In 2023, pig iron consumption in Michigan was recorded at 3.74 million metric tons. The forecasted data suggest a gradual decline in consumption from 2024 to 2028, starting at 3.71 million metric tons in 2024 and reaching 3.61 million metric tons by 2028. This represents a year-on-year decrease ranging around 0.8% annually. The compound annual growth rate (CAGR) over these five years highlights a consistent negative growth trend.

Future trends to watch for include:

Advancements in alternative materials and technologies that may further impact pig iron demand.
Environmental regulations and sustainability initiatives affecting the steel production process.
Economic factors influencing industrial demand within key sectors such as automotive and construction.