The forecast for Direct-Reduced Iron (DRI) consumption by manufacturers with electric furnaces in the US shows a steady increase from 2024 through 2028. The consumption rises from 2.51 million metric tons in 2024 to an anticipated 2.7 million metric tons by 2028. The year-on-year growth is consistent at about 2% each year, reflecting a stable demand trajectory. Compared to the last available actual data from 2023, the CAGR for the forecast period demonstrates a moderate annual increase, suggesting a sustained reliance on DRI in the coming years.
Future trends to watch include advancements in electric furnace technologies and potential shifts in regulatory policies which may impact DRI consumption. Additionally, market dynamics such as raw material prices and environmental considerations may play a crucial role in shaping future demand.
