Indonesia: Pig Iron Articles Market 2023

Pig Iron Articles Market Size in Indonesia

After two years of decline, the Indonesian pig iron articles market increased by 64% to $X in 2021. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Pig Iron Articles Exports

Exports from Indonesia

In 2021, exports of granules and powders of pig iron from Indonesia contracted rapidly to X tons, falling by -33.8% against the previous year's figure. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2016 when exports increased by 396% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, pig iron articles exports shrank dramatically to $X in 2021. Overall, exports recorded a drastic downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 300% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons) was the main destination for pig iron articles exports from Indonesia, accounting for a 79% share of total exports. Moreover, pig iron articles exports to Vietnam exceeded the volume sent to the second major destination, China (X tons), fourfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Vietnam stood at +126.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-26.6% per year) and Malaysia (-19.4% per year).

In value terms, China ($X) remains the key foreign market for granules and powders of pig iron exports from Indonesia, comprising 67% of total exports. The second position in the ranking was held by Vietnam ($X), with a 20% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to China stood at -14.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+103.0% per year) and Malaysia (-20.2% per year).

Export Prices by Country

In 2021, the average pig iron articles export price amounted to $X per ton, shrinking by -40.3% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 90% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined rapidly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+16.3%), while the prices for the other major destinations experienced a decline.

Pig Iron Articles Imports

Imports into Indonesia

In 2021, after two years of decline, there was significant growth in supplies from abroad of granules and powders of pig iron, when their volume increased by 49% to X tons. In general, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, pig iron articles imports soared to $X in 2021. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of pig iron articles to Indonesia, accounting for a 40% share of total imports. Moreover, pig iron articles imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +23.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+13.0% per year) and Thailand (-8.1% per year).

In value terms, the largest pig iron articles suppliers to Indonesia were China ($X), Japan ($X) and Singapore ($X), with a combined 66% share of total imports. These countries were followed by Sweden, Thailand, South Korea and Iran, which together accounted for a further 20%.

Iran, with a CAGR of +56.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average pig iron articles import price stood at $X per ton in 2021, with an increase of 15% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+24.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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