In 2023, ferromolybdenum consumption in high-strength low-alloy manufacturing in the US stood at 106 metric tons. The forecasted data from 2024 to 2028 shows a gradual decline in consumption: 2024 - 105.52 metric tons, 2025 - 104.94 metric tons, 2026 - 104.36 metric tons, 2027 - 103.8 metric tons, and 2028 - 103.25 metric tons. The year-on-year variation reveals a consistent decrease in consumption with an approximate compound annual growth rate (CAGR) of -0.52% over the five-year period, indicating a stabilizing decline in demand.
Future trends to watch for include:
- Technological advancements in alternative alloy materials that might further reduce ferromolybdenum demand.
- Potential regulatory changes impacting ferromolybdenum use in manufacturing due to environmental concerns.
- Fluctuations in global ferromolybdenum prices affecting US consumption patterns.
