Global High Purity Pig Iron Market Professional Survey by Types, Applications, and Players, with Regional Growth Rate Analysis and Development Situation, from 2023 to 2028
According to the latest research, the global High Purity Pig Iron market size was valued at USD 4439.54 million in 2022 and is expected to expand at a CAGR of 8.5% during the forecast period, reaching USD 7243.5 million by 2028.
High Purity Pig Iron is a special iron for high-end castings with low content of phosphorus, sulfur, manganese, titanium and other harmful impurity elements and very little content of specific trace elements.
More than 6.2 million people have died from COVID-19 globally since the outbreak began, and the death toll continues to rise. At present, the global economy continues to recover, but due to supply chain disruptions, the uncertainty of the epidemic has increased, the uncertainty of global economic recovery has increased, and the recovery momentum has weakened. It's the worst global recession in decades, despite huge efforts by governments to fight it, backed by fiscal and monetary policy. But in the longer term, a severe recession triggered by the pandemic is expected to lead to a prolonged downturn in the economy by reducing investment. The recession could get worse if the COVID-19 outbreak continues, if restrictions on liquidity are extended or reintroduced, or if economic activity is disrupted for a prolonged period. Businesses may struggle to service debt, increased risk aversion could lead to higher borrowing costs, and bankruptcies and defaults could lead to financial crises in many countries.
The outbreak has had a complex impact on the High Purity Pig Iron industry. First, for the High Purity Pig Iron industry, the outbreak has had an impact on the production plans of companies in the High Purity Pig Iron industry. Due to the outbreak of the COVID-19 outbreak, the iron ore mining industry operations have been affected and mining activities have decreased, thus affecting the production of iron ore. This could lead to disruptions in the supply of raw materials for the High Purity Pig Iron industry, affecting the company's production plans. On the other hand, due to the impact of the new crown pneumonia epidemic, in order to prevent the further spread of the epidemic, the government issued restrictions on personnel travel and related isolation policies, which reduced the management efficiency of enterprises in the industry and affected the company's production plan. At the same time, due to the disruption of the global supply chain caused by the epidemic, the vast majority of the world's manufacturing industries have been affected, such as automobile manufacturing, nuclear power, hydropower and other industries have been greatly affected, and production plans have been delayed. Therefore, these industries have reduced demand for high-quality iron castings, including various crankshafts, bearings, gearboxes, etc. As a result, the demand for High Purity Pig Iron has decreased.
Increased market demand for vermicular graphite iron castings
Vermicular graphite iron is a new type of cast iron material. Compared with ordinary gray cast iron and aluminum alloy, compacted graphite iron has at least 75% higher tensile strength, 45% higher elastic modulus and almost double the fatigue strength. Compacted graphite iron has been widely used in various industrial sectors. For example, compacted graphite iron is used to make exhaust manifolds and turbocharger housings, cylinder heads, bases, brackets and couplings for large stationary and industrial power engines, ingot molds, automotive cylinder blocks, bases, brackets and couplings, truck brake drums, pump housings and hydraulic components, etc. For high quality compacted graphite iron castings, companies usually use High Purity Pig Iron to guarantee the required performance. As the market demand for compacted graphite iron castings increases, the demand for High Purity Pig Iron will increase. This will be one of the driving factors driving the development of the industry.
Fluctuations in raw material prices
The main raw materials required for the production of the company are iron ore, coke, etc., of which iron ore is one of the main raw materials produced by the company. The supply of major raw materials and the risk of price fluctuations will have a material adverse impact on the company's continued profitability. The industry characteristics of High Purity Pig Iron manufacturers make them dependent on major suppliers for raw material procurement. Adverse changes in the company's partnership with these key suppliers, or adverse changes in the operations and financial conditions of key suppliers, may result in the company's inability to procure regular quantities in a timely and sufficient manner. At the same time, price fluctuations of raw materials will also have an impact on the company's production costs. If the price of raw materials increases, the production cost of High Purity Pig Iron will rise, reducing the profit margin of the product. The company's production and operation plan will be adjusted. All in all, price volatility of raw materials is one of the risks faced by companies in the industry.
Region Overview:
In 2022, the share of the High Purity Pig Iron market in China stood at 41.12%.
Company Overview:
Hebei Long Feng Shan Casting Industry Co., Ltd is one of the major players operating in the High Purity Pig Iron market, holding a share of 26.35% in 2023.
Hebei Long Feng Shan Casting Industry Co., Ltd
Hebei Long Feng Shan Casting Industry Co., Ltd is a "national high-tech enterprise" specializing in the research, development and production of high-end iron-based new materials for casting. The company has two 800m3 blast furnaces and the "professional production of high-purity pig iron" supporting equipment recognized by the Ministry of Industry and Information Technology of the People's Republic of China, as well as two sets of international leading molten iron refining and purification equipment.
China Hanking
China Hanking is a national high-tech enterprise. China Hanking is the largest supplier in China's wind power ductile iron market. The business scope includes gold mines, iron mines, high-purity iron, and green building materials.
Segmentation Overview:
By type, Ordinary Type segment accounted for the largest share of market in 2022.
Ordinary Type
In this report, Ordinary Type refers to C between 3.3% and 4.7%, 0.50%
Special Type
In this report, Special Type means that C is between 3.3% and 4.7%, Si?0.50%, Mn?0.05%, P?0.02%, S?0.015%.
Application Overview:
The market's largest segment by application is the segment Foundry, with a market share of 97.59% in 2022.
Foundry
Differentiate according to downstream users. Mainly used in foundries. It melts the High Purity Pig Iron, pours the High Purity Pig Iron into some kind of mold, and once it solidifies, takes the casting out of the mold, and processes it in various ways until it becomes a finished product.
This report elaborates on the market size, market characteristics, and market growth of the High Purity Pig Iron industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of High Purity Pig Iron. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global High Purity Pig Iron Market Report Include:
Market Size Estimates: High Purity Pig Iron market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: High Purity Pig Iron market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the High Purity Pig Iron market
Segment Market Analysis: High Purity Pig Iron market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: High Purity Pig Iron market situations and prospects in major and top regions and countries
High Purity Pig Iron Market
High Purity Pig Iron Industry Chain: High Purity Pig Iron market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
High Purity Pig Iron Industry News, Policies by regions
High Purity Pig Iron Industry Porters Five Forces Analysis
Key players in the global High Purity Pig Iron market are covered in Chapter 2:
China Hanking
Rio Tinto Group
Kobe Steel
Eramet
Benxi Shentie Iron (Group) Co.,Ltd.
Hebei Long Feng Shan Casting Industry Co., Ltd
In Chapter 6 and Chapter 9, on the basis of types, the High Purity Pig Iron market from 2018 to 2028 is primarily split into:
Ordinary Type
Special Type
In Chapter 7 and Chapter 10, on the basis of applications, the High Purity Pig Iron market from 2018 to 2028 covers:
Foundry
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global High Purity Pig Iron market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the High Purity Pig Iron industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of High Purity Pig Iron market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the High Purity Pig Iron industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on High Purity Pig Iron market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the High Purity Pig Iron market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed High Purity Pig Iron market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
2022
High Purity Pig Iron is a special iron for high-end castings with low content of phosphorus, sulfur, manganese, titanium and other harmful impurity elements and very little content of specific trace elements.
More than 6.2 million people have died from COVID-19 globally since the outbreak began, and the death toll continues to rise. At present, the global economy continues to recover, but due to supply chain disruptions, the uncertainty of the epidemic has increased, the uncertainty of global economic recovery has increased, and the recovery momentum has weakened. It's the worst global recession in decades, despite huge efforts by governments to fight it, backed by fiscal and monetary policy. But in the longer term, a severe recession triggered by the pandemic is expected to lead to a prolonged downturn in the economy by reducing investment. The recession could get worse if the COVID-19 outbreak continues, if restrictions on liquidity are extended or reintroduced, or if economic activity is disrupted for a prolonged period. Businesses may struggle to service debt, increased risk aversion could lead to higher borrowing costs, and bankruptcies and defaults could lead to financial crises in many countries.
The outbreak has had a complex impact on the High Purity Pig Iron industry. First, for the High Purity Pig Iron industry, the outbreak has had an impact on the production plans of companies in the High Purity Pig Iron industry. Due to the outbreak of the COVID-19 outbreak, the iron ore mining industry operations have been affected and mining activities have decreased, thus affecting the production of iron ore. This could lead to disruptions in the supply of raw materials for the High Purity Pig Iron industry, affecting the company's production plans. On the other hand, due to the impact of the new crown pneumonia epidemic, in order to prevent the further spread of the epidemic, the government issued restrictions on personnel travel and related isolation policies, which reduced the management efficiency of enterprises in the industry and affected the company's production plan. At the same time, due to the disruption of the global supply chain caused by the epidemic, the vast majority of the world's manufacturing industries have been affected, such as automobile manufacturing, nuclear power, hydropower and other industries have been greatly affected, and production plans have been delayed. Therefore, these industries have reduced demand for high-quality iron castings, including various crankshafts, bearings, gearboxes, etc. As a result, the demand for High Purity Pig Iron has decreased.
Increased market demand for vermicular graphite iron castings
Vermicular graphite iron is a new type of cast iron material. Compared with ordinary gray cast iron and aluminum alloy, compacted graphite iron has at least 75% higher tensile strength, 45% higher elastic modulus and almost double the fatigue strength. Compacted graphite iron has been widely used in various industrial sectors. For example, compacted graphite iron is used to make exhaust manifolds and turbocharger housings, cylinder heads, bases, brackets and couplings for large stationary and industrial power engines, ingot molds, automotive cylinder blocks, bases, brackets and couplings, truck brake drums, pump housings and hydraulic components, etc. For high quality compacted graphite iron castings, companies usually use High Purity Pig Iron to guarantee the required performance. As the market demand for compacted graphite iron castings increases, the demand for High Purity Pig Iron will increase. This will be one of the driving factors driving the development of the industry.
Fluctuations in raw material prices
The main raw materials required for the production of the company are iron ore, coke, etc., of which iron ore is one of the main raw materials produced by the company. The supply of major raw materials and the risk of price fluctuations will have a material adverse impact on the company's continued profitability. The industry characteristics of High Purity Pig Iron manufacturers make them dependent on major suppliers for raw material procurement. Adverse changes in the company's partnership with these key suppliers, or adverse changes in the operations and financial conditions of key suppliers, may result in the company's inability to procure regular quantities in a timely and sufficient manner. At the same time, price fluctuations of raw materials will also have an impact on the company's production costs. If the price of raw materials increases, the production cost of High Purity Pig Iron will rise, reducing the profit margin of the product. The company's production and operation plan will be adjusted. All in all, price volatility of raw materials is one of the risks faced by companies in the industry.
Region Overview:
In 2022, the share of the High Purity Pig Iron market in China stood at 41.12%.
Company Overview:
Hebei Long Feng Shan Casting Industry Co., Ltd is one of the major players operating in the High Purity Pig Iron market, holding a share of 26.35% in 2023.
Hebei Long Feng Shan Casting Industry Co., Ltd
Hebei Long Feng Shan Casting Industry Co., Ltd is a "national high-tech enterprise" specializing in the research, development and production of high-end iron-based new materials for casting. The company has two 800m3 blast furnaces and the "professional production of high-purity pig iron" supporting equipment recognized by the Ministry of Industry and Information Technology of the People's Republic of China, as well as two sets of international leading molten iron refining and purification equipment.
China Hanking
China Hanking is a national high-tech enterprise. China Hanking is the largest supplier in China's wind power ductile iron market. The business scope includes gold mines, iron mines, high-purity iron, and green building materials.
Segmentation Overview:
By type, Ordinary Type segment accounted for the largest share of market in 2022.
Ordinary Type
In this report, Ordinary Type refers to C between 3.3% and 4.7%, 0.50%
Special Type
In this report, Special Type means that C is between 3.3% and 4.7%, Si?0.50%, Mn?0.05%, P?0.02%, S?0.015%.
Application Overview:
The market's largest segment by application is the segment Foundry, with a market share of 97.59% in 2022.
Foundry
Differentiate according to downstream users. Mainly used in foundries. It melts the High Purity Pig Iron, pours the High Purity Pig Iron into some kind of mold, and once it solidifies, takes the casting out of the mold, and processes it in various ways until it becomes a finished product.
This report elaborates on the market size, market characteristics, and market growth of the High Purity Pig Iron industry between the year 2018 to 2028, and breaks down according to the product type, downstream application, and consumption area of High Purity Pig Iron. The report also introduces players in the industry from the perspective of the value chain and looks into the leading companies.
Key Points this Global High Purity Pig Iron Market Report Include:
Market Size Estimates: High Purity Pig Iron market size estimation in terms of revenue and sales from 2018-2028
Market Dynamic and Trends: High Purity Pig Iron market drivers, restraints, opportunities, and challenges
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the High Purity Pig Iron market
Segment Market Analysis: High Purity Pig Iron market revenue and sales by type and by application from 2018-2028
Regional Market Analysis: High Purity Pig Iron market situations and prospects in major and top regions and countries
High Purity Pig Iron Market
Competitive Landscape
and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product/service profile and recent development/updates, etc.High Purity Pig Iron Industry Chain: High Purity Pig Iron market raw materials & suppliers, manufacturing process, distributors by region, downstream customers
High Purity Pig Iron Industry News, Policies by regions
High Purity Pig Iron Industry Porters Five Forces Analysis
Key players in the global High Purity Pig Iron market are covered in Chapter 2:
China Hanking
Rio Tinto Group
Kobe Steel
Eramet
Benxi Shentie Iron (Group) Co.,Ltd.
Hebei Long Feng Shan Casting Industry Co., Ltd
In Chapter 6 and Chapter 9, on the basis of types, the High Purity Pig Iron market from 2018 to 2028 is primarily split into:
Ordinary Type
Special Type
In Chapter 7 and Chapter 10, on the basis of applications, the High Purity Pig Iron market from 2018 to 2028 covers:
Foundry
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions from 2018 to 2028 are covered in Chapter 8 and Chapter 11:
United States
Europe
China
Japan
India
Southeast Asia
Latin America
Middle East and Africa
Others
In summary, this report relies on sources from both primary and secondary, combines comprehensive quantitative analysis with detailed qualitative analysis, and pictures the market from a macro overview to micro granular segment aspects. Whatever your role in this industry value chain is, you should benefit from this report with no doubt.
Chapter Outline
This report consists of 12 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 first introduces the product overview, market scope, product classification, application, and regional division, and then summarizes the global High Purity Pig Iron market size in terms of revenue, sales volume, and average price.
Chapter 2 analyzes the main companies in the High Purity Pig Iron industry, including their main businesses, products/services, sales, prices, revenue, gross profit margin, and the latest developments/updates.
Chapter 3 is an analysis of the competitive environment of High Purity Pig Iron market participants. This mainly includes the revenue, sales, market share, and average price of the top players, along with the market concentration ratio in 2022 and the players' M&A and expansion in recent years.
Chapter 4 is an analysis of the High Purity Pig Iron industrial chain, including raw material analysis, manufacturing cost structure, distributors, and major downstream buyers.
Chapter 5 focuses on High Purity Pig Iron market dynamics and marketing strategy analysis, which include opportunities, challenges, industry development trends under inflation, industry news and policies analyzed by region, Porter's Five Forces analysis, as well as direct and indirect marketing, and the development trends of marketing channels.
Chapters 6-8 have segmented the High Purity Pig Iron market by type, application, and region, with a focus on sales and value from 2018 to 2023 from both vertical and horizontal perspectives.
Chapters 9-11 provide detailed High Purity Pig Iron market forecast data for 2023-2028, broken down by type and application, region, and major countries to help understand future growth trends.
Chapter 12 concludes with an explanation of the data sources and research methods. Verify and analyze through preliminary research to obtain final quantitative and qualitative data.
Years considered for this report:
Historical Years:
2018-2022Base Year:
2022Estimated Year:
2023Forecast Period:
2023-2028Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
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- By End User/Applications
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The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
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