Asia-Pacific: Pig Iron Articles Market 2024

Pig Iron Articles Market Size in Asia-Pacific

The Asia-Pacific pig iron articles market reduced to $X in 2021, stabilizing at the previous year. The market value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Pig Iron Articles Production in Asia-Pacific

In value terms, pig iron articles production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 20%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Pig Iron Articles Exports

Exports in Asia-Pacific

In 2021, overseas shipments of granules and powders of pig iron increased by 71% to X tons, rising for the sixth consecutive year after two years of decline. Over the period under review, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, pig iron articles exports soared to $X in 2021. Overall, exports saw buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, India (X tons) was the major exporter of granules and powders of pig iron, mixing up 62% of total exports. It was distantly followed by China (X tons), Japan (X tons) and South Korea (X tons), together comprising a 30% share of total exports. Thailand (X tons) took a relatively small share of total exports.

India was also the fastest-growing in terms of the granules and powders of pig iron exports, with a CAGR of +51.5% from 2012 to 2021. At the same time, China (+6.9%), Japan (+2.3%) and South Korea (+1.6%) displayed positive paces of growth. By contrast, Thailand (-3.0%) illustrated a downward trend over the same period. While the share of India (+57 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of South Korea (-9.5 p.p.), Thailand (-10.5 p.p.), China (-10.8 p.p.) and Japan (-14.7 p.p.) displayed negative dynamics.

In value terms, the largest pig iron articles supplying countries in Asia-Pacific were Japan ($X), India ($X) and China ($X), together comprising 79% of total exports.

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

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, waning by -15.3% against the previous year. Over the period under review, the export price saw a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of 15% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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 leaders experienced more modest paces of growth.

Pig Iron Articles Imports

Imports in Asia-Pacific

After two years of decline, purchases abroad of granules and powders of pig iron increased by 43% to X tons in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.8% 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.

In value terms, pig iron articles imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, 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

In 2021, Malaysia (X tons), China (X tons) and South Korea (X tons) was the major importer of granules and powders of pig iron in Asia-Pacific, comprising 50% of total import. Bangladesh (X tons) held a 9.9% share (based on physical terms) of total imports, which put it in second place, followed by Japan (9.3%), India (8.2%), Taiwan (Chinese) (7.9%) and Thailand (4.9%).

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 leaders experienced more modest paces of growth.

In value terms, the largest pig iron articles importing markets in Asia-Pacific were China ($X), Japan ($X) and South Korea ($X), together comprising 61% of total imports. Taiwan (Chinese), India, Thailand, Bangladesh and Malaysia lagged somewhat behind, together accounting for a further 29%.

Among 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 leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, with an increase of 4.8% against the previous year. In general, the import price, however, showed a slight contraction. The growth pace was the most rapid in 2018 an increase of 6.9%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 leaders experienced more modest paces of growth.

Source: IndexBox Platform