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Ferrosilicon - Global Strategic Business Report

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    Report

  • 382 Pages
  • March 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 338632

Global Ferrosilicon Market to Reach $14.1 Billion by 2030

The global market for Ferrosilicon estimated at US$11.7 Billion in the year 2022, is projected to reach a revised size of US$14.1 Billion by 2030, growing at a CAGR of 2.5% over the analysis period 2022-2030. Deoxidizer, one of the segments analyzed in the report, is projected to record 2.5% CAGR and reach US$9.8 Billion by the end of the analysis period. Growth in the Inoculants segment is estimated at 2.8% CAGR for the next 8-year period.

The U.S. Market is Estimated at $705.4 Million, While China is Forecast to Grow at 2.8% CAGR

The Ferrosilicon market in the U.S. is estimated at US$705.4 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$8.5 Billion by the year 2030 trailing a CAGR of 2.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.4% and 1.6% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.

Select Competitors (Total 62 Featured) -

  • Anyang Xinchuang Metallurgy Material Co., Ltd.
  • DMS Powders (Pty) Ltd.
  • Elkem ASA
  • Eurasian Resources Group
  • Ferroglobe PLC
  • Finnfjord AS
  • Imexsar
  • M & M Alloys Limited
  • Mechel PAO
  • Sinoferro Dense Medium Powders Limited
  • The Rima Group
  • Westbrook Resources Ltd

What`s New?

  • Special discussions on the global economic climate and market sentiment
  • Coverage on global competitiveness and key competitor percentage market shares
  • Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to digital archives and research platform
  • Complimentary updates for one year
  • Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

Economic Outlook

The global economic outlook is improving, and growth recovery, albeit on the lower side, is expected for this year and the next. The United States although witnessing slowing GDP growth in response to tight monetary and financial conditions, has nevertheless overcome the recession threat. Easing of headline inflation in Euro area is helping boost real incomes and is contributing to pick-up in economic activity. China is expected to see strong increases in GDP in the coming year as the pandemic threat recedes and the government sheds its zero-COVID policy. With optimistic GDP projections, India remains on-course to emerge into a US trillion economy by 2030, surpassing Japan and Germany.

The upturn, however, remains fragile and a number of interlocking challenges continue to run in parallel, such as continued uncertainty around the war in Ukraine; slower than expected decline in global headline inflation; continuation of food and fuel inflation as a persistent economic problem for most developing countries; and still high retail inflation and its impact on consumer confidence and spending. Countries and their governments are showing signs of weathering these challenges, which helps lift market sentiments. As governments continue to combat inflation to get it down to more economically conformable levels by raising interest rates, new job creation will slowdown and impact economic activity. Stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.

Although corporate investments can likely be held back by inflation worries and weaker demand, rise of new technologies will reverse partially this prevailing investment sentiment. Rise of generative AI; applied AI; industrializing machine learning; next-generation software development; Web3; cloud and edge computing; quantum technologies; electrification and renewables and climate technologies beyond electrification and renewables, will open up the global investment landscape. The technologies hold the potential to drive sizeable incremental growth and value to global GDP in the coming years. The short-term is expected to be a mixed bag of challenges and opportunities for both consumers and investors alike. There is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
Frequently Asked Questions about the Ferrosilicon Market

What is the estimated value of the Ferrosilicon Market?

The Ferrosilicon Market was estimated to be valued at $11.7 Billion in 2022.

What is the growth rate of the Ferrosilicon Market?

The growth rate of the Ferrosilicon Market is 2.4%, with an estimated value of $14.1 Billion by 2030.

What is the forecasted size of the Ferrosilicon Market?

The Ferrosilicon Market is estimated to be worth $14.1 Billion by 2030.

Who are the key companies in the Ferrosilicon Market?

Key companies in the Ferrosilicon Market include Anyang Xinchuang Metallurgy Material Co., Ltd., DMS Powders (Pty) Ltd., Elkem ASA, Eurasian Resources Group, Ferroglobe PLC, Finnfjord AS, Imexsar, M & M Alloys Limited, Mechel PAO and Sinoferro Dense Medium Powders Limited.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • A Prelude to Ferrosilicon
  • Global Economic Update
  • From Pandemic to War & Inflation: “Gloomy Outlook for 2023 Despite Signs of Easing Inflationary Conditions
  • Here’s How Inflationary Pressures Affect the Economy
  • Here’s What’s Causing Inflationary Pressures in the Global Market
  • Although Past Peak in 2023, Efforts to Solve the Inflation Puzzle Should Continue
  • Although Facing a Lower Recession Risk, Global Economic Growth in 2023 to Slowdown Amid War, Inflation, Elevated Interest Rates & Marginal Easing of Inflation: World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
  • COVID-19 Pandemic Impact on Ferrosilicon Demand
  • Global Market Prospects & Outlook
  • Deoxidizer in Steel Production and Inoculant in Casting Industry: Key Application Areas
  • Asia-Pacific Spearheads Long-term Growth in Ferrosilicon Market
  • Ferrosilicon Production: An Overview
  • Global Production of Silicon Metal and Ferrosilicon (in Thousand Metric Tons of Silicon Content) by Country for 2021 and 2022
  • Global Ferrosilicon Production by Country (in %) for 2022
  • Global Ferroalloys Production Breakdown (in %) by Alloy Type for 2023 (E)
  • Competitive Landscape
  • Ferrosilicon - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
  • World Brands
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Demand for Ferrosilicon as Deoxidizer in Steel Industry Fuels Market Prospects
  • Demand for Steel Returns as the Pandemic Subsides
  • COVID-19 Impact on Steel Production: % Change in Production Volume for Select Countries
  • Critical Importance of Steel in Every Aspect of Human Life to Create Conducive Environment for Future Growth
  • Steel Production & Trade: Statistical Insights
  • World Crude Steel Production (2012-2022) in Million Tons
  • Leading Steel Exporting Countries (2022): Exports (in Million Metric Tons) for China, Japan, European Union (27), South Korea, Germany, Türkiye, Russia, Italy, Belgium, Brazil, India, France, Taiwan, Netherlands, and Indonesia
  • Leading Steel Importing Countries (2022): Imports (in Million Metric Tons) for European Union (27), USA, Germany, Italy, Türkiye, China, South Korea, Thailand, Belgium, Poland, France, Vietnam, Indonesia, Mexico, and Netherlands
  • Electrical Steel Production Emerges as a Major Opportunity for Ferrosilicon
  • Global Construction Industry Scenario Influences Demand for Ferrosilicon
  • Prevailing Positive Trends in Construction Machinery Industry Favor Growth in Iron Ore Market
  • World Construction Industry (in US$ Trillion) for the Years 2017, 2019 & 2022
  • United States Housing Units Starts: 2015-2021 (Housing Units in Thousands)
  • Global Construction Growth Contribution by Country for the Period 2020-2030
  • Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
  • Automobile Production Dynamics Augment Market Prospects
  • World Automobile Production in Million Units: 2008-2022
  • Pandemic Impact on the Automotive Industry & What’s the New Normal?
  • Car Production YoY % Growth in 2020 Across Major Regional Markets
  • Global Production Capacity of the Automobile Industry (In Million Units) by Region for the Years 2017 and 2022
  • Shift towards Lighter Weight Vehicles to Drive Future Demand for Automotive Steel
  • Breakdown of Automotive Material Mix: 2023
  • Lightweighting Trend in Auto Parts: Average Weight of a Passenger Car (In Kgs) for the Years 1990, 2000, 2006, 2016 & 2019
  • Emissions Regulations Landscape in Major Countries/Regions
  • Steel Vs Aluminum: The Dilemma Continues for Better Lightweight Automotive Material
  • Demand Growth for Stainless Steel to Fuel Prospects in Ferrosilicon Market
  • World Stainless Steel Market: Percentage Breakdown of Volume Demand by Region for 2022
  • Global Stainless Steel Market: Breakdown of Share by End-Use Market for 2022
  • Global Stainless Steel Market Breakdown of Production (in %) by Region for 2020 (Historical Data)
  • Global Stainless Steel Market (2022E): Percentage Breakdown of Production by Segment
  • Global Stainless Steel Market (2022E): Percentage Breakdown by Product
  • Stainless Steel Continues to Reign Appliances Market
  • Growing Use Case in Diverse Applications Widens Future Prospects
  • Growing Use of Ferrosilicon as Inoculant in Casting Industry to Drive Market Gains
  • Magnesium Production Emerges as a Major End-Use market for Ferrosilicon
  • Global Primary Magnesium Production (in Thousand Metric Tons) for 2010-2022
  • Atomized Ferrosilicon Market Witnesses Robust Gains
  • Changes and Challenges Presented by Ferrosiliarecon Slag
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Ferrosilicon Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
  • Table 2: World Recent Past, Current & Future Analysis for Ferrosilicon by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 3: World Historic Review for Ferrosilicon by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 4: World 16-Year Perspective for Ferrosilicon by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2014, 2023 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for Deoxidizer by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 6: World Historic Review for Deoxidizer by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 7: World 16-Year Perspective for Deoxidizer by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 8: World Recent Past, Current & Future Analysis for Inoculants by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 9: World Historic Review for Inoculants by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 10: World 16-Year Perspective for Inoculants by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 11: World Recent Past, Current & Future Analysis for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 12: World Historic Review for Other Applications by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 13: World 16-Year Perspective for Other Applications by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 14: World Recent Past, Current & Future Analysis for Carbon & Alloy Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 15: World Historic Review for Carbon & Alloy Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 16: World 16-Year Perspective for Carbon & Alloy Steel by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 17: World Recent Past, Current & Future Analysis for Stainless Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 18: World Historic Review for Stainless Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 19: World 16-Year Perspective for Stainless Steel by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 20: World Recent Past, Current & Future Analysis for Electric Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 21: World Historic Review for Electric Steel by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 22: World 16-Year Perspective for Electric Steel by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 23: World Recent Past, Current & Future Analysis for Cast Iron by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 24: World Historic Review for Cast Iron by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 25: World 16-Year Perspective for Cast Iron by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
  • Table 26: World Recent Past, Current & Future Analysis for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2022 through 2030 and % CAGR
  • Table 27: World Historic Review for Other End-Uses by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2014 through 2021 and % CAGR
  • Table 28: World 16-Year Perspective for Other End-Uses by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2014, 2023 & 2030
III. MARKET ANALYSIS
UNITED STATES
  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2023 (E)
  • COVID-19 Dampens the US Ferrosilicon Market
  • US Production of Ferrosilicon and Silicon Metal (in Thousand Metric Tons) for 2016-2021
  • Average Price of Ferrosilicon (in Cents per Pound) for Ferrosilicon (50% Si) and Ferrosilicon (50% Si) for the Years 2016-2021
  • US Ferrosilicon Imports by Country (in %) for the Period 2017-20
  • US Steel Industry Dynamics Impact Demand for Ferrosilicon
  • American Steelmakers Invest in Local Projects amidst Falling Imports
  • Cutback in Shale Activity Impacts Steel Market
  • Pandemic Casts Shadow on Construction Industry, Affecting Ferrosilicon Demand
  • Number of Housing Starts in Thousand Units by Type for Single-Family Units and Multi-Family Units (Apr 2020-Feb 2022)
  • US Construction Value (in US$ Million) for Residential and Non-Residential Sectors for Feb-2021 to Feb-2022
  • Automotive Sales and Production Trends Shape Dynamics of Silicon and Ferrosilicon Market
  • US Vehicle Production (in Thousand Units) for 2013-2021
CANADA
JAPAN
  • Ferrosilicon Market: COVID-19 Impact on End-Use Sectors Affect Demand
CHINA
  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2023 (E)
  • China’s Leadership in Steel Industry Augurs Well for Ferrosilicon Market
  • Steel Production (in Million Tons) in China for the Years 2011-2021
  • Capacity Utilization (in %) for Steel Production in China (2008-2019)
  • Surprising Recovery in China amid COVID-19 Pandemic to Boost Steel Fortunes
  • Faster Resurgence in China to Offset Shrinking Global Steel Demand
  • Industry Embraces Technological Innovation in Production
  • Slowdown in Construction Sector Pulls Down the Ferrosilicon Market
  • Automotive Industry Influences Growth in Ferrosilicon Market
  • Largest Manufacturer of Cars
EUROPE
  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2023 (E)
  • Steel Demand Dynamics Impact Market Growth
  • COVID-19 Outbreak Exacerbates Already Challenging European Steel Market Situation
  • Recovery in Construction Activity Post COVID-19 Pandemic to Sustain Growth in Demand
FRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2023 (E)
  • Steel Industry Dynamics Amidst the COVID-19 Pandemic Trigger Mixed Regional Performances across Asia
AUSTRALIA
INDIA
  • Steel Demand in India to Grow Marginally after Deep Cuts in Output during Lockdown
  • Pandemic Puts Indian Steel Exports Come Under Severe Stress
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2023 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2023 (E)
AFRICA
  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2023 (E)
IV. COMPETITION

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Anyang Xinchuang Metallurgy Material Co., Ltd.
  • DMS Powders (Pty) Ltd.
  • Elkem ASA
  • Eurasian Resources Group
  • Ferroglobe PLC
  • Finnfjord AS
  • Imexsar
  • M & M Alloys Limited
  • Mechel PAO
  • Sinoferro Dense Medium Powders Limited
  • The Rima Group
  • Westbrook Resources Ltd