As of 2024, the forecast for No. 1 Busheling consumption in the US for manufacturers of pig iron and raw steel and castings begins at 5.07 million metric tons, with gradual increments anticipated through 2028, reaching 5.09 million metric tons. In 2023, the actual consumption stood at approximately 5.06 million metric tons. Year-on-year growth remains steady around 0.2%, reflecting stable demand and consumption patterns in the industry. The compound annual growth rate (CAGR) for this period is minimal, indicating a mature market.

Future trends to watch for include:

The impact of technological innovations on scrap metal processing and usage efficiency.
Potential regulatory changes that could affect scrap metal sourcing and consumption.
Evolving global steel demand and its influence on domestic busheling requirements.