Between 2015 and 2019, the consumption of cut structural and plate of purchased and home scrap by manufacturers of steel castings in the US declined significantly, from 36.36 thousand metric tons to 13.13 thousand metric tons. This represents a compound annual growth rate (CAGR) of -24.13%, indicating a significant reduction year-on-year in the volume consumed by manufacturers.
For 2023, current estimates place consumption levels consistent with the trajectory seen over recent years, likely reflecting continued optimization and efficiency in resource utilization by the industry.
Future trends to watch for include shifts in demand driven by technological advancements, recycling practices, and regulatory changes. The industry's move towards sustainable practices and innovations in steel production could influence scrap consumption patterns, presenting opportunities for further efficiency gains and resource management.
