In 2023, the consumption of pig iron at iron foundries and miscellaneous users with electric furnaces in the US was estimated at just below 2.64 million metric tons. From 2024 to 2028, consumption is forecasted to grow steadily from 2.64 to 2.87 million metric tons. This indicates a consistent year-on-year growth between 1.89% and 2.16%. Over five years, the compound annual growth rate (CAGR) is approximately 1.98%.
Future trends to watch include technological advances in electric furnace efficiency, potential regulatory changes affecting iron production, and economic factors influencing industrial demand. Monitoring these could offer insights into more specific consumption patterns and growth trajectories.
