SADC: Pig Iron Articles Market 2024

Pig Iron Articles Market Size in SADC

In 2021, after two years of growth, there was decline in the SADC pig iron articles market, when its value decreased by -0.9% to $X. The total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.3% 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 +5.0% against 2018 indices. The level of consumption peaked at $X in 2020, and then declined slightly in the following year.

Pig Iron Articles Production in SADC

In value terms, pig iron articles production reduced modestly to $X in 2021 estimated in export price. In general, production saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 34% against the previous year. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Pig Iron Articles Exports

Exports in SADC

In 2021, shipments abroad of granules and powders of pig iron decreased by -39% to X tons, falling for the fourth consecutive year after two years of growth. In general, exports showed a abrupt setback. The growth pace was the most rapid in 2017 when exports increased by 222%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, pig iron articles exports reduced to $X in 2021. Over the period under review, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2017 when exports increased by 313% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

South Africa (X tons) represented roughly 100% of total exports in 2021.

South Africa was also the fastest-growing in terms of the granules and powders of pig iron exports, with a CAGR of -13.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) also remains the largest pig iron articles supplier in SADC.

From 2012 to 2021, the average annual rate of growth in terms of value in South Africa totaled -10.1%.

Export Prices by Country

In 2021, the export price in SADC amounted to $X per ton, jumping by 45% against the previous year. Export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pig iron articles export price increased by +56.7% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for South Africa.

From 2012 to 2021, the rate of growth in terms of prices for South Africa amounted to +3.7% per year.

Pig Iron Articles Imports

Imports in SADC

In 2021, supplies from abroad of granules and powders of pig iron increased by 71% to X tons, rising for the second year in a row after two years of decline. Total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +9.1% 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 +99.6% against 2019 indices. 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. Total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +61.3% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Africa dominates imports structure, finishing at X tons, which was approx. 85% of total imports in 2021. It was distantly followed by Mozambique (X tons), achieving a 5.1% share of total imports. The following importers - Lesotho (X tons), Angola (X tons) and Tanzania (X tons) - each reached a 5.9% share of total imports.

South Africa was also the fastest-growing in terms of the granules and powders of pig iron imports, with a CAGR of +11.7% from 2012 to 2021. At the same time, Lesotho (+11.4%), Tanzania (+6.9%) and Angola (+4.5%) displayed positive paces of growth. By contrast, Mozambique (-1.3%) illustrated a downward trend over the same period. South Africa (+16 p.p.) significantly strengthened its position in terms of the total imports, while Mozambique saw its share reduced by -7.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported granules and powders of pig iron in SADC, comprising 79% of total imports. The second position in the ranking was taken by Lesotho ($X), with a 7% share of total imports. It was followed by Mozambique, with a 5.3% share.

In South Africa, pig iron articles imports increased at an average annual rate of +5.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Lesotho (+15.1% per year) and Mozambique (+1.6% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2021, shrinking by -7.5% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2017 when the import price increased by 17% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lesotho (+3.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform