As of 2023, iron and steel scrap consumption by US manufacturers was approximately 50.27 million metric tons. From 2024 to 2028, forecasts show a gradual decline, with estimates dropping from 50.02 million metric tons in 2024 to 49.18 million metric tons in 2028. The annual average rate of decline, calculated as the compound annual growth rate (CAGR), is approximately 0.44% over these 5 years. This steady decrease indicates a downward trend in scrap consumption at these manufacturing facilities.

Future trends to watch for include:

The potential impact of evolving environmental regulations on scrap recovery and usage rates.
Technological advancements in recycling processes and their adoption by manufacturers.
Fluctuations in global steel demand that could influence domestic scrap consumption.