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

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

The article provides a comprehensive analysis and forecast for the European Union's market for granules and powders of pig iron. It projects a slight volume growth (CAGR +0.3%) to 1.8M tons by 2035, with stronger value growth (CAGR +2.1%) to $3.8B, driven by rising demand. In 2024, consumption saw a modest recovery to 1.8M tons, led by France, Italy, and Spain. Production reached 1.9M tons, with France, Sweden, and Italy as top producers. Intra-EU trade shows Sweden as the leading exporter, while Germany and Italy are the largest importers. The market is characterized by varying per capita consumption and significant price differences between product types (e.g., alloy steel powders vs. granules) and trading countries.

Key Findings

• EU market value is forecast to grow faster (+2.1% CAGR) than volume (+0.3% CAGR), reaching $3.8B by 2035
• France, Italy, and Spain are the largest consumers, together accounting for 55% of total EU consumption
• Sweden is the dominant exporter, supplying 43% of intra-EU trade volume, while Germany and Italy are the leading importers
• Alloy steel powders command a significantly higher price (~$4,257/ton import price) compared to granules of pig iron (~$1,188/ton)
• Romania shows the most dynamic growth among member states in both consumption value (+3.2% CAGR) and import volume

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. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, consumption reached the peak volume at 2M tons in 2018; however, from 2019 to 2024, consumption failed to regain momentum.

The size of the pig iron articles market in the European Union amounted to $3B in 2024, approximately reflecting 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 only minor fluctuations being observed in certain years. Over the period under review, the market attained the peak level at $3.1B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Consumption By Country

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

Romania, with a CAGR of +3.2%, recorded the highest rates of growth with regard to market size in terms of the main consuming countries 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

After two years of decline, production of granules and powders of pig iron increased by 0.7% to 1.9M tons in 2024. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 3.8% against the previous year. The volume of production peaked at 2.2M tons in 2017; however, from 2018 to 2024, production failed to regain momentum.

In value terms, pig iron articles production dropped to $3.5B in 2024 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by 21%. Over the period under review, production reached the maximum level 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 comprising 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 for the first time since 2021, thus ending a two-year declining trend. In general, imports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 16% against the previous year. Over the period under review, imports reached the peak figure at 553K tons in 2018; however, from 2019 to 2024, imports failed to regain momentum.

In value terms, pig iron articles imports shrank to $777M in 2024. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 34%. The level of import peaked at $916M in 2022; however, from 2023 to 2024, imports failed to regain momentum.

Imports By Country

Italy (93K tons) and Germany (87K tons) represented the main importers of granules and powders of pig iron in 2024, resulting at approx. 21% and 20% of total imports, respectively. It was distantly followed by Spain (50K tons), Poland (28K tons), the Czech Republic (24K tons) and France (20K tons), together comprising a 28% share of total imports. The following importers - Romania (19K tons), Austria (19K tons), Belgium (17K tons) and the Netherlands (15K tons) - together made up 16% of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the key 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, Germany ($211M), Italy ($133M) and Spain ($97M) constituted the countries with the highest levels of imports in 2024, together accounting for 57% of total imports. Poland, France, Austria, the Czech Republic, the Netherlands, Belgium and Romania lagged somewhat behind, together comprising a further 28%.

Romania, with a CAGR of +7.0%, recorded the highest growth rate of the value of imports, among the main importing countries 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) dominates imports structure, together achieving 91% of total imports. It was distantly followed by alloy steel powders (39K tons), creating 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, the largest types of imported granules and powders of pig iron were powders of pig iron ($370M), granules of pig iron or spiegeleisen ($241M) and alloy steel powders ($166M).

In terms of 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

In 2024, the import price in the European Union amounted to $1,798 per ton, falling by -9.4% against the previous year. Import price indicated a modest increase 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 pace of growth appeared the most rapid in 2022 an increase of 19%. Over the period under review, import prices hit record highs at $1,986 per ton in 2023, and then shrank in the following year.

There were significant differences in the average prices amongst the major imported products. In 2024, 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

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 a slight expansion from 2013 to 2024: its price increased at an average annual rate of +1.1% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 when the import price increased by 19% against the previous year. Over the period under review, import prices hit record highs at $1,986 per ton in 2023, and then fell 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 increased by 2.1% to 574K tons for the first time since 2021, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 19% against the previous year. Over the period under review, the exports reached the peak figure at 743K tons in 2017; however, from 2018 to 2024, the exports stood at a somewhat lower figure.

In value terms, pig iron articles exports shrank to $1.1B in 2024. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. Over the period under review, the exports hit record highs at $1.3B in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

Exports By Country

In 2024, Sweden (245K tons) was the main exporter of granules and powders of pig iron, committing 43% of total exports. Germany (91K tons) held a 16% share (based on physical terms) of total exports, which put it in second place, followed by France (11%), Romania (7.9%), Spain (4.7%) and Italy (4.6%). Belgium (17K tons) followed a long way behind the leaders.

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) appeared to be the countries with the highest levels of exports in 2024, together comprising 70% of total exports. Romania, France, Spain and Italy lagged somewhat behind, together comprising a further 21%.

Among the main exporting countries, Romania, with a CAGR of +6.0%, recorded the highest growth rate of 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 major 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 biggest increases were recorded for alloy steel powders (with a CAGR of +2.9%), while shipments for 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.

For powders of pig iron, exports remained relatively stable over the period from 2013-2024. 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

The export price in the European Union stood at $1,933 per ton in 2024, dropping by -8.1% against the previous year. Export price indicated a noticeable 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 an increase of 20% against the previous year. Over the period under review, the export prices attained the maximum at $2,104 per ton in 2023, and then shrank 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, waning by -8.1% against the previous year. Export price indicated tangible growth from 2013 to 2024: its price increased at an average annual rate of +2.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 20%. The level of export peaked at $2,104 per ton in 2023, and then contracted 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.