The forecast for pig iron consumption in Illinois indicates a slight decline from 2.02 million metric tons in 2024 to a stable 2.0 million metric tons by 2027 and 2028. This represents a minor decrease in consumption with a CAGR of approximately -0.23% over the five-year forecast period. In 2023, the actual consumption was not provided but typically serves as a baseline for comparing these projections.
Future trends to watch include:
- Potential impacts of technological advances on pig iron efficiency and demand.
- Changes in the manufacturing sector, particularly in steel production using pig iron.
- Economic shifts and trade policies affecting raw material costs and availability.
- Environmental regulations influencing pig iron production and sourcing.
