Iron and steel scrap consumption in Delaware, Maryland, Virginia, and West Virginia is projected to decline from 2024 to 2028. In 2023, the consumption level stood at 1.2 million metric tons. Starting at 1.14 million metric tons in 2024, the forecast indicates a steady decrease to 0.655 million metric tons in 2028. This represents a year-on-year decline of approximately 11.4% in 2025, 11.9% in 2026, 13.2% in 2027, and 15.2% in 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is projected at -11.6%.
Future trends to watch for include technological advancements in recycling processes, changes in regional manufacturing demands, and policies promoting sustainability and circular economy practices, which could affect scrap consumption patterns. Monitoring these factors will be crucial in accurately forecasting and adapting to evolving market needs.
