Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The global Ferroalloys Industry generated over USD 42.7 billion in 2020 and is projected to grow at a CAGR of more than 7.1% from 2021 to 2028

Grand View Research’s ferroalloys industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.

Access the Global Ferroalloys Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Ferrochrome Market Growth & Trends

The global ferrochrome market size is expected to reach USD 28.83 billion by 2030, expanding at a CAGR of 4.6% from 2019 to 2030, according to a new report by Grand View Research, Inc. The market is mainly driven by demand from booming stainless steel industry especially in Asia. Stainless steel industry accounts for roughly more than 75% of the FeCr consumption in the globe. China, being the largest stainless steel producer is therefore also the biggest consumer of FeCr.

The global stainless steel production is predicted to witness considerable growth over the coming years owing to strong demand from building & construction industry. Stainless steel is largely consumed in building & construction industry due to its aesthetic appearance and corrosion resistance properties. Moreover, a variety of stainless steel products are easily fabricated and therefore, preferred by architects and building contractors.

Majority of chromite ore suppliers in these regions are integrated in nature as they are also involved with manufacturing of ferrochrome. Glencore and Samancor Chrome are some of the major players in South Africa that produce ferrochrome by extracting chromite from their own operating mines situated in South Africa. The chromite ore suppliers are concentrated in South Africa, Kazakhstan, India, Turkey, and Zimbabwe, as these countries are host to enormous amount of chromite ore reserves.

Industry rivalry in ferrochrome market is quite intensive owing to the presence of several established and integrated companies that are consolidated in South Africa, India, Turkey, and Kazakhstan. China is also among the largest suppliers of the FeCr along with South Africa. However, the suppliers in China is characterized by various small to medium sized players that import chrome ore mainly from South Africa for their FeCr production.

Order your copy of the Free Sample of “Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Ferrosilicon Market Growth & Trends

The global ferrosilicon market size is expected to reach USD 13.67 billion by 2030, registering a CAGR of 2.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for ferrosilicon in the steel and cast iron industries is anticipated to contribute to market growth over the forecast period. Ferrosilicon is used as a deoxidizer in the steel industry to prevent the loss of carbon during the production process. As a result, rising investment in the steel industry is anticipated to augment the market growth. For instance, in January 2022, POSCO commenced construction of a new galvanized steel plant in Tangshan, Hebei, China, which is jointly owned by HBIS Group.

The USD 600 million plants are anticipated to have an annual production capacity of 900 kilotons and will supply galvanized steel sheets to the automotive industry. Furthermore, due to their long life span and good compressive strength, cast iron pipes are widely used in plumbing applications. Companies involved in cast iron pipe production are expanding their capacity, thereby fueling ferrosilicon consumption. For instance, in December 2021, AMERICAN SpiralWeld Pipe Company, a producer of cast iron pipe, announced its decision to invest USD 40 million to expand its operation in Richland County, U.S. Furthermore, rising investments in China’s construction industry are expected to benefit market growth.

For instance, China initiated five major infrastructure projects in the third quarter of 2021, one of them was an investment of USD 4,793 million in the construction of a railway line from Liuzhou to Wuzhou covering a distance of 237.78 kilometers. Such projects are aiding the consumption of steel and related products, thereby, positively influencing market growth over the forecast period. The market is competitive with a presence of a large number of players scattered across different regions. To uphold and expand their presence, market vendors are involved in acquisition activities. For instance, in February 2022, Elkem ASA acquired the remaining 50% stake in the Salten energy recovery plant from Kvitebjørn Energi, thus, taking 100% ownership. This acquisition aims to enable the production of environmental-friendly ferrosilicon grade.

Go through the table of content of Ferroalloys Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Ferroalloys Industry are:

• Arcelor Mittal
• Brahm Group
• China Minmetals Group Co., Ltd.
• Elkem ASA
• EMCO

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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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