In 2023, the consumption of motor blocks, utilizing both purchased and home scrap, stood at approximately 518.5 thousand metric tons in the US. Forecast data predicts a decrease each year from 2024 through 2028. The year-on-year decline: 2.46% for 2025, 2.48% for 2026, 2.49% for 2027, and 2.49% for 2028, yields an average annual decrease (CAGR) of around 2.55% over the five-year period, reflecting a consistent downward trend in volume.
Future trends to watch for:
- Potential technological advancements may reduce scrap generation.
- Recycling efficiency improvements are needed to mitigate declining consumption.
- Market demand shifts in automotive and industrial sectors impact scrap usage.
- Regulatory changes towards sustainability may influence future scrap consumption.