In 2023, the shipments of iron and steel scrap in Illinois stood at 9.90 thousand metric tons. Forecasted data show a moderate annual increase in shipments from 2024 to 2028, with values rising from 10.05 to 10.74 thousand metric tons. Year-on-year growth figures are approximately 1.79% for 2025, 1.66% for 2026, 1.60% for 2027, and 1.61% for 2028. The estimated compound annual growth rate (CAGR) over the five-year forecast period is approximately 1.67%, indicating a steady upward trend.
Future trends to watch include potential impacts from changes in global trade policies, advancements in recycling technologies, and the influence of sustainable practices on the iron and steel industry. Monitoring shifts in supply chains and demand for recycled materials will be crucial.
