Non-Malleable Cast Iron Articles Market

The global market for non-malleable cast iron articles is expected to see a slight increase in performance with a forecasted CAGR of +0.3% in consumption volume and +2.5% in market value from 2022 to 2030. In 2022, consumption saw a slight decline, but is anticipated to trend upwards. China, the United States, and India were the largest consumers, while China also led in production and export. Imports and exports showed fluctuations but are expected to see growth in the near future.

Market Forecast

Driven by rising demand for non-malleable cast iron articles worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.3% for the period from 2022 to 2030, which is projected to bring the market volume to 5.1M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.5% for the period from 2022 to 2030, which is projected to bring the market value to $13.7B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Articles Of Non-Malleable Cast Iron

In 2022, approx. 4.9M tons of articles of non-malleable cast iron were consumed worldwide; waning by -2.1% against the previous year. In general, consumption recorded a pronounced curtailment. The growth pace was the most rapid in 2021 with an increase of 4.1%. Global consumption peaked at 7M tons in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

The global non-malleable cast iron articles market value contracted modestly to $11.2B in 2022, remaining relatively unchanged 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). Over the period under review, consumption showed a noticeable curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 5.8% against the previous year. Over the period under review, the global market hit record highs at $15.4B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (1.3M tons), the United States (772K tons) and India (358K tons), together comprising 50% of global consumption. Russia, Pakistan, Indonesia, Brazil, Germany, the UK, Mexico, France, Turkey and Canada lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by France (with a CAGR of +2.6%), while consumption for the other global leaders experienced a decline in the consumption figures.

In value terms, the largest non-malleable cast iron articles markets worldwide were the United States ($2.5B), China ($1.9B) and India ($886M), together accounting for 47% of the global market. Indonesia, Pakistan, Turkey, Mexico, Germany, Brazil, Russia, France, Canada and the UK lagged somewhat behind, together accounting for a further 28%.

Among the main consuming countries, Turkey, with a CAGR of +7.1%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of non-malleable cast iron articles per capita consumption in 2022 were the United States (2.3 kg per person), Canada (2.1 kg per person) and the UK (1.6 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by France (with a CAGR of +2.3%), while consumption for the other global leaders experienced a decline in the per capita consumption figures.

Production

World Production of Articles Of Non-Malleable Cast Iron

In 2022, global production of articles of non-malleable cast iron contracted modestly to 5.3M tons, shrinking by -2.7% on the previous year. Over the period under review, production recorded a perceptible downturn. The most prominent rate of growth was recorded in 2021 with an increase of 11%. Global production peaked at 7.1M tons in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, non-malleable cast iron articles production shrank modestly to $11.7B in 2022 estimated in export price. Overall, production showed a perceptible contraction. The growth pace was the most rapid in 2016 when the production volume increased by 5.5%. Global production peaked at $14.8B in 2013; however, from 2014 to 2022, production remained at a lower figure.

Production By Country

China (1.7M tons) constituted the country with the largest volume of non-malleable cast iron articles production, comprising approx. 32% of total volume. Moreover, non-malleable cast iron articles production in China exceeded the figures recorded by the second-largest producer, the United States (628K tons), threefold. India (503K tons) ranked third in terms of total production with a 9.4% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to -2.8%. The remaining producing countries recorded the following average annual rates of production growth: the United States (-2.8% per year) and India (-1.0% per year).

Imports

World Imports of Articles Of Non-Malleable Cast Iron

In 2022, supplies from abroad of articles of non-malleable cast iron increased by 7.2% to 1.3M tons, rising for the second consecutive year after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 15%. Over the period under review, global imports hit record highs at 1.4M tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, non-malleable cast iron articles imports skyrocketed to $2.7B in 2022. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 28%. Over the period under review, global imports hit record highs at $2.8B in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports By Country

The countries with the highest levels of non-malleable cast iron articles imports in 2022 were the United States (178K tons), Germany (134K tons) and Italy (103K tons), together reaching 33% of total import. Russia (65K tons) ranks next in terms of the total imports with a 5.2% share, followed by France (5.2%), the Czech Republic (4.6%), Austria (4.5%) and Canada (4.5%). The UK (40K tons), the Netherlands (36K tons), Japan (33K tons), Switzerland (29K tons) and Poland (28K tons) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +7.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, Germany ($362M), the United States ($323M) and Italy ($210M) appeared to be the countries with the highest levels of imports in 2022, with a combined 33% share of global imports. France, Austria, the Czech Republic, Canada, the Netherlands, the UK, Japan, Switzerland, Russia and Poland lagged somewhat behind, together accounting for a further 35%.

Canada, with a CAGR of +8.6%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average non-malleable cast iron articles import price stood at $2,174 per ton in 2022, surging by 8.1% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 11%. Global import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($2,960 per ton), while Russia ($1,033 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Articles Of Non-Malleable Cast Iron

In 2022, shipments abroad of articles of non-malleable cast iron increased by 2.6% to 1.7M tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 44%. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, non-malleable cast iron articles exports expanded sharply to $3.7B in 2022. Over the period under review, total exports indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +61.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 48%. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports By Country

In 2022, China (384K tons), distantly followed by France (200K tons), India (152K tons), the Czech Republic (133K tons), Germany (131K tons) and Poland (80K tons) represented the major exporters of articles of non-malleable cast iron, together committing 65% of total exports. Turkey (67K tons), Denmark (59K tons), Myanmar (57K tons), Belgium (49K tons), Spain (47K tons), the UK (39K tons) and the United States (34K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +102.4%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, China ($830M) remains the largest non-malleable cast iron articles supplier worldwide, comprising 23% of global exports. The second position in the ranking was taken by France ($357M), with a 9.8% share of global exports. It was followed by Germany, with a 9.3% share.

In China, non-malleable cast iron articles exports increased at an average annual rate of +5.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (+19.2% per year) and Germany (-3.7% per year).

Export Prices By Country

In 2022, the average non-malleable cast iron articles export price amounted to $2,193 per ton, with an increase of 6.3% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 9.6% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($3,453 per ton), while Myanmar ($190 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform