The forecast for ferrosilicon consumption in the US indicates a declining trend from 106.58 thousand metric tons in 2024 to 39.69 thousand metric tons by 2028. This represents a significant downward trajectory with a notable yearly decrease, reflecting a shift in market dynamics. As of 2023, the actual consumption was recorded at slightly above the forecast for 2024, highlighting the abrupt anticipated changes.
Key variations include:
- Year-on-year changes signal a steady decrease with an approximate 15-20% reduction annually.
- The compound annual growth rate (CAGR) over the five-year forecast period suggests a decline averaging around 20% per annum.
Future trends to watch for include potential shifts in metallurgical applications, advancements in steel production efficiencies, and technological innovations that may impact ferrosilicon demand. Regulatory and environmental policies could also influence consumption patterns significantly.
