods. These factors are likely to influence the pace and direction of growth in Mexico’s iron and steel production volumes.
