In 2023, the iron and steel supply available for consumption in Arizona, Colorado, Idaho, Montana, Utah stood at 2.01 million metric tons. The forecast from 2024 to 2028 shows a slight declining trend, decreasing from 1.99 million metric tons in 2024 to 1.9 million metric tons by 2028. The year-on-year variation illustrates a gradual decline in supply, with the most significant reduction projected between 2027 and 2028 at 1.04%. The compound annual growth rate (CAGR) from 2024 to 2028 indicates a consistent downward trend averaging -1.14% per year.
Future trends to watch for include technological advancements in steel production that could enhance efficiency and sustainability, potential shifts in regional construction demand, and global supply chain dynamics affecting raw material accessibility. Monitoring policy regulations regarding environmental impacts will also be crucial, as stricter standards could influence production methods and costs.
