European Union's Pig Iron Articles Market Poised for Steady Growth With 2.1% Value CAGR Through 2035

IndexBox has just published a new report: EU - Granules and Powders of Pig Iron - Market Analysis, Forecast, Size, Trends And Insights.

This market analysis forecasts the EU pig iron granules and powders market to grow to 1.8M tons (volume CAGR +0.3%) and $3.8B (value CAGR +2.1%) by 2035. In 2024, consumption was 1.8M tons, valued at $3B, with France, Italy, and Spain as the largest consumers. Production reached 1.9M tons, led by France, Sweden, and Italy. Intra-EU trade saw imports of 432K tons ($777M) and exports of 574K tons ($1.1B). Key trends include Romania's strong growth in consumption and import value, and significant price differences between product types and trading countries.

Key Findings

• EU market forecast to reach 1.8M tons and $3.8B by 2035, with modest CAGRs of +0.3% in volume and +2.1% in value
• France, Italy, and Spain are the top consuming countries, together accounting for 55% of total market volume and value
• Sweden is the leading exporter, supplying 43% of total EU exports by volume, followed by Germany
• Romania shows the most dynamic growth, leading in consumption CAGR (+3.2% in value) and import volume increase (+11.2%)
• Significant price disparities exist, with alloy steel powders trading at over $4,200/ton, more than triple the price of granules

Market Forecast

Driven by rising demand for pig iron articles in the European Union, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.3% for the period from 2024 to 2035, which is projected to bring the market volume to 1.8M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.1% for the period from 2024 to 2035, which is projected to bring the market value to $3.8B (in nominal wholesale prices) by the end of 2035.

Consumption

European Union's Consumption of Granules and Powders of Pig Iron

In 2024, consumption of granules and powders of pig iron increased by 0.2% to 1.8M tons for the first time since 2021, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The volume of consumption peaked at 2M tons in 2018; however, from 2019 to 2024, consumption failed to regain momentum.

The value of the pig iron articles market in the European Union totaled $3B in 2024, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +2.4% from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $3.1B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were France (379K tons), Italy (331K tons) and Spain (267K tons), together accounting for 55% of total consumption. Germany, Poland, Romania, the Czech Republic, the Netherlands, Greece and Belgium lagged somewhat behind, together comprising a further 37%.

From 2013 to 2024, the biggest increases were recorded for Romania (with a CAGR of +0.3%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest pig iron articles markets in the European Union were France ($656M), Italy ($564M) and Spain ($454M), together accounting for 55% of the total market. Germany, Poland, Romania, the Czech Republic, the Netherlands, Greece and Belgium lagged somewhat behind, together accounting for a further 37%.

Among the main consuming countries, Romania, with a CAGR of +3.2%, recorded the highest growth rate of market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of pig iron articles per capita consumption in 2024 were the Czech Republic (6 kg per person), Spain (5.7 kg per person) and Italy (5.6 kg per person).

From 2013 to 2024, the biggest increases were recorded for Romania (with a CAGR of +0.8%), while consumption for the other leaders experienced mixed trends in the per capita consumption figures.

Production

European Union's Production of Granules and Powders of Pig Iron

In 2024, after two years of decline, there was growth in production of granules and powders of pig iron, when its volume increased by 0.7% to 1.9M tons. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 3.8%. Over the period under review, production attained the peak volume at 2.2M tons in 2017; however, from 2018 to 2024, production stood at a somewhat lower figure.

In value terms, pig iron articles production contracted slightly to $3.5B in 2024 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by 21% against the previous year. The level of production peaked at $3.8B in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2024 were France (423K tons), Sweden (268K tons) and Italy (264K tons), together comprising 50% of total production. Spain, Germany, Poland, Romania, the Netherlands and the Czech Republic lagged somewhat behind, together accounting for a further 42%.

From 2013 to 2024, the biggest increases were recorded for Germany (with a CAGR of +1.2%), while production for the other leaders experienced more modest paces of growth.

Imports

European Union's Imports of Granules and Powders of Pig Iron

In 2024, purchases abroad of granules and powders of pig iron was finally on the rise to reach 432K tons after two years of decline. In general, imports, however, recorded a slight reduction. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. The volume of import peaked at 553K tons in 2018; however, from 2019 to 2024, imports remained at a lower figure.

In value terms, pig iron articles imports dropped to $777M in 2024. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 34% against the previous year. Over the period under review, imports attained the peak figure at $916M in 2022; however, from 2023 to 2024, imports remained at a lower figure.

Imports By Country

Italy (93K tons) and Germany (87K tons) represented roughly 42% of total imports in 2024. Spain (50K tons) ranks next in terms of the total imports with a 12% share, followed by Poland (6.6%), the Czech Republic (5.5%) and France (4.7%). Romania (19K tons), Austria (19K tons), Belgium (17K tons) and the Netherlands (15K tons) took a minor share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Romania (with a CAGR of +11.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pig iron articles importing markets in the European Union were Germany ($211M), Italy ($133M) and Spain ($97M), together comprising 57% of total imports. Poland, France, Austria, the Czech Republic, the Netherlands, Belgium and Romania lagged somewhat behind, together accounting for a further 28%.

In terms of the main importing countries, Romania, with a CAGR of +7.0%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Imports By Type

Granules of pig iron or spiegeleisen (203K tons) and powders of pig iron (190K tons) prevails in imports structure, together making up 91% of total imports. It was distantly followed by alloy steel powders (39K tons), committing a 9% share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key imported products, was attained by alloy steel powders (with a CAGR of +3.8%), while imports for the other products experienced a decline in the imports figures.

In value terms, powders of pig iron ($370M), granules of pig iron or spiegeleisen ($241M) and alloy steel powders ($166M) appeared to be the products with the highest levels of imports in 2024.

Among the main imported products, alloy steel powders, with a CAGR of +1.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced a decline in the imports figures.

Import Prices By Type

The import price in the European Union stood at $1,798 per ton in 2024, declining by -9.4% against the previous year. Import price indicated slight growth from 2013 to 2024: its price increased at an average annual rate of +1.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2022 an increase of 19% against the previous year. The level of import peaked at $1,986 per ton in 2023, and then fell in the following year.

Prices varied noticeably by the product type; the product with the highest price was alloy steel powders ($4,257 per ton), while the price for granules of pig iron or spiegeleisen ($1,188 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by granules of pig iron or spiegeleisen (+1.3%), while the other products experienced mixed trends in the import price figures.

Import Prices By Country

In 2024, the import price in the European Union amounted to $1,798 per ton, waning by -9.4% against the previous year. Import price indicated modest growth from 2013 to 2024: its price increased at an average annual rate of +1.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2022 an increase of 19%. The level of import peaked at $1,986 per ton in 2023, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Germany ($2,436 per ton), while Romania ($854 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Poland (+4.1%), while the other leaders experienced more modest paces of growth.

Exports

European Union's Exports of Granules and Powders of Pig Iron

In 2024, shipments abroad of granules and powders of pig iron was finally on the rise to reach 574K tons after two years of decline. Overall, exports, however, saw a mild curtailment. The most prominent rate of growth was recorded in 2021 when exports increased by 19% against the previous year. The volume of export peaked at 743K tons in 2017; however, from 2018 to 2024, the exports failed to regain momentum.

In value terms, pig iron articles exports contracted to $1.1B in 2024. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 42%. Over the period under review, the exports reached the peak figure at $1.3B in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

Exports By Country

Sweden was the key exporter of granules and powders of pig iron in the European Union, with the volume of exports reaching 245K tons, which was near 43% of total exports in 2024. It was distantly followed by Germany (91K tons), France (64K tons), Romania (46K tons), Spain (27K tons) and Italy (26K tons), together generating a 44% share of total exports. Belgium (17K tons) took a minor share of total exports.

From 2013 to 2024, average annual rates of growth with regard to pig iron articles exports from Sweden stood at -1.7%. At the same time, Belgium (+7.5%), Romania (+5.5%) and Germany (+3.6%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +7.5% from 2013-2024. By contrast, Spain (-2.4%), France (-4.2%) and Italy (-5.0%) illustrated a downward trend over the same period. Germany (+6.5 p.p.), Romania (+4.1 p.p.) and Belgium (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Sweden, Italy and France saw its share reduced by -2.2%, -2.4% and -4.5% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($454M), Germany ($230M) and Belgium ($94M) were the countries with the highest levels of exports in 2024, together accounting for 70% of total exports. Romania, France, Spain and Italy lagged somewhat behind, together accounting for a further 21%.

Among the main exporting countries, Romania, with a CAGR of +6.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Exports By Type

Powders of pig iron was the main exported product with an export of about 319K tons, which resulted at 56% of total exports. It was distantly followed by granules of pig iron or spiegeleisen (194K tons) and alloy steel powders (61K tons), together generating a 44% share of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main exported products, was attained by alloy steel powders (with a CAGR of +2.9%), while the other products experienced a decline in the exports figures.

In value terms, powders of pig iron ($588M) remains the largest type of granules and powders of pig iron supplied in the European Union, comprising 53% of total exports. The second position in the ranking was held by granules of pig iron or spiegeleisen ($268M), with a 24% share of total exports.

From 2013 to 2024, the average annual growth rate of the value of powders of pig iron exports was relatively modest. With regard to the other exported products, the following average annual rates of growth were recorded: granules of pig iron or spiegeleisen (-0.1% per year) and alloy steel powders (+3.3% per year).

Export Prices By Type

In 2024, the export price in the European Union amounted to $1,933 per ton, reducing by -8.1% against the previous year. Export price indicated a tangible expansion from 2013 to 2024: its price increased at an average annual rate of +2.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 20%. The level of export peaked at $2,104 per ton in 2023, and then dropped in the following year.

Prices varied noticeably by the product type; the product with the highest price was alloy steel powders ($4,160 per ton), while the average price for exports of granules of pig iron or spiegeleisen ($1,381 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by granules of pig iron or spiegeleisen (+2.6%), while the other products experienced more modest paces of growth.

Export Prices By Country

In 2024, the export price in the European Union amounted to $1,933 per ton, shrinking by -8.1% against the previous year. Export price indicated a measured expansion from 2013 to 2024: its price increased at an average annual rate of +2.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when the export price increased by 20% against the previous year. Over the period under review, the export prices hit record highs at $2,104 per ton in 2023, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($5,643 per ton), while Italy ($1,167 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Italy (+3.5%), while the other leaders experienced more modest paces of growth.