The forecast for pig iron consumption in Indiana's manufacturing sector predicts a steady decline from 6.83 million metric tons in 2024 to 5.69 million metric tons in 2028. With the consumption being 6.83 in 2024 the initial forecast year, it was slightly higher in 2023. The year-on-year change from 2024 to 2028 signifies a decreasing trend, indicating challenges in maintaining growth. Over the forecast period, the compound annual growth rate suggests a moderate decline.

Future trends to watch for include:

Potential shifts in raw materials due to advancements in alternative materials or technologies.
Economic conditions impacting production rates and consumer demand in related industries.
Environmental regulations affecting the industry.