World - Pig Iron And Spiegeleisen - Market Analysis, Forecast, Size, Trends and Insights
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The article discusses the increasing demand for pig iron and spiegeleisen worldwide, with the market expected to continue an upward trend in consumption and production. The market performance is forecasted to accelerate, with a projected CAGR of +3.9% from 2022 to 2030, leading to a volume of 27M tons by 2030. The highest volumes of consumption and production in 2022 were seen in countries like the United States, Brazil, and Ukraine. Global imports and exports of pig iron and spiegeleisen also saw fluctuations in value and volume over the years, with significant growth in certain countries like China and the Netherlands. Overall, the market is expected to see gradual growth in the coming years.
Market Forecast
Driven by increasing demand for pig iron and spiegeleisen 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 +3.9% for the period from 2022 to 2030, which is projected to bring the market volume to 27M tons by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +3.9% for the period from 2022 to 2030, which is projected to bring the market value to $15B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Pig Iron and Spiegeleisen
In 2022, the amount of pig iron and spiegeleisen consumed worldwide declined to 20M tons, dropping by -9.3% against 2021. Over the period under review, consumption, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the consumption volume increased by 4.3%. As a result, consumption reached the peak volume of 23M tons. From 2021 to 2022, the growth of the global consumption failed to regain momentum.
The global pig iron market revenue fell slightly to $11B 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). The market value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $11.1B, leveling off in the following year.
Consumption By Country
The countries with the highest volumes of consumption in 2022 were the United States (4.6M tons), Brazil (3.9M tons) and Ukraine (2M tons), with a combined 52% share of global consumption. Turkey, Italy, China, India, Japan and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 29%.
From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +14.5%), while consumption for the other global leaders experienced more modest paces of growth.
In value terms, the United States ($2.6B), Brazil ($2B) and Ukraine ($832M) were the countries with the highest levels of market value in 2022, together accounting for 49% of the global market. Turkey, Italy, China, India, Japan and Taiwan (Chinese) lagged somewhat behind, together accounting for a further 27%.
China, with a CAGR of +16.0%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.
In 2022, the highest levels of pig iron per capita consumption was registered in Ukraine (46 kg per person), followed by Italy (23 kg per person), Brazil (18 kg per person) and Turkey (16 kg per person), while the world average per capita consumption of pig iron was estimated at 2.6 kg per person.
From 2012 to 2022, the average annual growth rate of the pig iron per capita consumption in Ukraine stood at +3.0%. In the other countries, the average annual rates were as follows: Italy (+2.6% per year) and Brazil (-1.1% per year).
Production
World Production of Pig Iron and Spiegeleisen
Global pig iron production amounted to 22M tons in 2022, almost unchanged from the previous year. Over the period under review, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 3.1% against the previous year. As a result, production reached the peak volume of 22M tons. From 2021 to 2022, global production growth remained at a somewhat lower figure.
In value terms, pig iron production fell modestly to $10.1B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% over the period from 2012 to 2022; 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 33%. As a result, production attained the peak level of $10.4B, and then fell in the following year.
Production By Country
The countries with the highest volumes of production in 2022 were Brazil (7.6M tons), Russia (6M tons) and Ukraine (3.4M tons), with a combined 79% share of global production. India, South Africa, Japan and Canada lagged somewhat behind, together accounting for a further 15%.
From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by South Africa (with a CAGR of +1.4%), while production for the other global leaders experienced more modest paces of growth.
Imports
World Imports of Pig Iron and Spiegeleisen
In 2022, the amount of pig iron and spiegeleisen imported worldwide dropped to 13M tons, shrinking by -11.4% against 2021 figures. Over the period under review, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 21% against the previous year. As a result, imports attained the peak of 15M tons. From 2021 to 2022, the growth of global imports failed to regain momentum.
In value terms, pig iron imports reached $7.8B in 2022. Overall, imports, however, saw a noticeable increase. The pace of growth appeared the most rapid in 2021 with an increase of 46% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the near future.
Imports By Country
In 2022, the United States (4.6M tons) was the major importer of pig iron and spiegeleisen, committing 36% of total imports. It was distantly followed by China (1.4M tons), Turkey (1.4M tons), Italy (1.4M tons) and the Netherlands (0.6M tons), together constituting a 38% share of total imports. Germany (436K tons), Taiwan (Chinese) (403K tons), Mexico (279K tons), Spain (269K tons), South Korea (213K tons), the United Arab Emirates (206K tons) and Poland (199K tons) followed a long way behind the leaders.
The United States experienced a relatively flat trend pattern with regard to volume of imports of pig iron and spiegeleisen. At the same time, the Netherlands (+11.7%), China (+9.4%), the United Arab Emirates (+7.8%), Mexico (+5.0%) and Italy (+2.3%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing importer imported in the world, with a CAGR of +11.7% from 2012-2022. Turkey, Poland and Spain experienced a relatively flat trend pattern. By contrast, Germany (-3.9%), Taiwan (Chinese) (-6.3%) and South Korea (-12.8%) illustrated a downward trend over the same period. While the share of China (+6.5 p.p.), the Netherlands (+3.3 p.p.) and Italy (+1.9 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Germany (-1.8 p.p.), Taiwan (Chinese) (-3 p.p.) and South Korea (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the United States ($3B) constitutes the largest market for imported pig iron and spiegeleisen worldwide, comprising 39% of global imports. The second position in the ranking was held by China ($808M), with a 10% share of global imports. It was followed by Turkey, with a 10% share.
In the United States, pig iron imports expanded at an average annual rate of +4.4% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: China (+11.7% per year) and Turkey (+2.5% per year).
Import Prices By Country
The average pig iron import price stood at $611 per ton in 2022, rising by 13% against the previous year. Over the period under review, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pig iron import price increased by +73.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 53%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.
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 the Netherlands ($704 per ton), while Mexico ($148 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.7%), while the other global leaders experienced more modest paces of growth.
Exports
World Exports of Pig Iron and Spiegeleisen
In 2022, global pig iron exports totaled 14M tons, growing by 3.2% compared with 2021 figures. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by 20%. As a result, the exports attained the peak of 14M tons. From 2021 to 2022, the growth of the global exports remained at a lower figure.
In value terms, pig iron exports reduced to $6.2B in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 51% against the previous year. As a result, the exports attained the peak of $7B, and then declined in the following year.
Exports By Country
In 2022, Russia (5.7M tons), distantly followed by Brazil (3.7M tons), Ukraine (1.3M tons) and South Africa (0.6M tons) represented the key exporters of pig iron and spiegeleisen, together mixing up 80% of total exports. India (515K tons) and the Netherlands (460K tons) took a little share of total exports.
From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +10.2%), while shipments for the other global leaders experienced more modest paces of growth.
In value terms, Brazil ($2.4B) emerged as the largest pig iron supplier worldwide, comprising 38% of global exports. The second position in the ranking was held by Russia ($969M), with a 16% share of global exports. It was followed by Ukraine, with a 10% share.
In Brazil, pig iron exports expanded at an average annual rate of +5.8% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (-7.6% per year) and Ukraine (-1.8% per year).
Export Prices By Country
In 2022, the average pig iron export price amounted to $439 per ton, reducing by -13.9% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 57%. As a result, the export price attained the peak level of $510 per ton, and then declined in the following year.
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 Netherlands ($756 per ton), while Russia ($170 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.5%), while the other global leaders experienced more modest paces of growth.
This report provides an in-depth analysis of the global pig iron 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 24101100 - Pig iron and spiegeleisen in pigs, blocks or other primary forms
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
This report provides an in-depth analysis of the global pig iron market.
This report provides an in-depth analysis of the global iron and steel market.
Discover the leading countries in the global import market for pig iron and the factors driving their high import volumes. Gain insights into the key players and trends shaping the industry.
In 2016, the amount of pig iron imported worldwide stood at X tons, declining by -X% against the previous year figure. Overall, pig iron imports continue to indicate a drastic descent. The mos...
In 2016, the amount of pig iron imported worldwide stood at X tons, declining by -X% against the previous year figure. Overall, pig iron imports continue to indicate a drastic descent. The mos...
Discover the leading countries in the global iron and steel import market and their key statistics. Learn about the trends and factors driving the demand for these crucial materials.