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IndexBox has just published a new report: U.S. – Articles Of Non-Malleable Cast Iron – Market Analysis, Forecast, Size, Trends And Insights.
The article discusses the expected uptrend in consumption of non-malleable cast iron articles in the US market, with a forecasted CAGR of +0.2% in volume and +0.4% in value from 2024 to 2035. By the end of 2035, the market volume is projected to reach 589K tons and the market value to hit $2B in nominal prices.
Driven by increasing demand for articles of non-malleable cast iron in the United States, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.2% for the period from 2024 to 2035, which is projected to bring the market volume to 589K tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +0.4% for the period from 2024 to 2035, which is projected to bring the market value to $2B (in nominal wholesale prices) by the end of 2035.
In 2024, consumption of articles of non-malleable cast iron was finally on the rise to reach 574K tons after two years of decline. The total consumption volume increased at an average annual rate of +1.1% from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, consumption reached the maximum volume at 616K tons in 2021; however, from 2022 to 2024, consumption failed to regain momentum.
The size of the non-malleable cast iron articles market in the United States totaled $1.9B in 2024, growing by 4.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $2.2B. From 2016 to 2024, the growth of the market remained at a somewhat lower figure.
In 2024, approx. 473K tons of articles of non-malleable cast iron were produced in the United States; dropping by -2.8% against the previous year’s figure. The total output volume increased at an average annual rate of +1.6% over the period from 2013 to 2024; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 26% against the previous year. Over the period under review, production attained the maximum volume at 514K tons in 2021; however, from 2022 to 2024, production stood at a somewhat lower figure.
In value terms, non-malleable cast iron articles production dropped slightly to $1.6B in 2024. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 23% against the previous year. Non-malleable cast iron articles production peaked at $1.8B in 2016; however, from 2017 to 2024, production failed to regain momentum.
Non-malleable cast iron articles imports into the United States rose significantly to 122K tons in 2024, surging by 14% against 2023. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when imports increased by 30%. As a result, imports reached the peak of 178K tons. From 2023 to 2024, the growth of imports failed to regain momentum.
In value terms, non-malleable cast iron articles imports expanded slightly to $226M in 2024. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of 50%. As a result, imports reached the peak of $323M. From 2023 to 2024, the growth of imports remained at a lower figure.
In 2024, India (82K tons) constituted the largest supplier of non-malleable cast iron articles to the United States, with a 67% share of total imports. Moreover, non-malleable cast iron articles imports from India exceeded the figures recorded by the second-largest supplier, China (17K tons), fivefold. The third position in this ranking was taken by Mexico (2.4K tons), with a 2% share.
From 2013 to 2024, the average annual rate of growth in terms of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.2% per year) and Mexico (-17.9% per year).
In value terms, India ($113M) constituted the largest supplier of articles of non-malleable cast iron to the United States, comprising 50% of total imports. The second position in the ranking was taken by China ($40M), with an 18% share of total imports. It was followed by the UK, with a 6.9% share.
From 2013 to 2024, the average annual growth rate of value from India amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-2.9% per year) and the UK (+9.5% per year).
The average non-malleable cast iron articles import price stood at $1,860 per ton in 2024, which is down by -8.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the average import price increased by 15%. Over the period under review, average import prices hit record highs at $2,025 per ton in 2023, and then reduced in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($8,524 per ton), while the price for India ($1,384 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Mexico (+5.3%), while the prices for the other major suppliers experienced more modest paces of growth.
In 2024, the amount of articles of non-malleable cast iron exported from the United States shrank notably to 21K tons, reducing by -27.9% compared with the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 34% against the previous year. The exports peaked at 36K tons in 2018; however, from 2019 to 2024, the exports stood at a somewhat lower figure.
In value terms, non-malleable cast iron articles exports declined markedly to $91M in 2024. In general, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 36%. Over the period under review, the exports reached the maximum at $122M in 2018; however, from 2019 to 2024, the exports failed to regain momentum.
Canada (15K tons) was the main destination for non-malleable cast iron articles exports from the United States, accounting for a 70% share of total exports. Moreover, non-malleable cast iron articles exports to Canada exceeded the volume sent to the second major destination, the Dominican Republic (1.9K tons), eightfold. The third position in this ranking was held by Mexico (1.6K tons), with a 7.4% share.
From 2013 to 2024, the average annual rate of growth in terms of volume to Canada stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Dominican Republic (+62.0% per year) and Mexico (-11.8% per year).
In value terms, Canada ($54M) remains the key foreign market for articles of non-malleable cast iron exports from the United States, comprising 59% of total exports. The second position in the ranking was held by Mexico ($8.3M), with a 9% share of total exports. It was followed by Belgium, with an 8.8% share.
From 2013 to 2024, the average annual growth rate of value to Canada stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-9.0% per year) and Belgium (+19.1% per year).
The average non-malleable cast iron articles export price stood at $4,322 per ton in 2024, with an increase of 12% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the average export price increased by 16%. Over the period under review, the average export prices attained the maximum at $4,466 per ton in 2013; however, from 2014 to 2024, the export prices remained at a lower figure.
There were significant differences in the average prices for the major export markets. In 2024, amid the top suppliers, the country with the highest price was Chile ($9,891 per ton), while the average price for exports to the UK ($2,909 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.
Source: IndexBox Market Intelligence Platform
This report provides an in-depth analysis of the market for non-malleable cast iron articles in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Import Supplying Countries
The Largest Destinations for Exports
The Largest Producers on The Market and Their Profiles
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United States's Non-Malleable Cast Iron Market to Grow at CAGR of +0.2% Over Next Decade – IndexBox
