In 2023, titanium consumption in cast iron manufacturing in the US stood at approximately 10 metric tons. Forecast data indicates a gradual decline, with values expected to reach 9.7 metric tons in 2024 and 8.7 by 2028. Over the next five years, the compound annual growth rate (CAGR) reflects a consistent annual decrease in consumption levels.
Future trends to watch for include:
- Technological advancements leading to more efficient use of titanium, possibly slowing the decline.
- Changes in market demand for lighter and more durable materials influencing titanium's role.
- The impact of economic factors and regulatory changes on titanium supply and cost.