The consumption of iron and steel scrap by steel casting manufacturers in California, Oregon, and Washington is projected to decline steadily from 2024 to 2028. In 2023, consumption stood at 21.7 thousand metric tons, making the projected 2024 figure of 18.56 thousand metric tons a significant decrease. The decreases account for a year-on-year variation with a reduction trend: 2024-2025, 16.79%; 2025-2026, 19.81%; 2026-2027, 24.25%; and 2027-2028, 31.24%. The compound annual growth rate (CAGR) from 2024-2028 is approximately -21.15%.
Future trends to watch for include:
- Sustainability practices driving increased recycling efficiencies, potentially slowing scrap consumption decline.
- Steel demand fluctuations tied to infrastructure projects or economic policies in the Pacific Northwest.
- Technological advancements in steel production possibly affecting scrap usage rates.
