As of 2023, the actual consumption of low-phosphorus plate and punchings at US steel castings manufacturers stood at 888.00 thousand metric tons. Forecasted data from 2024 to 2028 show a consistent increase from 904.59 to 969.17 thousand metric tons. This reflects a steady year-on-year growth from 2024 onwards, with an average annual growth rate (CAGR) of around 1.75% over these five years.

Future trends to watch for include:

Increased demand for low-phosphorus materials driven by stricter environmental regulations.
Technological advancements in steel recycling and casting techniques.
Potential market impacts from geopolitical factors affecting raw material supply chains.