The forecast for new iron and steel supply available for consumption in Illinois indicates a decline from 2024 to 2028, with values decreasing from 1.36 million metric tons to 1.16 million metric tons. In 2023, the actual supply was notably higher. Year-on-year analysis shows a consistent decrease of approximately 3.68% from 2024 to 2028. Over this five-year period, the compound annual growth rate (CAGR) signals an average yearly decline of 3.83%.
Future trends to watch for include potential impacts from emerging technologies and production efficiencies, changes in trade policies, and shifts in consumer demand which may influence these supply dynamics further.
