From 2013 to 2023, Spain's Basic Iron, Steel and Ferro-Alloys market saw fluctuating turnovers, peaking in 2018 at 13.25 billion Euros and declining to 8.39 billion Euros by 2023. Notable annual variations include a steep -23.3% drop in 2020 and a moderate 2.97% rise in 2022. The Compound Annual Growth Rate (CAGR) over the last 5 years averages -8.73%.
Future projections (2024-2028) indicate a continued decline with a forecasted 5-year CAGR of -4.43%, leading to a projected turnover of 6.36 billion Euros by 2028, a 20.26% decrease from 2023.
Trends to watch for:
- Impact of technological advancements on production efficiency.
- Global market dynamics and trade policies affecting demand and supply.
- Shift towards sustainable practices and its influence on the sector.
