All updated as on -
Ferro Alloys Market Size was assessed at USD 139.9 billion in 2022. The ferro alloys industry is anticipated to expand from USD 147.9 Billion in 2023 to USD 204.8 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.60% over the forecast period (2023 - 2030). Growing utilization in car production and technological progress are the primary market drivers enhancing the market growth.
Ferroalloys are iron alloys that contain a high proportion of one or more other elements, such as aluminum, manganese or silicon. They are utilised in the manufacturing of steels and alloys. Alloys offer diverse qualities to steel and cast iron or play crucial roles during manufacture, and are thus intimately connected with the iron and steel business, the main user of ferroalloys. Because of the increasing demand in the iron and steel sectors, ferroalloys are widely utilised in iron and steel manufacturing. The Asia Pacific area has generated the biggest ferroalloys market share, and this region is likely to retain this growth in the following years. Because of consumer discretionary income development and the region's developing construction industry, this region is generating increasing ferroalloys market share. The Asia Pacific area has the greatest ferroalloys market share, and this trend is predicted to continue in the coming years. This region is generating increasing ferroalloys market share due to consumer discretionary income growth and the region's growing construction industry.
The U.S. market for ferroalloys is supported by the rise of the steel sector in the country. For instance, in September 2021, United States Steel Corporation has announced an investment of USD 3.0 billion for the development of a mini-mill for flat steel manufacture. The mill is planned to have 2 modern electric arc furnaces and is likely to provide sustainable steel solutions such as Advanced High Strength Steel (AHSS).
Similarly, Nucor Steel has started developing a steel mill near Brandenburg, Kentucky. This growth in the U.S. steel industry is principally aided by steel tariffs implemented by Trump Administration. In 2018, the Trump government announced steel tariffs under section 232 of U.S. trade law. The government is determined to boost steel supply for industries such as infrastructure, weaponry, and advanced military equipment.
The increasing need for ferroalloys throughout the global steel sectors, the automotive and transportation industries are likely to enhance global market demand. The global ferroalloys market is rising due to its use in the automotive, transportation sectors and vehicle as well as technological advances. As a result, the worldwide market is expected to increase the ferroalloys market growth due to its wide range of applications in industries such as electronics, metallurgy, healthcare and oil and gas. The global ferroalloys market is rising due to its application in the vehicle, automotive, and transportation industries, as well as technological advances. However, technical development can limit worldwide market expansion. Additionally, the rising global demand for Ferroalloys goods may constrain the global market's expansion. As a result, the worldwide market wants additional large businesses to focus on these challenges. The increasing for ferroalloys products is likely to give further growth potential for the ferroalloys sector. Moreover, the advancement of lightweight steel grades and high strength has provided profitable chances for major competitors in the global market. In addition, prominent players are working hard to increase demand for Ferroalloys goods in numerous regions.
Ferroalloy or ferrous alloys are composed of iron and ferrous or non-ferrous metals as alloying ingredients. The mix of the iron with the other components such as silicon, manganese, and chromium are the elements that enhance the ferroalloys. These ferroalloys offer many noteworthy qualities for end-use industries, including corrosion resistance, increased hardenability, and high tensile strength. Moreover, ferroalloys are abundantly available, robust, and cheap, making them more suited than non-alloy metals for the end-use industries.
Rapid increase in stainless steel is likely to drive the ferroalloys industry. These alloys are exploited in stainless steel manufacture. Stainless steel is widely utilized in the automotive and construction industries. The most recent usage of stainless steel is canopies, handrails, atriums, and general structures. As per the World Steel Association, roughly 52% of steel is occupied by the building industry. Thus, significant growth of the stainless steel industry will spike the product demand in the market.
The increased demand for ferroalloys in the steel, automotive, and transportation industries is projected to drive market demand. Because to its application in the automotive, transportation, and vehicle industries, as well as technical improvements, the ferroalloys market is expanding. As a result of its wide range of applications in industries such as electronics, metallurgy, healthcare, and oil and gas, the industry is predicted to enhance ferroalloys market growth. Because to its application in the vehicle, automotive, and transportation industries, as well as technological improvements, the ferroalloys market CAGR is rising.
Report Coverage
Global Ferroalloys research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ferroalloys report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ferroalloys competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ferroalloys market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ferroalloys market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ferroalloys market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Gulf Ferroalloys Company (SABAYEK) (Saudi Arabia), Tata Steel (India), Brahm Group (India), Ferroalloy Corporation Limited (India), Shanghai Ferroalloys Works (China), Georgian American Alloys (USA), SAIL (India), OFZ, a.s (Slovakia), Jindal Group, Glencore, Samancore Chrome, Ferro Alloys Corporation Limited, Feral S.R.L, China Minmetals.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ferroalloys market based on the below-mentioned segments:
Global Ferroalloys Market, By Product Type
Ferrochrome
Ferromanganese
Ferro Silicomanganese
Ferrosilicon
Global Ferroalloys market, By Application
Carbon & Low Alloy Steel
Stainless Steel
Alloy Steel
Cast Iron
Others
Global Ferroalloys market, Regional Analysis
Ferroalloys are iron alloys that contain a high proportion of one or more other elements, such as aluminum, manganese or silicon. They are utilised in the manufacturing of steels and alloys. Alloys offer diverse qualities to steel and cast iron or play crucial roles during manufacture, and are thus intimately connected with the iron and steel business, the main user of ferroalloys. Because of the increasing demand in the iron and steel sectors, ferroalloys are widely utilised in iron and steel manufacturing. The Asia Pacific area has generated the biggest ferroalloys market share, and this region is likely to retain this growth in the following years. Because of consumer discretionary income development and the region's developing construction industry, this region is generating increasing ferroalloys market share. The Asia Pacific area has the greatest ferroalloys market share, and this trend is predicted to continue in the coming years. This region is generating increasing ferroalloys market share due to consumer discretionary income growth and the region's growing construction industry.
The U.S. market for ferroalloys is supported by the rise of the steel sector in the country. For instance, in September 2021, United States Steel Corporation has announced an investment of USD 3.0 billion for the development of a mini-mill for flat steel manufacture. The mill is planned to have 2 modern electric arc furnaces and is likely to provide sustainable steel solutions such as Advanced High Strength Steel (AHSS).
Similarly, Nucor Steel has started developing a steel mill near Brandenburg, Kentucky. This growth in the U.S. steel industry is principally aided by steel tariffs implemented by Trump Administration. In 2018, the Trump government announced steel tariffs under section 232 of U.S. trade law. The government is determined to boost steel supply for industries such as infrastructure, weaponry, and advanced military equipment.
The increasing need for ferroalloys throughout the global steel sectors, the automotive and transportation industries are likely to enhance global market demand. The global ferroalloys market is rising due to its use in the automotive, transportation sectors and vehicle as well as technological advances. As a result, the worldwide market is expected to increase the ferroalloys market growth due to its wide range of applications in industries such as electronics, metallurgy, healthcare and oil and gas. The global ferroalloys market is rising due to its application in the vehicle, automotive, and transportation industries, as well as technological advances. However, technical development can limit worldwide market expansion. Additionally, the rising global demand for Ferroalloys goods may constrain the global market's expansion. As a result, the worldwide market wants additional large businesses to focus on these challenges. The increasing for ferroalloys products is likely to give further growth potential for the ferroalloys sector. Moreover, the advancement of lightweight steel grades and high strength has provided profitable chances for major competitors in the global market. In addition, prominent players are working hard to increase demand for Ferroalloys goods in numerous regions.
Ferroalloy or ferrous alloys are composed of iron and ferrous or non-ferrous metals as alloying ingredients. The mix of the iron with the other components such as silicon, manganese, and chromium are the elements that enhance the ferroalloys. These ferroalloys offer many noteworthy qualities for end-use industries, including corrosion resistance, increased hardenability, and high tensile strength. Moreover, ferroalloys are abundantly available, robust, and cheap, making them more suited than non-alloy metals for the end-use industries.
Rapid increase in stainless steel is likely to drive the ferroalloys industry. These alloys are exploited in stainless steel manufacture. Stainless steel is widely utilized in the automotive and construction industries. The most recent usage of stainless steel is canopies, handrails, atriums, and general structures. As per the World Steel Association, roughly 52% of steel is occupied by the building industry. Thus, significant growth of the stainless steel industry will spike the product demand in the market.
The increased demand for ferroalloys in the steel, automotive, and transportation industries is projected to drive market demand. Because to its application in the automotive, transportation, and vehicle industries, as well as technical improvements, the ferroalloys market is expanding. As a result of its wide range of applications in industries such as electronics, metallurgy, healthcare, and oil and gas, the industry is predicted to enhance ferroalloys market growth. Because to its application in the vehicle, automotive, and transportation industries, as well as technological improvements, the ferroalloys market CAGR is rising.
Report Coverage
Global Ferroalloys research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Ferroalloys report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Ferroalloys competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Ferroalloys market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Gulf Ferroalloys Company (SABAYEK) (Saudi Arabia), Tata Steel (India), Brahm Group (India), Ferroalloy Corporation Limited (India), Shanghai Ferroalloys Works (China), Georgian American Alloys (USA), SAIL (India), OFZ, a.s (Slovakia), Jindal Group, Glencore, Samancore Chrome, Ferro Alloys Corporation Limited, Feral S.R.L, China Minmetals. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Ferroalloys Market from 2021 to 2030.
- Market Forecast for Ferroalloys Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Ferroalloys competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Ferroalloys
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Ferroalloys market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Ferroalloys market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Gulf Ferroalloys Company (SABAYEK) (Saudi Arabia), Tata Steel (India), Brahm Group (India), Ferroalloy Corporation Limited (India), Shanghai Ferroalloys Works (China), Georgian American Alloys (USA), SAIL (India), OFZ, a.s (Slovakia), Jindal Group, Glencore, Samancore Chrome, Ferro Alloys Corporation Limited, Feral S.R.L, China Minmetals.
Primary Target Market
- Market Players of Ferroalloys
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Ferroalloys market based on the below-mentioned segments:
Global Ferroalloys Market, By Product Type
Ferrochrome
Ferromanganese
Ferro Silicomanganese
Ferrosilicon
Global Ferroalloys market, By Application
Carbon & Low Alloy Steel
Stainless Steel
Alloy Steel
Cast Iron
Others
Global Ferroalloys market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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