In 2023, silicon metal consumption in US steel production stood at 2.00 thousand metric tons. From 2024 to 2028, forecasts suggest a consistent rise in silicon metal use, with annual consumption increasing from 2.04 to 2.19 thousand metric tons. This represents a compounded annual growth rate (CAGR) of approximately 1.8% over five years.
- From 2024 to 2025, there is a year-on-year percentage increase of 1.96%.
- From 2025 to 2026, another increase of 1.92% is expected.
- Continued year-on-year hikes of 1.89% for 2026 to 2027.
- For 2027 to 2028, a smaller increase of 1.39% is anticipated.
Future trends to monitor include technological advancements in steel production that might further boost silicon metal demand, fluctuations in the steel industry driven by economic conditions, and potential shifts toward alternative materials that could impact silicon's role. Additionally, policy changes regarding sustainability and resource allocation may alter the forecasted trajectory.
