The consumption of ferromanganese in carbon steel manufacturing in the US stood at 256.74 thousand metric tons in 2023, exhibiting a growth trend despite some fluctuations. The year-on-year variations indicate a decline of 7.28% in 2013, followed by minor fluctuations with a notable 6.2% increase in 2021. Recent data show a consistent growth rate, with a 0.84% increase in 2023. Over the last five years, the CAGR is 0.89%, suggesting steady growth.
Forecasted data from 2024 to 2028 project further growth, with a CAGR of 0.67% and an overall growth rate of 3.39% over this period. This indicates a stable upward trend, reflecting positive market conditions for ferromanganese consumption in carbon steel manufacturing.
Future trends to watch for include potential impacts of technological advancements in steel manufacturing, fluctuations in raw material availability, and changes in trade policies. Monitoring these factors will be crucial for anticipating shifts in consumption patterns.
