In Pennsylvania, the forecast for iron and steel scrap consumption from 2024 to 2028 shows a gradual decline. In 2023, consumption stood at an estimated 4.05 million metric tons. Projections indicate a decrease from 3.92 million metric tons in 2024 to 3.54 million metric tons in 2028.
On a year-on-year basis, consumption is expected to decrease by approximately 2.6% on average over these years, with a compound annual growth rate (CAGR) of around -2.7% over the five-year period.
Future trends to watch for include potential impacts of technological advancements in recycling methods, changes in industrial demand, and regulatory shifts regarding scrap steel utilization that may reverse or exacerbate current declining trends.
