The consumption of silicomanganese in unspecified steel manufacturing in the US is forecasted to grow steadily from 2024 to 2028, with an increase from 9.49 thousand metric tons in 2024 to 10.86 thousand metric tons in 2028. Compared to the actual consumption in 2023, which was 9.14 thousand metric tons, this represents a steady year-over-year growth of around 3.7% to 3.1%. The CAGR for the period 2024-2028 is expected to be approximately 3.4%.
Future trends to watch for include:
- Advancements in steel manufacturing technology, potentially leading to shifts in silicomanganese requirements.
- Changes in environmental regulations that may impact production processes and material choices.
- Fluctuations in the global steel demand influencing domestic consumption patterns.
