Global Ferrosilicon Market Size study, by Application (Deoxidizer, Inoculants, Others) by End-use (Carbon & Other Alloy Steel, Stainless Steel, Electric Steel, Cast Iron, Others) and Regional Forecasts 2022-2028

Global Ferrosilicon Market Size study, by Application (Deoxidizer, Inoculants, Others) by End-use (Carbon & Other Alloy Steel, Stainless Steel, Electric Steel, Cast Iron, Others) and Regional Forecasts 2022-2028

Global Ferrosilicon Market is valued approximately USD 10.78 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 2.4 % over the forecast period 2022-2028.
Ferrosilicon is a type of iron-silicon alloy with a silicon content of 15–90% by weight.. Because of its outstanding properties, such as high strength, hardness, corrosion resistance, and high temperature resistance, ferrosilicon is widely used in steel and cast iron applications. Ninety percent of ferrosilicon is utilised in the production of iron and steel. Ferrosilicon is used to inoculate iron to speed up graphitization in the manufacturing of cast iron. Rising ferrosilicon demand in the steel and cast iron industries is likely to drive market expansion over the forecast period. Ferrosilicon is used as a deoxidizer in the steel industry to reduce carbon loss during the manufacturing process. As a result, increasing steel sector investment is likely to boost market expansion. As per company source, In Tangshan, Hebei, China, POSCO began building of a new galvanized steel factory in January 2022, which is jointly owned by HBIS Group. The $600 million plant will produce 900 kilotons of galvanized steel sheets per year and will be sold to the automotive industry. Because of their long life span and great compressive strength, cast iron pipes are also extensively used in plumbing applications. Cast iron pipe makers are expanding their capacity, which means more ferrosilicon is being used. For example, AMERICAN SpiralWeld Pipe Company, a cast iron pipe manufacturer, said in December 2021invested USD 40 million in Richland County, South Carolina to expand its operations. Increased construction investment in China is also expected to promote market growth. However, the availability of alternative ferroalloys will stifle market growth between 2022 and 2028.

The key regions considered for the global Ferrosilicon Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. The ferrosilicon market was dominated by Asia Pacific, which accounted for the majority of revenue. Steel production is being boosted by the ferrosilicon market, which is benefiting from the strong potential for infrastructure expansion as well as continuous investment in the vehicle industry. According to the World Steel Association, China, India, and Japan were the top three crude steel producers in the world in 2021. While China and Japan expect production to fall, India expects a 4.7 percent increase from 2020 to 2021. Various steel capacity expansion investments are being made across the area, which is projected to boost market growth during the forecast period.

Major market player included in this report are:
Elkem ASA
Eurasian Resources Group
Ferro Alloys Corporation Limited (FACOR)
FINNFJORD AS
Ferroglobe
IMFA
OM Holdings Ltd.
Russian Ferro-Alloys Inc.
SINOGU CHINA
VBC Ferro Alloys Limited
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Application
Deoxidizer
Inoculants
Others
By End-use
Carbon & Other Alloy Steel
Stainless Steel
Electric Steel
Cast Iron
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global Ferrosilicon Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Elkem ASA
Eurasian Resources Group
Ferro Alloys Corporation Limited (FACOR)
FINNFJORD AS
Ferroglobe
IMFA
OM Holdings Ltd.
Russian Ferro-Alloys Inc.
SINOGU CHINA
VBC Ferro Alloys Limited

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