Forecast: Sold Production of Steel Casting Services in Spain

In 2023, the sold production of steel casting services in Spain stood at 65.752 million kilograms. Since 2013, the market has shown considerable volatility. A significant dip occurred in 2016 with an 11.87% decrease, followed by a substantial 27.05% increase in 2021. Recent years have seen a slight decline, with a 6.26% drop in 2022 and a 3.49% decline in 2023. The CAGR from 2021 to 2023 was -0.29%, reflecting a relatively stable but declining trend.

Looking ahead, forecasts indicate further contraction, projecting the value to decrease to 54.202 million kilograms by 2028. The forecasted 5-year CAGR is -3.08%, resulting in an overall reduction of 14.5% by the end of the period.

Future trends to watch for:

• Global steel market fluctuations and their impact on demand
• Technological advancements in steel casting processes
• Environmental regulations and their effects on production
• Economic conditions within Spain and the broader European market
• Potential shifts in key industries reliant on steel casting services