Global Ferro Alloys Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Ferro Alloys Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Ferroalloys used for induction furnace applications are specialized alloys composed primarily of iron (Fe) and one or more other elements like silicon (Si), manganese (Mn), chromium (Cr), or others. These alloys are designed to be melted and added to molten metal in an induction furnace to modify its composition and properties, typically for the production of steel and other alloys.

Market Overview:

The latest research study on the global Ferro Alloys market finds that the global Ferro Alloys market reached a value of USD 806.72 million in 2023. It’s expected that the market will achieve USD 1009.58 million by 2029, exhibiting a CAGR of 3.81% during the forecast period.

The conflict between Russia and Ukraine has had a discernible impact on the global Ferro Alloys market, including those used for induction furnace applications. Russia and Ukraine are significant producers and exporters of key raw materials, such as ferrochrome, manganese, and nickel, that are essential for the production of ferroalloys. The war and ensuing geopolitical tensions have raised concerns about the reliability and stability of supply chains, contributing to increased price volatility and supply disruptions in the ferroalloys market.

Drivers for Africa

1.Abundant natural resources and relatively low power cost
2.Growing Steel Industry: The continuous development of the iron and steel industry serves as a fundamental growth driver for the African ferroalloys sector.

Challenges for Africa

Some recent developments may threaten the Ferro Alloys market in Africa. These include new legislation affecting the mining industry and mineral industry, the exhaustion of surplus power generation capacity and the threat of real price increase. Chief among them is the increase in electricity prices in Africa.

Region Overview:

Middle East had the highest growth rate of all regions in 2022.

In 2022, the share of the Ferro Alloys market in Asia stood at 86.06%.

Company Overview:

Nippon Denko is one of the major players operating in the Ferro Alloys market, holding a share of 12.19% in 2023.

Nippon Denko, Tata Steel, Indian Metals & Ferro Alloys Limited (IMFA), Jindal Stainless Limited and Maithan Alloys Limited are the five key players in the global Ferro Alloys market. These companies have shown consistent growth in revenue, larger volumes of sales and a prominent presence in terms of share in the global Ferro Alloys market in the past 5 years.

Segmentation Overview:

The Ferro Chrome segment by type showed a value growth of 12.33% in 2022.

Among different product types, Ferro Manganese segment is anticipated to contribute the largest market share in 2028.

Key Companies in the global Ferro Alloys market covered in Chapter 3:

ICT Group
ZIMASCO
Tata Steel
Vyankatesh Metals & Alloys Pvt Ltd
Yildirim Group
ENRC
Sarojini Ferro Alloys LLC
GLENCORE
Hernic Ferrochrome
Fondel Corporation
Afarak
Shyamji Group
Vargon Alloys
China Minmetals Corporation.
Tennant Metallurgical Group
Ferro Alloys Corporation Limited (FACOR)
ZimAlloys
Samancor
Rohit Ferro Tech
Maranatha Ferrochrome (RioZim)
Harsco
Indsil
Jayesh Group
Tharisa
Westbrook Resources Ltd
Sinosteel
S.C. Feral S.R.L.
Balasore Alloys Limited
Oliken Ferroalloys

In Chapter 4 and Chapter 14.2, on the basis of types, the Ferro Alloys market from 2019 to 2030 is primarily split into:

Ferrochrome
Ferromanganese
Ferrosilicon
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Ferro Alloys market from 2019 to 2030 covers:

Road Rails
Automobile Bodies
Cutlery
Dairy Equipment
Hand Railings
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)