U.S. Merchant Pig Iron Market 2022-2030 Future Outlook

The Global Merchant Pig Iron Market Report is a compilation of comprehensive research studies of various aspects of the Merchant Pig Iron Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Merchant Pig Iron market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Merchant Pig Iron market and how they will evolve in the years to come.

Read Detailed Index of full Research Study @ https://www.absolutemarketsinsights.com/reports/Global-Merchant-Pig-Iron-market-2019-2027-446

Global merchant pig iron market was valued at US$ 58,897.6 Million in 2022 and is expected to reach US$ 124,179.0 Million by 2030, growing at an estimated CAGR of 8.7% over the forecast period.. Key Players: Baosteel Co.,Ltd., Benxi steel group, Cleveland-Cliffs Inc., Donetsk metallurgical plant, Industrial Metallurgical Holding, KOBE Steel Ltd., Severstal, Tata Metaliks Limited , Maritime Iron, Metalloinvest MC LLC, Metinvest, DXC Technology

It has high carbon content typically 3.5%-4.5% along with small percentage of sulphur, manganese, phosphorous and silicon. This property makes merchant pig iron brittle and only useful for resmelting to make cast iron, wrought iron or, nowadays, steel. Merchant pig iron cast into ingots and is sold to third parties as feedstock to ferrous casting and steel industries. It has been widely used in numerous industries since the time of industrial revolution and impacting day to day lives even today. Steel plays a crucial role in the growth of any economy as it is used in infrastructural development. Robust demand for steel is one of the biggest driving factors for the merchant pig iron market. Steel is an important material for shipbuilding, car manufacturing, building construction industrial equipment manufacturing and other manufacturing industries.

Pig iron plays a key role in the production of steel. Pig iron manufacturers play a crucial role in the growth of the steel industry and as the demand for steel increases in different industries it has boosted the growth of merchant pig iron market in the recent past and is expected to continue the same trend over the forecast period. The applications of pig iron are extensively found in the manufacture of cast iron components in the automotive, energy, and engineering industries. Ductile iron casting uses pig iron molds. It aids in the depleted cost of scrap, helps in reducing storage space and enhances the final composition of casting. It is also used to produce gray iron which is achieved by remelting pig iron often along with the considerate amount of steel and scrap iron and adjusting the carbon content.

There has been continuous growth of the merchant pig iron market with an increase in demand for casting components, heavily used in both automotive and engineering industries. However, due to global supply deficit, the increasing volatility of iron ore and coking coal prices are proving to be a major burden for steel producers and merchant pig iron manufacturers globally. Increasing prices of iron ore is expected to be major restraint for the market growth of merchant pig iron. With aging coking facilities and increased environmental regulations, coke making has become a liability for developed countries. There has been newer ways for the production of merchant pig iron which are more cost effective in nature. Decreasing both the coke and the overall fuel rate has been major focus in the recent developments. Most of the new large capacity blast furnace have extremely effective chemical reactors that are capable of stable operation with an impressive range of reactant feed. This is going to be helpful in further growth of merchant pig iron and fulfill the demand at cost efficient rates. It has been duly reported that Stelco plans to construct a merchant pig iron facility in Hamilton, Ontario.

This facility will be constructed alongside its blast furnace mills. They will begin sales by the third quarter of 2020. In 2019, it has been reported that Neelachal Ispat Nigam Ltd (NINL) who is a public sector steel entity and merchant supplier of steel grade pig iron is battling with issues related to raw material crisis. The company is battling hard to buy iron ore on its own to feed the plant after MMTC. The latter is the promoter of the former that stopped supplying the raw material. Primarily, MMTC buys iron ore from the open market to feed the NINL plant at Kalinganagar (Odisha). MMTC also sells finished products manufactured at the plant. For all such buying and selling operations MMTC is entitled to a commission of 3%.  Petmin USA Incorporated focused on the construction and development of 425,000 tonnes per annum Nodular Pig Iron manufacturing facility located in a port terminal in the United States (Ohio). The Nodular pig Iron was destined for sales in European and United States markets.

Global Merchant Pig Iron Market:

  • By Type
    • Basic Pig Iron
    • Foundry Pig Iron
    • High Purity Pig Iron
  • By Production Facility Type
    • Dedicated Merchant Plants
    • Integrated Steel Mills
  • By End User
    • Engineering and Industrial
    • Automobile
    • Railways
    • Agriculture and Tractor
    • Power Generation
    • Pipes and Fittings
    • Sanitary and Decorative
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Norway
        • Sweden
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxemburg
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America

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