Global Pig Iron Articles Market 2023

Pig Iron Articles Market Size

In 2021, the global pig iron articles market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Pig Iron Articles Production

In value terms, pig iron articles production stood at $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 15%. Global production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Pig Iron Articles Exports

Exports

After three years of decline, shipments abroad of granules and powders of pig iron increased by 41% to X tons in 2021. The total export volume increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, pig iron articles exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons), distantly followed by Sweden (X tons), China (X tons), the United States (X tons), Germany (X tons), Canada (X tons) and Japan (X tons) represented the main exporters of granules and powders of pig iron, together creating 75% of total exports. Turkey (X tons), Romania (X tons), South Korea (X tons) and Thailand (X tons) took a relatively small share of total exports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +51.5%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Japan ($X) and India ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 41% of global exports.

India, with a CAGR of +41.9%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average pig iron articles export price amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 15%. The global export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+8.2%), while the other global leaders experienced more modest paces of growth.

Pig Iron Articles Imports

Imports

Global pig iron articles imports surged to X tons in 2021, with an increase of 19% against the previous year's figure. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, pig iron articles imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern 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

The purchases of the twelve major importers of granules and powders of pig iron, namely Malaysia, China, South Korea, the United States, Germany, Italy, Bangladesh, Japan, India, Taiwan (Chinese), Spain and Oman, represented more than half of total import. Mexico (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bangladesh (with a CAGR of +84.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest pig iron articles importing markets worldwide were China ($X), Germany ($X) and Japan ($X), together accounting for 31% of global imports. These countries were followed by the United States, South Korea, Taiwan (Chinese), Italy, Spain, India, Mexico, Bangladesh, Malaysia and Oman, which together accounted for a further 39%.

In terms of the main importing countries, Bangladesh, with a CAGR of +63.7%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global 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 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+4.7%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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