The Spain steel market size reached USD 15,679.66 Million in 2024. Looking forward, the market is expected to reach USD 20,818.72 Million by 2033, exhibiting a growth rate (CAGR) of 3.20% during 2025-2033. The market is propelled by increasing infrastructure building, proliferating vehicle production, and rising industrial applications like construction and manufacturing demanding premium steel. Technological advancements and a shift toward greener methods are also driving market growth, leading to higher Spain steel market share.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 15,679.66 Million |
Market Forecast in 2033 | USD 20,818.72 Million |
Market Growth Rate 2025-2033 | 3.20% |
Technological Advancements in Steel Production
The Spanish steel sector is undergoing a transformation due to technological advancements in steel production. With their increased efficiency and reduced environmental impact, advanced production methods like direct reduction iron (DRI) and electric arc furnaces (EAF) are becoming increasingly popular. These technologies have the potential to increase industry competitiveness by producing high-quality steel at lower costs. The efficiency and safety of steel mill manufacturing are also being increased by automation and AI-based technologies, which is propelling the industry forward. Spain's overall share of the steel market has increased as a result of the shift to digitalization in steel manufacturing, which allows for better resource management, less waste, and increased quality control. For instance, ArcelorMittal plans a €1 Billion investment in Spain’s Gijón plant, aiming to cut CO2 emissions by 4.8 million tonnes over five years. This initiative includes a 2.3 million-tonne green hydrogen DRI unit and a 1.1 million-tonne hybrid EAF, with production beginning by 2025. The project will contribute to the Spain steel market growth by making the Sestao plant the world’s first full-scale zero-carbon emissions steel facility.
Steel Demand in the Automotive Industry
The demand for steel is mostly driven by Spain's automotive sector, especially as automakers are using lighter, higher-strength steel to satisfy safety and fuel efficiency regulations. The capacity of steel to reduce vehicle weight without sacrificing strength and durability is essential to the production of both conventional combustion engine-based cars and electric vehicles (EVs). Spanish steel producers are seeing an increase in demand for next-generation steel products that will improve safety and fuel economy, while Spanish automakers are working hard to meet strict environmental criteria. This is driving the expansion of the Spanish steel market, especially for automotive-grade steel products that are sustainable and perform well. For instance, in April 2025, Spain approved a €60 Million EU grant for the construction of a hydrogen-powered steel plant in Puerto Llanos, Castilla-La Mancha. The plant aims to produce up to 1.5 million tons of rolled steel, which is commonly used in the automotive industry, annually using green hydrogen. With future plans to expand to 2.6 million tons, the plant will create 1,000 jobs and is set to begin construction by 2025. This project is part of Spain's decarbonization efforts and is supported by the €750 Billion EU Next Generation fund.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, product, and application.
Type Insights:
The report has provided a detailed breakup and analysis of the market based on the type. This includes flat steel and long steel.
Product Insights:
A detailed breakup and analysis of the market based on the product have also been provided in the report. This includes structural steel, prestressing steel, bright steel, welding wire and rod, iron steel wire, ropes, and braids.
Application Insights:
The report has provided a detailed breakup and analysis of the market based on the application. This includes building and construction, electrical appliances, metal products, automotive, transportation, mechanical equipment, and domestic appliances.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include Northern, Eastern, Southern, and Central Spain.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Types Covered | Flat Steel, Long Steel |
Products Covered | Structural Steel, Prestressing Steel, Bright Steel, Welding Wire and Rod, Iron Steel Wire, Ropes, Braids |
Applications Covered | Building and Construction, Electrical Appliances, Metal Products, Automotive, Transportation, Mechanical Equipment, Domestic Appliances |
Regions Covered | Northern Spain, Eastern Spain, Southern Spain, Central Spain |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: