The global high purity pig iron market size is expected to reach USD 17.09 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 8.5% over the forecast period. Investments in wind power generation are expected to benefit the industry growth from 2022 to 2030. HPPI is the principal raw material used in the production of nodular cast iron components, which are deployed in industries, such as wind energy, automotive & transportation, etc. Increasing emissions and limited potential for fossil fuels have led to the focus on energy production from renewable sources, such as wind and solar. HPPI finds applications in different wind turbine components, such as rotors, shafts, frames, and blades among others.
High Purity Pig Iron Market Report Highlights
- The energy application segment is projected to register the fastest CAGR over the forecast period. A shift towards renewable energy is anticipated to promote the usage of nodular cast iron components and benefit HPPI demand
- Automotive & transportation was the largest application segment in 2021. Investments for new plants and capacity additions are projected to boost the demand for HPPI products in casting parts
- Asia Pacific was the leading region in 2021 due to offshore wind projects and industrial production in China, India, and Japan
- India is anticipated to register a lucrative growth rate, in terms of revenue, over the forecast period due to the growing focus on domestic manufacturing to cater to the growing demand from various end-use industries
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China, a leader in wind energy installations, aims to double its wind and solar capacity by 2025. The pollution levels are also high in China compared to other countries around the world, therefore it is necessary to increase renewable power generation. As per the central economic plan of the country, nearly 33% of power supply will come from renewable sources by 2025, an increase from 29% in 2020. Recently, Siemens Gamesa Renewable Energy received an order for 14 offshore wind turbines from a Green Power Investment firm in Japan. This Ishikari offshore project is likely to produce 112 MW of wind energy wherein installations are planned to start in July 2023. The turbines have ClassNK certification ensuring stringent technical standards. Similar investments in wind energy are expected to provide a boost to the HPPI products demand.
Automotive & transportation is a key application segment, wherein nodular cast iron components made using HPPI are used. This segment is likely to register a growth of 8.3%, in terms of revenue, from 2022 to 2030. A rise in the production capacities for vehicles is projected to attract the demand for HPPI products. For instance, Kia Motors in India is expected to increase its production capacity to 400,000 units by the end of 2022. Increasing utilization of steel scrap in foundries, especially in China, is projected to remain a favorable factor for the industry players. The increasing shift towards electric furnaces compared to blast furnaces requires high purity iron to reduce the impurities in the melt. This is anticipated to benefit in the reduction of carbon emissions and, thus, protect the environment.
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List of major companies in the High Purity Pig Iron Market
- Rio Tinto Fer et Titane (RTFT)
- Tronox Holdings plc
- Richards Bay Minerals (RBM)
- Eramet Group
- Sesa Goa Iron Ore
- Mineral-Loy
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Segmented the global high purity pig iron market on the basis of application and region
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Research Methodology
1.4. Research Scope and Assumptions
1.5. Information Procurement
1.5.1. Purchased database
1.5.2. GVR’s Internal Database
1.5.3. Secondary Sources
1.5.4. Third Party Perspective
1.5.5. Primary Research
1.6. Information Analysis
1.6.1. Data Analysis Models
1.7. Market Formulation and Data Visualization
1.8. Data Validation and Publishing
Chapter 2. Executive Summary
2.1. Market Insights
2.2. Segmental Outlook
Chapter 3. Market Variables, Trends & Scope
3.1. Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Value Chain Analysis
3.3.1. Raw Material Trends
3.4. Technology Overview
3.5. Regulatory Framework
3.6. Market Dynamics
3.6.1. Market Driver Analysis
3.6.2. Market Restraint Analysis
3.6.3. Industry Challenges
3.6.4. Market Opportunities
3.7. Industry Analysis- Porter’s
3.8. PESTEL Analysis
Chapter 4. High Purity Pig Iron Market: Application Estimates & Trend Analysis
4.1. Definition & Scope
4.2. Application Movement Analysis & Market Share, 2021 & 2030
4.3. Automotive & Transportation
4.3.1. Market estimates and forecasts, by automotive & transportation, 2017 - 2030 (Kilotons, USD Million)
4.4. Energy
4.4.1. Market estimates and forecasts, by energy, 2017 - 2030 (Kilotons, USD Million)
4.5. Industrial
4.5.1. Market estimates and forecasts, by industrial, 2017 - 2030 (Kilotons, USD Million)
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With the rapid development of laser technology, the form of laser processing is also gradually changing.
It is favored by all walks of life for its fast, efficient and safe environmental protection.
It has a laser footprint in many areas.
In the application of graphic information marking, it is more common to use a conventional two-dimensional laser marking machine to perform planar marking on various metallic or non-metallic materials.
However, in order to meet the 3D surface marking requirements of various products on the market, 3D surface laser marking machines have appeared and continue to mature and develop.
Compared with the traditional 2D laser marking, 3D marking greatly reduces the surface flatness requirements of the processing object.
Birmingham, AL, was founded in 1871, five years after the Civil War, and with it, the need for tons of pig iron to fix America's crumbling infrastructure.
To satisfy the demand, Colonel James Withers Sloss started construction on Sloss Furnaces.
A year later, the company opened its doors to hundreds of employees, according to its official website.
Working on blast furnaces was an advanced job, and it was also dangerous.
That danger was soon realized as many workers started being incinerated in the furnaces and falling to their deathshttps://www.egypttales.com/2021/06/ghost-stories-sloss-furnaces-birmingham.html
The global induction furnace market was valued at USD 1,098.3 million in 2019 and is projected to reach USD 1,528.2 million by 2027, expanding at a CAGR of 5.1% during the forecast period.In terms of volume, the market is projected to expand at a CAGR of 4.2% during the forecast period.
Induction furnace is an electrical furnace that comprises shell, inductor coil, crucible, and cooling system.
It enables melting of metal with the help of induction heating.
It is an easily-controlled and energy-efficient melting process that is based on the heating effect of the electromagnetic field.
The inductor coil produces magnetic flux when alternating current passes through it.Request Free Sample Report @ https://growthmarketreports.com/request-sample/114On the basis of types, the induction furnace market has been bifurcated into coreless induction furnace and channel induction furnace.
When an electrical current is applied to the coil, a magnetic field forms that in turn generates thermal energy resulting in the melting of the charge.Based on applications, the induction furnace market is divided into steel industry, copper industry, aluminum industry, and zinc industry.
