COVID Update: Ferroalloys Market is projected to reach a value of over USD 75.4billion by 2027 at a CAGR of around 5.1%.
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.
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- 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.
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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.
Report FeaturesSpecificsHistorical/Estimated/Forecasted Market Size Years2019–2027Base Year for Market Calculation2020Forecasted Period2021–2027 (2021 estimated year, forecasted up to 2027)Measured UnitsValue (USD Million), Volume (Kiloton)Segments IncludedProduct, Application, and RegionRegional CoverageNorth 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
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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
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Table of Content
2 Research Design & Scope
3 Executive Summary
4 Market Dynamics
5 Industry Trends — Porters Five Forces Analysis
6 GLOBAL FERROALLOYS MARKET BY PRODUCT, Market Size in USD Million & Volume in Kilotons (2019–2027)
7 GLOBAL FERROALLOYS MARKET BY APPLICATION, Market Size in USD Million & Volume in Kilotons(2019–2027)
8 GLOBAL FERROALLOYS MARKET BY REGION, Market Size in USD Million & Volume in Kilotons(2019–2027)
9 Competitive Landscape
10 Company Profiles
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