In 2023, ferromolybdenum consumption in US steel manufacturing was at 4.39 thousand metric tons. The forecast from 2024 to 2028 shows a steady increase in usage, with an annual growth rate of about 0.45 %, reaching 4.49 thousand metric tons by 2028. Such consistent growth reflects the steady demand expected in the steel industry for this critical alloying element.

Looking forward, trends to monitor include:

Innovation in steel production technology potentially increasing ferromolybdenum efficiency.
Economic factors affecting overall steel industry demand.
Environmental regulations impacting production processes and material choices.