In 2023, the consumption of machinery and cupola cast iron scrap at US manufacturers of pig iron, raw steel, and castings was higher than the forecasted trend beginning in 2024. From 2024 to 2028, consumption is expected to decline consistently, with values of 22.01, 20.97, 19.96, 18.96, and 17.99 thousand metric tons respectively. This reflects a steady year-on-year decrease. The compound annual growth rate (CAGR) over this period indicates a negative growth trajectory.
Key future trends to watch include potential impacts of technological advancements in manufacturing, changes in international trade policies affecting raw material prices, and sustainability initiatives driving changes in scrap iron utilization practices.
