India: Pig Iron Articles Market 2025

Pig Iron Articles Market Size in India

The Indian pig iron articles market dropped dramatically to $X in 2021, falling by -32.7% against the previous year. Over the period under review, the total consumption indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Pig iron articles consumption peaked at $X in 2020, and then reduced rapidly in the following year.

Pig Iron Articles Production in India

In value terms, pig iron articles production reduced to $X in 2021 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +81.8% against 2012 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 27%. Over the period under review, production attained the maximum level at $X in 2020, and then fell in the following year.

Pig Iron Articles Exports

Exports from India

For the fifth consecutive year, India recorded growth in overseas shipments of granules and powders of pig iron, which increased by 160% to X tons in 2021. Over the period under review, exports recorded a significant increase. The growth pace was the most rapid in 2020 with an increase of 183% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, pig iron articles exports soared to $X in 2021. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 124%. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The United States (X tons) was the main destination for pig iron articles exports from India, accounting for a 46% share of total exports. Moreover, pig iron articles exports to the United States exceeded the volume sent to the second major destination, Bangladesh (X tons), threefold. Italy (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +116.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+145.6% per year) and Italy (+230.2% per year).

In value terms, the United States ($X) emerged as the key foreign market for granules and powders of pig iron exports from India, comprising 46% of total exports. The second position in the ranking was held by Bangladesh ($X), with a 17% share of total exports. It was followed by Italy, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +89.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (+117.0% per year) and Italy (+153.7% per year).

Export Prices by Country

The average pig iron articles export price stood at $X per ton in 2021, dropping by -22.2% against the previous year. Over the period under review, the export price saw a abrupt decline. The growth pace was the most rapid in 2014 an increase of 26% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Japan (+0.4%), while the prices for the other major destinations experienced a decline.

Pig Iron Articles Imports

Imports into India

In 2021, purchases abroad of granules and powders of pig iron increased by 66% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, pig iron articles imports soared to $X in 2021. Overall, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), China (X tons) and Thailand (X tons) were the main suppliers of pig iron articles imports to India, with a combined 48% share of total imports. Germany, Spain, Taiwan (Chinese), Sweden, the United States, South Korea, Russia, Italy, Canada and Turkey lagged somewhat behind, together accounting for a further 46%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +40.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pig iron articles suppliers to India were China ($X), Germany ($X) and France ($X), with a combined 40% share of total imports. The United States, Thailand, Sweden, Spain, Italy, Taiwan (Chinese), Russia, Canada, South Korea and Turkey lagged somewhat behind, together accounting for a further 36%.

In terms of the main suppliers, Russia, with a CAGR of +49.2%, 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

The average pig iron articles import price stood at $X per ton in 2021, approximately equating the previous year. In general, the import price showed a slight decrease. The pace of growth appeared the most rapid in 2018 an increase of 8.7%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform