In 2023, the shredded or fragmentized consumption of purchased and home scrap in the US stood at 17 million metric tons. Over the forecast period from 2024 to 2028, there is a steady upward trend with an annual average growth rate (CAGR) of approximately 0.9%. Year-on-year growth rates from 2024 to 2028 are relatively consistent, ranging from 0.99% to 0.85%. Such moderate growth underscores an ongoing demand for recycled materials in various industrial sectors.

Future trends to watch for include:

Technological advancements in recycling efficiency that may impact scrap consumption.
Regulatory changes promoting sustainability and environmental responsibility.
Fluctuations in global metal prices that could affect local market dynamics.