As of 2023, the ferromolybdenum consumption in the US stood at 4.88 thousand metric tons. The forecast predicts a steady increase in consumption, rising to 4.89 thousand metric tons in 2024, and further to 4.95 thousand metric tons by 2028. From 2024 to 2028, the year-on-year growth is relatively mild, with an average increase of approximately 0.25% annually. The compound annual growth rate (CAGR) for this period is approximately 0.35%.
Future trends to watch for include potential shifts in demand due to technological advances in steel production, evolving global trading patterns, and policies promoting sustainable and efficient industrial processes, all of which could influence consumption rates.
