In 2023, iron ore pellets consumption in blast furnaces in the US stood at 31.70 Million Metric Tons. The forecast for 2024-2028 indicates a consistent decline. Year-on-year variations depict a downward trend of approximately 2-3% annually. The compound annual growth rate (CAGR) from 2024 to 2028 suggests a decrease of about 2% per year on average. This decline signifies potential shifts in the industrial or energy sectors affecting demand.

Future trends to watch for:

Technological advancements in steel production that could reduce pellet consumption.
Environmental regulations influencing raw material usage.
Economic factors affecting the construction and automotive industries, pivotal in demand for steel and hence for iron ore pellets.