Northern America: Pig Iron Articles Market 2024

Pig Iron Articles Market Size in Northern America

The North American pig iron articles market stood at $X in 2021, growing by 3.1% against the previous year. The total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +4.7% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2018; afterwards, it flattened through to 2021.

Pig Iron Articles Production in Northern America

In value terms, pig iron articles production stood at $X in 2021 estimated in export price. The total production indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -11.5% against 2018 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 20%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Pig Iron Articles Exports

Exports in Northern America

In 2021, overseas shipments of granules and powders of pig iron increased by 8.9% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 12%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, pig iron articles exports soared to $X in 2021. The total export value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States was the key exporting country with an export of around X tons, which accounted for 58% of total exports. It was distantly followed by Canada (X tons), creating a 42% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Canada (with a CAGR of +1.8%).

In value terms, the largest pig iron articles supplying countries in Northern America were the United States ($X) and Canada ($X).

In terms of the main exporting countries, Canada, with a CAGR of +2.9%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, with an increase of 28% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.7%).

Pig Iron Articles Imports

Imports in Northern America

After three years of growth, purchases abroad of granules and powders of pig iron decreased by -38.2% to X tons in 2021. In general, imports recorded a perceptible slump. The pace of growth appeared the most rapid in 2019 when imports increased by 28% against the previous year. The volume of import peaked at X tons in 2020, and then plummeted in the following year.

In value terms, pig iron articles imports soared to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) represented the major importer of granules and powders of pig iron, achieving 78% of total imports. It was distantly followed by Canada (X tons), comprising a 22% share of total imports.

The United States was also the fastest-growing in terms of the granules and powders of pig iron imports, with a CAGR of -1.4% from 2012 to 2021. Canada (-10.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +19 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported granules and powders of pig iron in Northern America, comprising 85% of total imports. The second position in the ranking was taken by Canada ($X), with a 15% share of total imports.

In the United States, pig iron articles imports increased at an average annual rate of +1.9% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, rising by 123% against the previous year. Import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+13.6%).

Source: IndexBox Platform