Global Ferrosilicon Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Ferrosilicon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ferrosilicon market share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global ferrosilicon market size reached US$ 12.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.0 Billion by 2028, exhibiting a growth rate (CAGR) of 2.4% during 2023-2028.
Ferrosilicon, a distinct ferroalloy, primarily comprises iron and silicon (Si). Its production involves smelting a blend of iron ore, silicon sources, and a reducing agent using either an electric arc furnace or a submerged arc furnace. This material serves as a deoxidizing agent during steelmaking, aiding in the elimination of oxygen from molten steel. Its inclusion enhances the mechanical properties, strength, and hardness of the resulting materials. Additionally, it improves resistance against corrosion and oxidation. Ferrosilicon finds widespread application as an alloying agent in the manufacturing of steel and cast iron.
Global Ferrosilicon Market Trends and Drivers:
The global market is experiencing significant growth due to the increasing utilization of ferrosilicon in the deoxidation and desulfurization of molten steel. This process enhances steel quality and reduces impurities, making it a crucial factor driving market expansion. Additionally, the chemical industry is increasingly adopting ferrosilicon as a precursor to manufacture various silicon-based compounds and chemicals, contributing to market growth.
Furthermore, the construction industry utilizes ferrosilicon as an additive in concrete and construction materials. By incorporating ferrosilicon, properties of these materials such as density, permeability, and durability are improved, making it an attractive choice. The positive influence of growing construction projects, particularly in commercial areas, further contributes to the favorable market conditions.
Global Ferrosilicon Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), DMS Powders, Eurasian Resources Group, Ferroglobe PLC, Finnfjord AS, Hindustan Alloys Private Limited, Indian Metals & Ferro Alloys Limited, Maithan Alloys Limited, Mechel PAO, OM Holdings Ltd. and Westbrook Resources Ltd.
The report segmented the market on the basis of region, type, application and end user.
Breakup by Type:
- Atomized Ferrosilicon
- Milled Ferrosilicon
Breakup by Application:
- Deoxidizer
- Inoculant
- Others
Breakup by End User:
- Carbon and Other Alloy Steel
- Stainless Steel
- Electric Steel
- Cast Iron
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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