The consumption of medium and low-carbon ferromanganese in HSLA steel manufacturing in the US stood at 15.83 thousand metric tons in 2023. The forecast for 2024 predicts a consumption rise to 16.19 thousand tons, marking a 2.27% increase. Over the subsequent years, usage is projected to grow steadily, reaching 17.6 thousand tons by 2028, with an average compound annual growth rate (CAGR) of approximately 2.65%. This five-year forecast indicates continuous growth in demand driven by increased HSLA steel production and innovation in construction, automotive, and transportation sectors.
Future trends to watch include the impact of sustainability initiatives favoring low-carbon processes, technological advancements in steel production, and potential regulatory changes in emissions and resource use, as they could influence ferromanganese demand dynamics.
