The consumption of silicomanganese in manufacturing, measured in thousand metric tons, has shown significant fluctuations from 2013 to 2023. Starting from a peak in 2013, consumption dropped dramatically by 68.18% in 2014. This was followed by a partial recovery in 2015 and subsequent steady declines each year thereafter. As of 2023, consumption was 91.69 thousand metric tons, marking a 6.97% decrease from the previous year. The Compound Annual Growth Rate (CAGR) over the past five years leading to 2023 was -6.38%. Going forward, a further decline is forecasted, with a projected 5-year CAGR of -7.88%, leading to an expected value of 55.81 thousand metric tons by 2028.
Future trends to watch for include:
- Potential technological advances that might alter the manufacturing demand for silicomanganese.
- Market disruptions due to environmental regulations impacting manganese mining and processing.
- Shifts in global manufacturing patterns and supply chains which could affect the US market.
