Ireland: Pig Iron Market 2022

Pig Iron Market Size in Ireland

The Irish pig iron market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption, however, faced a deep contraction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Pig Iron Production in Ireland

In value terms, pig iron production totaled $X in 2021 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the production volume increased by 20% against the previous year. Pig iron production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Pig Iron Exports

Exports from Ireland

Pig iron exports from Ireland shrank significantly to X tons in 2021, reducing by -28.3% on the previous year's figure. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 3,156% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, pig iron exports shrank to $X in 2021. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2016 with an increase of 3,379% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The UK (X tons) and the United States (X tons) were the main destinations of pig iron exports from Ireland.

From 2012 to 2021, the biggest increases were in the UK (with a CAGR of +47.8%).

In value terms, the UK ($X) remains the key foreign market for pig iron exports from Ireland, comprising 78% of total exports. The second position in the ranking was held by the United States ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the UK totaled +47.9%.

Export Prices by Country

The average pig iron export price stood at $X per ton in 2021, jumping by 31% against the previous year. Overall, the export price showed a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 69% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the UK ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.9%).

Pig Iron Imports

Imports into Ireland

In 2021, after two years of decline, there was significant growth in overseas purchases of pig iron and spiegeleisen, when their volume increased by 921% to X tons. Over the period under review, imports, however, saw a significant curtailment. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, pig iron imports skyrocketed to $X in 2021. Overall, imports, however, saw a deep contraction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), France (X tons) and Spain (X tons) were the main suppliers of pig iron imports to Ireland, with a combined 77% share of total imports.

From 2012 to 2021, the biggest increases were in Spain (with a CAGR of +6.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of pig iron to Ireland, comprising 45% of total imports. The second position in the ranking was held by Spain ($X), with a 20% share of total imports. It was followed by France, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+11.0% per year) and France (0.0% per year).

Import Prices by Country

In 2021, the average pig iron import price amounted to $X per ton, declining by -7.2% against the previous year. Overall, the import price, however, showed resilient growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 134%. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+24.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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