Turkey's ferroalloy production has shown a continuous decline since 2013, reflecting a persistent downward trend. In 2013, production stood at 37.0 thousand metric tons. The subsequent years witnessed a year-on-year decrease, punctuated by a substantial 24.26% drop in 2020. A minor recovery occurred in 2021 with a 9.16% increase; however, the decline resumed with an 11.09% reduction by 2023, leaving production at 16.43 thousand metric tons. The CAGR over the last five years is -9.53%.
Looking forward, projections indicate an accelerating decline with a forecasted five-year CAGR of -16.59% and an anticipated 59.62% decrease from 2023 to 2028.
Future trends to watch for include potential market adjustments driven by changes in global demand, advancements in production technology, and economic reforms within Turkey aimed at revitalizing its industrial sectors.
