Southern Asia: Pig Iron Market 2022

Pig Iron Market Size in Southern Asia

In 2021, the South Asian pig iron market decreased by -4.2% to $X for the first time since 2013, thus ending a seven-year rising trend. The total consumption indicated a buoyant expansion 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, consumption increased by +98.3% against 2013 indices. Over the period under review, the market reached the peak level at $X in 2020, and then fell in the following year.

Pig Iron Production in Southern Asia

In value terms, pig iron production reduced to $X in 2021 estimated in export price. The total production indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 +132.2% against 2013 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 54%. Over the period under review, production attained the maximum level at $X in 2020, and then contracted modestly in the following year.

Pig Iron Exports

Exports in Southern Asia

In 2021, overseas shipments of pig iron and spiegeleisen increased by 82% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, showed a noticeable slump. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, pig iron exports skyrocketed to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from India (X tons), together recording 99.9% of total export.

India was also the fastest-growing in terms of the pig iron and spiegeleisen exports, with a CAGR of -4.3% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, India ($X) also remains the largest pig iron supplier in Southern Asia.

From 2012 to 2021, the average annual rate of growth in terms of value in India was relatively modest.

Export Prices by Country

In 2021, the export price in Southern Asia amounted to $X per ton, jumping by 93% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +3.5% per year.

Pig Iron Imports

Imports in Southern Asia

In 2021, supplies from abroad of pig iron and spiegeleisen was finally on the rise to reach X tons after four years of decline. In general, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 42%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, pig iron imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a temperate expansion. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Nepal (X tons), Pakistan (X tons) and India (X tons) was the major importer of pig iron and spiegeleisen in Southern Asia, creating 81% of total import. Bhutan (X tons) held the next position in the ranking, followed by Bangladesh (X tons) and Nepal (X tons). All these countries together held near 41% share of total imports. Sri Lanka (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Nepal (with a CAGR of +47.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest pig iron importing markets in Southern Asia were India ($X), Nepal ($X) and Pakistan ($X), together comprising 83% of total imports.

Among the main importing countries, Nepal, with a CAGR of +52.2%, recorded 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 import price in Southern Asia amounted to $X per ton, jumping by 38% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. 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, the country with the highest price was Sri Lanka ($X per ton), while Bhutan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nepal (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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