From 2013 to 2023, the UK's pig iron production declined, with fluctuations over the years. In 2013, production was 9.51 million metric tons, peaking at 9.71 million metric tons in 2014, before experiencing a general decreasing trend. By 2023, production stood at 8.8 million metric tons. The significant year-on-year variance included a 17.29% drop in 2020 and a notable rebound of 20.06% in 2021. Over the last five years, the compound annual growth rate (CAGR) averaged -0.35%.
The forecast from 2024 to 2028 indicates a continued decline, with production expected to decrease to 8.65 million metric tons by 2028. The projected 5-year CAGR is -0.28%, resulting in a forecasted cumulative drop of 1.41% over the period.
Future trends to watch for include potential impacts of advancements in sustainable production technologies, global trade policies, and the evolving demand for steel products, which could influence pig iron production dynamics in the UK.
