The projected forecast for secondary chromium material supply in the US exhibits a steady decline from 2024 through 2028. The supply begins at 139.65 thousand metric tons in 2024, diminishing to 136.65 thousand metric tons by 2028. Notably, this trend reflects a gradual yearly decrease, with a slight annual contraction around -0.6% to -0.9% year-on-year.
Given that 2023 saw a steady output compared to earlier figures, the compound annual growth rate (CAGR) for the period up to 2028 would indicate an overall negative growth reflecting the slipping supply. This could be due to several factors including technological changes, material substitution, or global market shifts.
Watch for future trends and drivers that might influence these projections:
- Technological advancements in recycling processes.
- Substitution of chromium in industrial applications.
- Regulatory changes impacting the supply chain.
- Fluctuations in global chromium demand and prices.
