In 2023, US pig iron consumption by steel casting manufacturers was approximately 81.50 thousand metric tons. Forecasted data indicates a steady increase in consumption, with 82.54 thousand metric tons in 2024 to 87.25 thousand metric tons by 2028. This represents an average annual growth rate (CAGR) of 1.37% over the five-year period. The year-on-year increase from 2024 to 2025 is 1.46%, from 2025 to 2026 is 1.42%, from 2026 to 2027 is 1.38%, and from 2027 to 2028 is 1.32%.
Future trends to watch for:
- Technological advancements in steel production could impact pig iron demand.
- Global economic conditions influencing the steel industry.
- Changes in environmental regulations affecting production processes.
