The consumption of ferrosilicon, 75%, in cast iron production in the US is forecasted to decrease steadily from 10.66 thousand metric tons in 2024 to 6.62 thousand metric tons by 2028. In 2023, the consumption stood at similar levels to the 2024 forecast, indicating a start of a downward trend. Year-on-year decreases are notable, each year showing an approximate decline in consumption of around 9-14%. The compound annual growth rate for this five-year period estimates an average decrease of around 11% annually.
Future trends to watch for in this sector include potential changes in alloy demand due to shifts in cast iron production methods and technological advancements. Additionally, environmental regulations could impact ferrosilicon usage and substitution trends in the metallurgy industry. Monitoring these factors will be crucial in assessing long-term market dynamics.
