The consumption of manganese metal in cast iron manufacturing in the US has shown a steady increase from 2014 to 2023, reaching 13.85 thousand metric tons in 2023. The year-on-year variation noted significant growth with fluctuations, particularly prominent in 2015 with a decline of 10.41%, while subsequent years saw consistent growth, peaking at 11.13% in 2021. The CAGR, representing average annual growth, stood at 5.62% over the past five years.
For the future, the forecast up to 2028 indicates a continued increase in manganese consumption, with a projected value of 16.85 thousand metric tons. The forecasted five-year CAGR is 3.11%, and the total growth rate over these five years is expected to be 16.53%.
Future trends to watch:
- Technological advancements that improve the efficiency of manganese use in cast iron production.
- Potential supply chain disruptions impacting the availability and price of manganese.
- Environmental regulations influencing the demand for cleaner and more sustainable manufacturing processes.
