Cast Iron Household Articles Market

The global market for cast iron household articles is expected to continue an upward trend over the next eight years, with forecasted growth in both consumption and value terms. The market performance is projected to decelerate, with an anticipated CAGR of +0.7% in volume and +3.2% in value from 2022 to 2030. Consumption and production statistics show fluctuations over the analyzed period, with some countries showing significant growth in imports and exports. Key players in the market include China, the United States, and Germany, with China leading both production and exports. The average export price and import price also fluctuated over the years, with noticeable differences among top suppliers.

Market Forecast

Driven by increasing demand for table, kitchen or household articles of cast iron worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 342K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market value to $1.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Table, Kitchen Or Household Articles Of Cast Iron

In 2022, consumption of table, kitchen or household articles of cast iron decreased by -4% to 323K tons for the first time since 2018, thus ending a three-year rising trend. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +66.5% against 2016 indices. As a result, consumption attained the peak volume of 337K tons, and then dropped slightly in the following year.

The global cast iron household articles market size declined modestly to $1.4B in 2022, reducing by -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). Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +26.6% against 2017 indices. Global consumption peaked at $1.4B in 2021, and then reduced slightly in the following year.

Consumption By Country

The country with the largest volume of cast iron household articles consumption was the United States (87K tons), comprising approx. 27% of total volume. Moreover, cast iron household articles consumption in the United States exceeded the figures recorded by the second-largest consumer, China (34K tons), threefold. Democratic Republic of the Congo (17K tons) ranked third in terms of total consumption with a 5.3% share.

In the United States, cast iron household articles consumption expanded at an average annual rate of +13.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (+2.5% per year) and Democratic Republic of the Congo (+23.0% per year).

In value terms, the United States ($342M) led the market, alone. The second position in the ranking was held by China ($115M). It was followed by Germany.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +11.0%. In the other countries, the average annual rates were as follows: China (+1.8% per year) and Germany (+8.2% per year).

In 2022, the highest levels of cast iron household articles per capita consumption was registered in Kyrgyzstan (1,603 kg per 1000 persons), followed by Australia (287 kg per 1000 persons), the United States (261 kg per 1000 persons) and Canada (221 kg per 1000 persons), while the world average per capita consumption of cast iron household articles was estimated at 41 kg per 1000 persons.

In Kyrgyzstan, cast iron household articles per capita consumption increased at an average annual rate of +94.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Australia (+3.7% per year) and the United States (+12.4% per year).

Production

World Production of Table, Kitchen Or Household Articles Of Cast Iron

After five years of growth, production of table, kitchen or household articles of cast iron decreased by -12.9% to 264K tons in 2022. The total output volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; however, 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 23%. As a result, production attained the peak volume of 303K tons, and then contracted in the following year.

In value terms, cast iron household articles production totaled $1.2B in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by 53%. Over the period under review, global production attained the peak level at $1.5B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Production By Country

China (167K tons) remains the largest cast iron household articles producing country worldwide, comprising approx. 63% of total volume. Moreover, cast iron household articles production in China exceeded the figures recorded by the second-largest producer, France (20K tons), eightfold. The third position in this ranking was held by India (15K tons), with a 5.8% share.

In China, cast iron household articles production increased at an average annual rate of +1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: France (+2.9% per year) and India (+1.2% per year).

Imports

World Imports of Table, Kitchen Or Household Articles Of Cast Iron

In 2022, after three years of growth, there was decline in purchases abroad of table, kitchen or household articles of cast iron, when their volume decreased by less than 0.1% to 301K tons. Overall, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 36% against the previous year. As a result, imports reached the peak of 301K tons, leveling off in the following year.

In value terms, cast iron household articles imports reached $1.2B in 2022. Over the period under review, imports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 when imports increased by 40%. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports By Country

The United States was the major importer of table, kitchen or household articles of cast iron in the world, with the volume of imports resulting at 92K tons, which was approx. 31% of total imports in 2022. It was distantly followed by Germany (24K tons), the Netherlands (20K tons) and Democratic Republic of the Congo (17K tons), together committing a 20% share of total imports. The following importers - Kyrgyzstan (11K tons), Belgium (10K tons), Canada (8.8K tons), Australia (7.8K tons), the UK (7.6K tons), France (5.8K tons), Nigeria (5.4K tons) and Spain (4.9K tons) - together made up 20% of total imports.

From 2012 to 2022, average annual rates of growth with regard to cast iron household articles imports into the United States stood at +11.7%. At the same time, Kyrgyzstan (+96.9%), Democratic Republic of the Congo (+51.3%), the Netherlands (+25.1%), Germany (+20.3%), Belgium (+18.0%), Spain (+11.4%), Canada (+6.1%), France (+6.0%) and Australia (+5.0%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing importer imported in the world, with a CAGR of +96.9% from 2012-2022. The UK experienced a relatively flat trend pattern. By contrast, Nigeria (-8.0%) illustrated a downward trend over the same period. While the share of the United States (+8.1 p.p.), Democratic Republic of the Congo (+5.7 p.p.), Germany (+5.1 p.p.), the Netherlands (+5 p.p.), Kyrgyzstan (+3.6 p.p.) and Belgium (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of the UK (-3.5 p.p.) and Nigeria (-7.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($333M) constitutes the largest market for imported table, kitchen or household articles of cast iron worldwide, comprising 27% of global imports. The second position in the ranking was taken by Germany ($141M), with an 11% share of global imports. It was followed by the Netherlands, with an 8.2% share.

In the United States, cast iron household articles imports increased at an average annual rate of +8.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+20.6% per year) and the Netherlands (+26.2% per year).

Import Prices By Country

The average cast iron household articles import price stood at $4,128 per ton in 2022, standing approx. at the previous year. Over the period under review, the import price continues to indicate a modest expansion. The most prominent rate of growth was recorded in 2013 an increase of 17%. Global import price peaked at $4,728 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Canada ($6,100 per ton), while Democratic Republic of the Congo ($418 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+13.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Table, Kitchen Or Household Articles Of Cast Iron

After three years of growth, shipments abroad of table, kitchen or household articles of cast iron decreased by -9.6% to 242K tons in 2022. Overall, total exports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +4.2% 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 +63.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35%. As a result, the exports attained the peak of 267K tons, and then declined in the following year.

In value terms, cast iron household articles exports fell to $1.1B in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +73.7% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29% against the previous year. As a result, the exports reached the peak of $1.2B, and then dropped in the following year.

Exports By Country

China dominates exports structure, recording 135K tons, which was near 56% of total exports in 2022. It was distantly followed by France (23K tons), the Netherlands (17K tons) and Uzbekistan (12K tons), together generating a 21% share of total exports. Germany (9.8K tons), India (7.4K tons), Belgium (7.1K tons), Spain (6.2K tons) and the United States (4.8K tons) took a little share of total exports.

Exports from China increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, Uzbekistan (+164.9%), the Netherlands (+32.8%), Belgium (+25.4%), Germany (+20.8%), India (+14.0%) and France (+5.3%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +164.9% from 2012-2022. The United States experienced a relatively flat trend pattern. By contrast, Spain (-5.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Netherlands, Uzbekistan, Germany, Belgium and India increased by +6.2, +4.8, +3.1, +2.5 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($481M) remains the largest cast iron household articles supplier worldwide, comprising 43% of global exports. The second position in the ranking was taken by France ($165M), with a 15% share of global exports. It was followed by Germany, with a 9.6% share.

In China, cast iron household articles exports increased at an average annual rate of +2.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: France (+3.7% per year) and Germany (+25.0% per year).

Export Prices By Country

In 2022, the average cast iron household articles export price amounted to $4,626 per ton, with an increase of 4.4% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 14%. As a result, the export price reached the peak level of $4,882 per ton. From 2014 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Germany ($10,943 per ton), while Uzbekistan ($1,429 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform