The historical data shows that consumption of ferromanganese in the US steel manufacturing industry has experienced fluctuations over the past decade. Noteworthy trends include a significant drop between 2013 and 2014, followed by a steady increase from 2015 onward, with a minor dip in 2020 likely due to the pandemic. By 2023, consumption had risen to 417.99 thousand metric tons. The average annual growth rate over the last five years was 1.66%, indicating a moderate but steady growth trend. The future forecast shows continued growth at a CAGR of 1.2%, projecting consumption to reach 451.06 thousand metric tons by 2028, with an overall growth rate of 6.15% over the next five years.
Future trends to watch for include potential impacts of technological advancements in steel production, shifts in domestic and international steel demand, and policy changes relating to environmental regulations which could influence ferromanganese usage.
