Ferroalloys Market: Summary
The Global Ferroalloys Market is projected to reach a value of over USD 75.4billion by 2027 at a CAGR of around 5.1%.
Ferroalloys are the iron alloys composed with high proportion of elements such as aluminum, silicon, or manganese which is used in production of alloys and steel. Ferroalloys have been developed to improve the alloy and steel by introducing specific alloying element in desirable quantities. It’s properties such as ductility, strength, and fatigue or corrosion resistance of steel are making it popular across various industries. Additionally, they have application in several tasks such as deoxidation, refining, modification, and control of non-metallic inclusion and precipitates.
Ferroalloys Market: Drivers & Challenges
- Growing Steel Demand in Various End Use Industries
Ferroalloy is used widely in manufacturing of variety of steel such as alloy steel, carbon steel,stainless steel, and others. Presence of iron ore is abundant across the globe which is intensifying the demand for various types of steel grades. According to worldsteel Association, the global crude steel production reached 1,869.9 million tons (Mt) in 2019, which has increased by 3.4% as compared to previous year. Thus, growing steel production has attributed to raise its demand from various end use industries such as automotive, construction, and aerospace & defense. Ferroalloy is used in steel for improve its properties such as ductility, strength, and fatigue. Thus, growing steel demand from various end use industries such as automotive, construction, and aerospace & defense has expected to surge the demand for ferroalloys market during the forecasted period.
- Stringent Government Regulations
Steel industry is responsible for emission of carbon dioxide which is released in various stages of steel producing. According to worldsteel Association, on an average 1.85 tons of CO2 was emitted for every tone of steel produced in 2018. Thus, various government bodies have imposed stringent regulations and industry standard for iron and steel production industries. For instance, Environmental Protection Agency (EPA), has introduced Greenhouse Gas Reporting Program (GHGRP) for metals with an aim to keep track of greenhouse gas emission during each production facilities of the metal. Thus, stringent regulations imposed by various governing bodies to control the release of greenhouse gases may pose challenge to the ferroalloy market growth.
Ferroalloys Market: Key Segments
- Segmentation based on product: Ferrochrome (FeCr),Ferro Silicomanganese (FeSiMn), Ferromanganese, Ferrosilicon, and Others.
- Segmentation based on application: Stainless Steel, Carbon & Low Alloy Steel, Alloy Steel, Cast Iron, and Others.
- Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.
Ferroalloys Market: Report Scope
The report on the ferroalloys market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2021-2027 (2021 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Kiloton)
Product, Application, and Region
North America, Asia-Pacific, Europe, Middle East & Africa, South America
Key Companies Covered
- Vedanta limited(Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Eurasian Resources Group
- Nikopol Ferroalloy Plant
- SC Feral Srl.
- Jindal Stainless Limited
- Samancor Chrome
- Tata Steel
- OM Holdings Ltd
- LEMETCO GmbH
- MidUral Group
- SAKURA FERROALLOYS
- Pertama Ferroalloys Sdn
- Other Key Companies
Ferroalloys Market: Report Segmentation
For the scope of the report, In-depth segmentation is offered by Forencis Research
Ferroalloys Market, by Product
- Ferrochrome (FeCr)
- Ferro Silicomanganese (FeSiMn)
Ferroalloys Market, by Application
- Stainless Steel
- Carbon & Low Alloy Steel
- Alloy Steel
- Cast Iron
Ferroalloys Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions Answered By The Report
- What are the prominent developments affecting the market worldwide and its growth?
- What will be the impact of the developments in the market on the industry and on the market players in the future?
- What are the evolving variations of the market globally?
- What are the evolving functions of the market globally?
- What are the prominent aspects that will affect market growth globally during the study period?
- Who are the key players operating in the market across the globe?
- How are the key players leveraging in the present market scenario worldwide?
- Ferroalloys Market Providers
- Ferroalloys Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Ferroalloys Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE FERROALLOYS MARKET STUDY