Finland: Pig Iron Articles Market 2025

Pig Iron Articles Market Size in Finland

The Finnish pig iron articles market skyrocketed to $X in 2021, picking up by 17% 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 +4.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Pig Iron Articles Exports

Exports from Finland

In 2021, the amount of granules and powders of pig iron exported from Finland contracted sharply to X tons, waning by -23.9% compared with the previous year's figure. Overall, exports, however, posted resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 127% against the previous year. The exports peaked at X tons in 2020, and then shrank remarkably in the following year.

In value terms, pig iron articles exports skyrocketed to $X in 2021. Over the period under review, exports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of 90%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons), China (X tons) and the UK (X tons) were the main destinations of pig iron articles exports from Finland, together accounting for 86% of total exports. Sweden, the United States and Lithuania lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were recorded for the United States (with a CAGR of +87.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for granules and powders of pig iron exports from Finland, comprising 83% of total exports. The second position in the ranking was held by the United States ($X), with a 9.6% share of total exports. It was followed by China, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value to Germany stood at +16.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+90.6% per year) and China (+17.7% per year).

Export Prices by Country

The average pig iron articles export price stood at $X per ton in 2021, with an increase of 64% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+73.5%), while the prices for the other major destinations experienced mixed trend patterns.

Pig Iron Articles Imports

Imports into Finland

In 2021, the amount of granules and powders of pig iron imported into Finland expanded significantly to X tons, picking up by 11% compared with the previous year. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of 20%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, pig iron articles imports soared to $X in 2021. Over the period under review, total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +71.1% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 42% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, Germany (X tons) constituted the largest pig iron articles supplier to Finland, accounting for a 34% share of total imports. Moreover, pig iron articles imports from Germany exceeded the figures recorded by the second-largest supplier, Russia (X tons), twofold. The third position in this ranking was held by Spain (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+54.5% per year) and Spain (+6.4% per year).

In value terms, China ($X), Germany ($X) and the UK ($X) constituted the largest pig iron articles suppliers to Finland, with a combined 78% share of total imports. Russia, Sweden, Ukraine, Brazil, Spain and Italy lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, Russia, with a CAGR of +54.7%, 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 average pig iron articles import price amounted to $X per ton, growing by 5.3% against the previous year. Over the period under review, import price indicated a resilient increase from 2012 to 2021: its price increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron articles import price increased by +93.9% against 2017 indices. The most prominent rate of growth was recorded in 2018 an increase of 68%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+39.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform