Global Merchant Pig Iron Market 2025 – 2034

Merchant Pig Iron Market Size, Share, Growth Analysis Report By Type (Basic Pig Iron, Foundry Pig Iron, High Purity Pig Iron), By Production Facility (Dedicated Merchant Plants, Integrated Steel Mills), By End-Use Industry (Automotive, Engineering and Industrial, Power Generation, Pipes and Fittings, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Intelligence, Trends, Outlook, and Forecast 2025–2034The Asia Pacific region will have many chances for profitable growth.

The Global Merchant Pig Iron Market was worth about USD 86078.6 Million in 2025 and is expected to be worth about USD 198838.7 Million by 2034, with a CAGR of about 8.73% between 2025 and 2034. Our research report gives a complete picture of the factors that drive and limit the Merchant Pig Iron market, as well as how they affect demand during the time period we are looking at. The report also looks at the Merchant Pig Iron market's global opportunities and how it compares to other markets.

Overview of the Merchant Pig Iron Market

The main job of merchant pig iron is to make castings. The engineering industry uses these castings a lot. Foundries make most of the pig iron. It is weak and can only be used to make wrought iron, cast iron, or steel. Making steel with electric arcs is the main use for pig iron. But foundries use a high-purity form to make ductile iron castings. Grey iron castings also use foundry-grade pig iron.

Things that help growth

The production of steel in blast furnaces is one of the main things driving the market for merchant pig iron. Steel is always in high demand, especially in cities, which leads to a rise in the demand for merchant pig iron. The ingots are cast and then sold to businesses and manufacturers that use them to make steel and ferrous castings. Also, the rise in demand for casting parts is driving up demand. The automotive and engineering industries use these casting parts the most. So, when these industries grow, the demand for merchant pig iron goes up.

Overview by Segment

There are three main types of Merchant Pig Iron: by type, by production facility, and by end-use industry. The market is divided into three types of pig iron: basic pig iron, foundry pig iron, and high purity pig iron. The market is divided into two types of production facilities: integrated steel mills and dedicated merchant plants. It is thought that the dedicated merchant plants will be the most important. The automotive and power generation market is expected to grow a lot because more people need power and the automotive industry is growing.

Overview of the Region

The Asia Pacific region is expected to see a high CAGR growth during the time frame given. The market is expected to grow faster because of the growth of different industries in the area and the growth of cities. In addition, the growing manufacturing sector and infrastructure development in Asian economies are helping the market.

The North America region, on the other hand, is expected to be the most important. Most of the demand comes from the US. In March 2022, the price of pig iron in the US went up by more than $1,000 per tonne. According to data from the US Census Bureau, about 60% of the pig iron in the country comes from Russia and Ukraine. The country brought in about 6 million tons of pig iron in 2021, which is about 34% less than in 2020. With the start of production at the new steelmaking plant, demand is expected to rise even more in 2022. The US's big increase in pig iron imports is also likely to help the market grow in the next few years.

Scope of the Report Feature of the Report Details

The market is expected to grow at a rate of 8.73% per year from 2025 to 2034, when it will be worth USD 86078.6 million.

Key Segment: By Type, Production Facility, End-Use Industry, and Region

Company Profile, Revenue Estimation and Forecast, Competitive Landscape, Growth Factors, and Recent Trends are all covered in the report.

Scope of the Region North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America

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Insights into the competitive landscape and key players

The people who work in the merchant pig iron market want to work with steel foundries on joint ventures and collaborations. Most of the merchant pig iron goes to other countries. Russia is one of the main countries where merchant pig iron is made.

In January 2021, Stelco Inc., a Canadian steelmaker, built a new pig iron caster at its Lake Erie Works in Ontario. According to company officials, the merchant pig iron is in high demand because more and more people in North America want EAF steel. Show more