Eastern Asia: Pig Iron Articles Market 2025

Pig Iron Articles Market Size in Eastern Asia

In 2021, after two years of decline, there was growth in the East Asian pig iron articles market, when its value increased by 2.1% to $X. The market value increased at an average annual rate of +4.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked in 2021 and is likely to see gradual growth in the near future.

Pig Iron Articles Production in Eastern Asia

In value terms, pig iron articles production contracted slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when the production volume increased by 22%. Over the period under review, production reached the peak level at $X in 2020, and then dropped slightly in the following year.

Pig Iron Articles Exports

Exports in Eastern Asia

In 2021, shipments abroad of granules and powders of pig iron increased by 8.1% to X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -15.0% against 2018 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 20%. Over the period under review, the exports reached the peak figure at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, pig iron articles exports skyrocketed to $X in 2021. Total exports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, 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.

Exports by Country

China represented the major exporting country with an export of around X tons, which amounted to 48% of total exports. It was distantly followed by Japan (X tons) and South Korea (X tons), together mixing up a 47% share of total exports. Taiwan (Chinese) (X tons) held a minor share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +6.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest pig iron articles supplying countries in Eastern Asia were Japan ($X), China ($X) and South Korea ($X), together comprising 92% of total exports.

Among the main exporting countries, China, with a CAGR of +9.5%, saw the highest growth rate of the value of exports, 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 Eastern Asia amounted to $X per ton, with an increase of 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2014 an increase of 17%. Over the period under review, the export prices reached the peak figure in 2021 and is likely to see steady growth in the near future.

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 ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+10.4%), while the other leaders experienced more modest paces of growth.

Pig Iron Articles Imports

Imports in Eastern Asia

In 2021, purchases abroad of granules and powders of pig iron increased by 29% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, pig iron articles imports surged to $X in 2021. The total import value increased at an average annual rate of +4.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons) and South Korea (X tons) represented roughly 65% of total imports in 2021. Japan (X tons) held the next position in the ranking, followed by Taiwan (Chinese) (X tons). All these countries together held approx. 35% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of +5.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pig iron articles importing markets in Eastern Asia were China ($X), Japan ($X) and South Korea ($X), together accounting for 84% of total imports.

In terms of the main importing countries, China, with a CAGR of +6.6%, saw the highest rates of growth with regard to 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 Eastern Asia amounted to $X per ton, increasing by 12% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. As a result, import 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 importing countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per ton), while South Korea ($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