The forecast for turnings and borings consumption of purchased and home scrap at US steel castings manufacturers indicates a consistent upward trend from 2024 to 2028, with a steady increase from 55.47 thousand metric tons in 2024 to 58.62 thousand metric tons in 2028. This reflects an annual compound growth rate (CAGR) of approximately 1.4% over the forecast period. As of 2023, the consumption stood at 54.7 thousand metric tons.
Future trends to watch for include:
- Potential shifts in the steel industry's demand owing to changes in global economic conditions.
- Technological advancements in recycling processes that could alter scrap usage efficiencies.
- Environmental regulations impacting scrap sourcing and utilization.
