In 2023, Indiana's iron and steel scrap consumption was approximately 3.9 million metric tons. Analyzing the forecast data from 2024 to 2028, a downward trend in consumption is evident, starting at 3.76 million metric tons in 2024 and decreasing annually to 3.27 million metric tons by 2028. This consistent decline highlights a CAGR of approximately -3.5% over these five years, signaling a gradual reduction in demand or possibly efficiency improvements in recycling and production processes.
Future trends to watch for include innovations in steel recycling technology, changes in manufacturing processes, and environmental regulations which could further influence scrap consumption patterns in Indiana and beyond.
