By 2027, the global commercial pig iron market is expected to achieve a compound annual growth rate of 8.7% and reach USD 12.479 billion: facts and factors

New York, New York, March 17, 2021 (Global News)-Facts and Factors released a new research report titled "By Type (Basic, High Purity and Casting) by Type of Production Facility (Dedicated Merchant Factory) The proportions of the merchant pig iron market) and integrated steel mills) and end users (engineering and industry, automobiles, railways, agriculture and tractors, power generation, pipes and fittings, sanitation and decoration, etc.): global industry perspectives, comprehensive analysis and forecasts , 2018-2027".
"According to the research report, the global commercial pig iron market is estimated at 58.897 billion U.S. dollars in 2018 and is expected to reach 12.479 billion U.S. dollars by 2027. The global commercial pig iron market is expected to grow at a compound annual growth rate (CAGR) from 2020 to 2026. 8.7%".
Pig iron is solidified by a pig iron casting machine to produce high-heat metal in block form. It is used to make castings. Castings are mainly used in the engineering field. Pig iron is mostly found in foundries. It contains 2% Si and 4% C. White pig iron is formed due to the combined form of carbon and is light in color. The free form of carbon contributes to gray pig iron. In addition, pig iron is not used for welding purposes because it is neither ductile nor ductile. Therefore, it can be used for wrought iron, pudding furnace and steel. An intermediate product was further developed to provide finer metals or refined pig iron. Three types of pig iron are currently available on the market: basic pig iron, cast iron and high purity pig iron.
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The main growth driver of the commercial pig iron market is the growing demand for pig iron from the engineering and automotive industries to manufacture various castings. The application of pig iron is widely used in the manufacturing of castings in the automotive, energy and engineering industries. Nodular cast iron uses pig iron molds. It helps reduce scrap costs, helps reduce storage space, and improves the final composition of castings. In addition, the increasing demand for steel worldwide has also promoted the pig iron market, and pig iron is its main raw material.
The major players operating in the commercial pig iron market include Baosteel, Benxi Steel, Cleveland-Cliffs, Donetsk Metallurgical Plant, Kobe Steel, Tata Metals, Maritime Steel, Metinvest, DXC Technology, Metalloinvest MC, Severstal and Industrial Metallurgical Holdings, etc.
In 2018, the field of basic pig iron systems accounted for more than 48.89% of the commercial pig iron market. As it is the main raw material for global steel manufacturing, its compound annual growth rate is estimated to reach 8.5% within the forecast period.
In the commercial pig iron market, the dedicated commercial factory sector will be the fastest growing part in the future. Due to the increasing demand for industrial and commercial pig iron and the increasing demand for the production of various castings in the engineering and automotive industries, it will achieve a compound annual growth rate of 9.4% within the estimated time period.
By segmenting according to type, type of production facility, end user, and region, the research provides a decisive view of the merchant pig iron market. All market segments are analyzed based on current and future trends, and the market from 2019 to 2027 is estimated.
The most important growth factor driving the blast furnace pig iron market is the growth rate of steel production in the blast furnace. The demand for steel is high, especially in cities, which has led to an increasing demand for pig iron. It is cast into ingots. These ingots are then sold to companies and industries that use them as raw materials for black cast iron and steel. In addition, the commercial pig iron market is also driven by the growing demand for casting products widely used in the engineering and automotive industries. By type, the market is divided into high purity, cast and basic pig iron. According to the types of production facilities, the market is divided into specialized merchant factories and integrated steel mills. End users include automobiles, engineering and industry, pipes and fittings, sanitation and decoration, power generation, agriculture and tractors, railways, etc.
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The Asia-Pacific region is the fastest growing market for pig iron trade and will grow at a compound annual growth rate of 9.8% in the future. This can be attributed to the continuous technological advancement in the region, the changing market trends in the end-user industry of pig iron, the increasing affluence of raw materials and the increasing population.
Browse the complete "Commercial pig iron market by type (basic, high-purity and foundry), by type of production facility (dedicated merchant factories and integrated steel mills) and end users (engineering and industry, automobiles, railways, agriculture and agriculture) commercial pig iron market" tractors , Power generation, pipes and accessories, sanitation and decoration and others): "Global Industry Perspectives, Comprehensive Analysis and Forecasts, 2018-2027" report, available at
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