In 2023, the consumption of silicon metal in stainless and heat-resisting steel production in the US stood at approximately 252 metric tons. As we move into the forecasted period from 2024 to 2028, a gradual decline is projected with figures decreasing annually from 250.14 metric tons in 2024 to 237.27 metric tons in 2028.

Year-on-year percentage variations show a steady decrease of about 1-1.5% per year, which indicates a shrinking demand over the period. The compound annual growth rate (CAGR) highlights an average annual decline of around 1.2% from 2024 to 2028.

Future trends to watch for include:

Technological advancements in steel manufacturing potentially affecting raw material requirements.
Changes in US infrastructure projects, influencing steel production demand.
Environmental regulations impacting the use of silicon in metal production processes.