Global High Purity Pig Iron Market Size study & Forecast, by End User (Automotive & transportation, Energy, Others) and Regional Analysis, 2022-2029

Global High Purity Pig Iron Market Size study & Forecast, by End User (Automotive & transportation, Energy, Others) and Regional Analysis, 2022-2029

Global High Purity Pig Iron Market is valued at approximately USD 8.19 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 8.5% over the forecast period 2022-2029. High Purity Pig Iron (HPPI) is a valuable product that has a very high level of purity. It offers high elasticity and tensile strength, which is gaining high traction in various end-use industries. Factors such as rising demand for casting products, growing investments in wind energy installation, and the increasing number of government initiatives are acting as catalyzing factors for the market demand across the globe.

For instance, in September 2021, The Union government of India offered viability gap funding (VGF) or grants for offshore wind and storage projects. The government has aimed to add 30GW of offshore wind energy projects by the year 2030 and several distribution companies carry out renovation and modernization of substations. Therefore, the high investments in wind energy installation are fueling the market demand around the world. Moreover, rising demand from the automobile and construction industries, as well as growing urbanization and industrialization in various emerging countries are leveraging the market growth over the forthcoming years. However, a lack of awareness about high purity pig iron is hindering market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global High Purity Pig Iron Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. The Asia Pacific dominated the space in terms of revenue, owing to the rising demand for cast products from different industries, and increasing government support. Whereas, Europe is expected to grow significantly during the forecast period. Factors such as the growing focus on the renewable energy sector, as well as increasing demand for lightweight components in vehicles are burgeoning the market growth in the forecasting years.

Major market players included in this report are:
Rio Tinto Fer et Titane (RTFT)
Tronox Holdings plc
Richards Bay Minerals (RBM)
Eramet Group
Sesa Goa Iron Ore
Mineral-Loy
China Hanking
Hebei Long Feng Shan Casting Industry Co., Ltd
Benxi Shentie Iron (Group) Co.,Ltd.
Kobe Steel
Recent Developments in the Market:
In 2021, Reedy Lagoon Corp. publicized the company’s plan to invest in the manufacturing of HPPI under a project named Burracoppin Green HPPI and is determined to create vertical integration in the supply chain. The company expects to target steel makers from Australia, North America, Europe, and Asia.
Global High Purity Pig Iron Market Report Scope:
Historical DataCompanies Mentioned

Rio Tinto Fer et Titane (RTFT)
Tronox Holdings plc
Richards Bay Minerals (RBM)
Eramet Group
Sesa Goa Iron Ore
Mineral-Loy
China Hanking
Hebei Long Feng Shan Casting Industry Co., Ltd
Benxi Shentie Iron (Group) Co.,Ltd.
Kobe Steel

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