World - Granules and Powders of Pig Iron - Market Analysis, Forecast, Size, Trends And Insights
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The global market for granules and powders of pig iron is expected to experience a significant upward consumption trend over the next eight years, with market performance forecasted to accelerate. China remains the largest consumer of pig iron articles, followed by India and the United States. Production and consumption of pig iron articles have been on the rise, with Malaysia showing the highest growth rate. The market value is projected to reach $29.6B by 2030. Imports and exports of pig iron articles have also been increasing, with alloy steel powders showing the highest growth rate. Overall, the global market for granules and powders of pig iron is dynamic and poised for further growth.
Market Forecast
Driven by increasing demand for granules and powders of pig iron worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.1% for the period from 2022 to 2030, which is projected to bring the market volume to 17M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $29.6B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Granules and Powders of Pig Iron
After three years of decline, consumption of granules and powders of pig iron increased by 4.7% to 13M tons in 2022. The total consumption volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, global consumption reached the peak volume at 15M tons in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.
The global pig iron articles market value totaled $19.7B in 2022, rising by 4.2% 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). In general, consumption recorded modest growth. The growth pace was the most rapid in 2016 when the market value increased by 9.9% against the previous year. Global consumption peaked at $23.6B in 2019; however, from 2020 to 2022, consumption failed to regain momentum.
Consumption By Country
China (2.9M tons) remains the largest pig iron articles consuming country worldwide, accounting for 21% of total volume. Moreover, pig iron articles consumption in China exceeded the figures recorded by the second-largest consumer, India (1.3M tons), twofold. The third position in this ranking was held by the United States (1.1M tons), with an 8.3% share.
In China, pig iron articles consumption increased at an average annual rate of +6.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+7.4% per year) and the United States (+5.8% per year).
In value terms, China ($3.1B), Japan ($1.9B) and the United States ($1.6B) constituted the countries with the highest levels of market value in 2022, with a combined 34% share of the global market. France, the UK, Indonesia, India, Malaysia, Brazil, South Korea, Bangladesh, Pakistan and Ukraine lagged somewhat behind, together accounting for a further 30%.
In terms of the main consuming countries, Malaysia, with a CAGR of +16.6%, recorded the highest growth rate of 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 pig iron articles per capita consumption in 2022 were Malaysia (11 kg per person), Ukraine (8.6 kg per person) and South Korea (6.2 kg per person).
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Malaysia (with a CAGR of +13.5%), while consumption for the other global leaders experienced more modest paces of growth.
Production
World Production of Granules and Powders of Pig Iron
In 2022, production of granules and powders of pig iron increased by 0.1% to 13M tons for the first time since 2018, thus ending a three-year declining trend. The total output volume increased at an average annual rate of +2.0% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of 11% against the previous year. Over the period under review, global production attained the peak volume at 15M tons in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.
In value terms, pig iron articles production fell to $19.3B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 18%. As a result, production reached the peak level of $21.1B. From 2017 to 2022, global production growth remained at a lower figure.
Production By Country
The countries with the highest volumes of production in 2022 were China (2.9M tons), India (1.5M tons) and the United States (1.1M tons), together accounting for 42% of global production. Japan, Brazil, Indonesia, Ukraine, Bangladesh, the UK, Sweden, South Korea, Pakistan and Egypt lagged somewhat behind, together accounting for a further 29%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by South Korea (with a CAGR of +9.3%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Granules and Powders of Pig Iron
In 2022, overseas purchases of granules and powders of pig iron increased by 11% to 1.8M tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 13% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to continue growth in the immediate term.
In value terms, pig iron articles imports reached $3B in 2022. The total import value increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 40%. Global imports peaked in 2022 and are expected to retain growth in years to come.
Imports By Country
In 2022, Malaysia (248K tons), followed by Indonesia (150K tons), the United States (127K tons), China (110K tons), Germany (105K tons), South Korea (91K tons) and Italy (88K tons) represented the main importers of granules and powders of pig iron, together comprising 52% of total imports. The following importers - Japan (70K tons), Oman (66K tons), India (57K tons), Taiwan (Chinese) (54K tons), Spain (49K tons) and Mexico (46K tons) - together made up 19% of total imports.
From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +25.1%), while purchases for the other global leaders experienced more modest paces of growth.
In value terms, Japan ($326M), China ($315M) and Germany ($302M) constituted the countries with the highest levels of imports in 2022, with a combined 32% share of global imports. The United States, South Korea, Italy, Taiwan (Chinese), India, Spain, Mexico, Indonesia, Malaysia and Oman lagged somewhat behind, together accounting for a further 39%.
Malaysia, with a CAGR of +10.6%, 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 global leaders experienced more modest paces of growth.
Imports By Type
Granules of pig iron or spiegeleisen was the main type of granules and powders of pig iron in the world, with the volume of imports reaching 908K tons, which was near 52% of total imports in 2022. It was distantly followed by powders of pig iron (601K tons) and alloy steel powders (253K tons), together making up a 48% share of total imports.
From 2012 to 2022, the biggest increases were recorded for granules of pig iron or spiegeleisen (with a CAGR of +2.8%), while purchases for the other products experienced mixed trends in the imports figures.
In value terms, powders of pig iron ($1.3B), alloy steel powders ($993M) and granules of pig iron or spiegeleisen ($715M) constituted the products with the highest levels of imports in 2022.
Alloy steel powders, with a CAGR of +3.8%, recorded the highest rates of growth with regard to the value of imports, among the main imported products over the period under review, while purchases for the other products experienced more modest paces of growth.
Import Prices By Type
The average pig iron articles import price stood at $1,679 per ton in 2022, shrinking by -4.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 an increase of 27% against the previous year. As a result, import price attained the peak level of $1,764 per ton, and then contracted in the following year.
Prices varied noticeably by the product type; the product with the highest price was alloy steel powders ($3,930 per ton), while the price for granules of pig iron or spiegeleisen ($787 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by alloy steel powders (+3.7%), while the other products experienced mixed trends in the import price figures.
Import Prices By Country
In 2022, the average pig iron articles import price amounted to $1,679 per ton, waning by -4.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.6%. The growth pace was the most rapid in 2021 when the average import price increased by 27% against the previous year. As a result, import price attained the peak level of $1,764 per ton, and then reduced modestly in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($4,631 per ton), while Malaysia ($246 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+8.3%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Granules and Powders of Pig Iron
In 2022, after two years of growth, there was significant decline in shipments abroad of granules and powders of pig iron, when their volume decreased by -22.8% to 1.4M tons. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 40% against the previous year. As a result, the exports attained the peak of 1.8M tons, and then fell notably in the following year.
In value terms, pig iron articles exports shrank to $2.5B in 2022. The total export value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 41%. As a result, the exports reached the peak of $2.6B, and then shrank in the following year.
Exports By Country
The biggest shipments were from Sweden (256K tons), India (204K tons), China (137K tons), the United States (105K tons), Germany (96K tons), Canada (90K tons), Japan (69K tons), the Philippines (47K tons), Romania (47K tons), South Korea (36K tons), Thailand (35K tons) and Bangladesh (29K tons), together reaching 82% of total export.
From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +70.4%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, the largest pig iron articles supplying countries worldwide were Sweden ($458M), Germany ($284M) and Japan ($247M), together accounting for 40% of global exports. The United States, China, Canada, India, Romania, South Korea, Thailand, Bangladesh and the Philippines lagged somewhat behind, together accounting for a further 37%.
In terms of the main exporting countries, Bangladesh, with a CAGR of +53.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.
Exports By Type
Granules of pig iron or spiegeleisen (642K tons) and powders of pig iron (571K tons) represented roughly 86% of total exports in 2022. It was distantly followed by alloy steel powders (195K tons), achieving a 14% share of total exports.
From 2012 to 2022, the biggest increases were recorded for granules of pig iron or spiegeleisen (with a CAGR of +2.6%), while shipments for the other products experienced mixed trends in the exports figures.
In value terms, the largest types of exported granules and powders of pig iron were powders of pig iron ($1B), alloy steel powders ($811M) and granules of pig iron or spiegeleisen ($616M).
Alloy steel powders, with a CAGR of +4.4%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exported products over the period under review, while shipments for the other products experienced more modest paces of growth.
Export Prices By Type
The average pig iron articles export price stood at $1,740 per ton in 2022, picking up by 21% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major exported products. In 2022, the product with the highest price was alloy steel powders ($4,150 per ton), while the average price for exports of granules of pig iron or spiegeleisen ($959 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by powders of pig iron (+3.0%), while the other products experienced mixed trends in the export price figures.
Export Prices By Country
The average pig iron articles export price stood at $1,740 per ton in 2022, surging by 21% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($3,591 per ton), while the Philippines ($45 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+13.3%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global pig iron articles market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 24101410 - Granules and powders, of pig iron, spiegeleisen, iron or steel
Country coverage:
Worldwide - the report contains statistical data for 200 countries and includes detailed profiles of the 50 largest consuming countries:
- USA
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
+ the largest producing countries
Data coverage:
- Global market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Global production, split by region and country
- Global trade (exports and imports)
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. GLOBAL PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. GLOBAL IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. GLOBAL EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- United States
- China
- Japan
- Germany
- United Kingdom
- France
- Brazil
- Italy
- Russian Federation
- India
- Canada
- Australia
- Republic of Korea
- Spain
- Mexico
- Indonesia
- Netherlands
- Turkey
- Saudi Arabia
- Switzerland
- Sweden
- Nigeria
- Poland
- Belgium
- Argentina
- Norway
- Austria
- Thailand
- United Arab Emirates
- Colombia
- Denmark
- South Africa
- Malaysia
- Israel
- Singapore
- Egypt
- Philippines
- Finland
- Chile
- Ireland
- Pakistan
- Greece
- Portugal
- Kazakhstan
- Algeria
- Czech Republic
- Qatar
- Peru
- Romania
- Vietnam
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
In value terms, granules and powders of pig iron, spiegeleisen, iron and steel imports totaled $X in 2016. Overall, granules and powders of pig iron, spiegeleisen, iron and steel imports continue t...
In value terms, granules and powders of pig iron, spiegeleisen, iron and steel exports stood at $X in 2016. In general, granules and powders of pig iron, spiegeleisen, iron and steel exports contin...