In 2023, iron and steel scrap consumption at iron foundries and miscellaneous users in Texas was standing at an unspecified value; however, it is clearly in decline from 2024 onwards. The forecast indicates a significant downward trend in scrap consumption: from 69.67 thousand metric tons in 2024 to 45.78 thousand metric tons in 2028. This represents a year-on-year decline of approximately 8.8% from 2024 to 2025, 9.5% from 2025 to 2026, 10.3% from 2026 to 2027, and 11.2% from 2027 to 2028. The compound annual growth rate (CAGR) from 2024 to 2028 suggests an average annual decrease of roughly 10.9%.
Future trends to consider include potential shifts in demand influenced by technological advancements, increased recycling efficiency, and legislative changes promoting sustainable practices. Monitoring global economic conditions and their impact on industries reliant on metal production and recycling could further affect these forecasts.
