The historical data for stainless steel shipments in the US indicates a consistent upward trend, reaching 2.68 million metric tons in 2023. From 2013 to 2023, the year-on-year growth rates have generally decreased, while the compounded annual growth rate (CAGR) over 5-year periods has shown a gradual decline, reflecting a maturing market. Notably, the year-on-year growth fell to 1.71% in 2023, with the 5-year CAGR at 1.87%.
Looking forward from 2024 to 2028, shipments are expected to continue growing, albeit at a slower pace, with a forecast 5-year CAGR of 1.21% and an overall 5-year growth rate of 6.2%. Key trends to watch for include potential impacts of technological advancements, shifts in demand from key industries, and macroeconomic factors that may influence stainless steel consumption.
