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Ferro Silicon Market by Type (Atomized Ferrosilicon, Milled ferrosilicon), Application (Deoxidizer, Inoculants), End-use Industry (Stainless Steel, Cast Iron, Magnesium), and Region (Asia Pacific, Europe, North America, MEA, SA) - Global Forecast to 2028

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  • 174 Pages
  • November 2023
  • Region: Global
  • Markets and Markets
  • ID: 5909468

The ferrosilicon market is projected to reach USD 12.9 billion by 2028, at a CAGR of 3.4% from USD 10.9 billion in 2023. The growing automotive and construction industry is a key catalyst for the expansion of the steel market, consequently propelling the demand for ferrosilicon. This demand surge is primarily propelled by factors like the growth of industries, increased investments in infrastructure projects, smart cities, and advancements in technology. Additionally, increasing global population, rising middle-class incomes, and changing consumer preferences for durable goods contribute to the growing demand for ferrosilicon in various industries.  

Stainless- steel segment is expected to account for the second-largest share in 2022.

Stainless steel, a highly versatile and widely used alloy, relies on the significant contributions of ferrosilicon in its production process. Ferrosilicon acts as a deoxidizing agent and facilitates the removal of impurities, ensuring the desired chemical composition and microstructure of stainless steel. Stainless steel finds extensive use in industries such as construction, automotive, manufacturing, and consumer goods, where its corrosion resistance, hygiene, and aesthetic appeal are highly valued. Its applications range from kitchen appliances, cutlery, and medical equipment to architectural components, industrial machinery, and transportation infrastructure.

Based on region, Asia Pacific region was the largest market for ferrosilicon in 2022, in terms of value.

The Asia Pacific market is experiencing a significant surge in the demand for ferrosilicon, attributable to the rapid industrialization, infrastructure expansion, and robust manufacturing activities in the region. The flourishing automotive sector, coupled with the expanding construction industry and increasing investments in diverse manufacturing processes, has led to a substantial requirement for ferrosilicon to cater to the escalating need for superior-quality steel and other alloy products. Moreover, the region's continuous technological advancements and emphasis on energy-efficient materials have further accentuated the significance of ferrosilicon, primarily for its role in enhancing the properties of steel and other alloys. The Asia Pacific market's strong inclination toward sustainable and long-lasting materials, combined with its sustained economic growth and evolving consumer preferences, continues to drive the demand for ferrosilicon across various industries. 

In the process of determining and verifying the market size for several segments and subsegments identified through secondary research, extensive primary interviews were conducted.

A breakdown of the profiles of the primary interviewees are as follows:

By Company Type: Tier 1 - 35%, Tier 2 - 45%, and Tier 3 - 20%
By Designation: C-Level - 35%, Director Level - 25%, and Others - 40% 
By Region: North America - 30%, Europe - 20%, Asia Pacific - 40%, Middle East & Africa-5%, and Latin America-5%

The key players in this market are include Elkem (Norway), RFA International (Switzerland), DMS Powders (South Africa), Ferroglobe (UK), Eurasian Resources Group (Luxembourg), Feng Erda Group (China), Finnfjord AS (Norway), Mechel PAO (Russia), Om Holdings Ltd (Singapore), Maithan Alloys Ltd (India).

Research Coverage

This report segments the market for ferrosilicon market on the basis of type, application, end-use industry region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for ferrosilicon market.

Key benefits of buying this report

This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the ferrosilicon market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following:

  • Analysis of key drivers (Robust demand for steel in automotive, construction, and manufacturing industry), restraints (Stringent environmental regulations), opportunities (Expansion of industrialization and infrastructure development in the emerging markets, the shift towards electric vehicle from internal combustion engines) and challenges (Fluctuations in raw material cost) influencing the growth of the ferrosilicon market 
  • Market Penetration: Comprehensive information on ferrosilicon market offered by top players in the global ferrosilicon market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the ferrosilicon market.
  • Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for ferrosilicon market across regions.
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global ferrosilicon market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the ferrosilicon market

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Scope of the Study
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Units Considered
1.6 Stakeholders
1.7 Inclusions & Exclusions
1.8 Recession Impact

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data Key Data from Secondary Sources Ferrosilicon Market Analysis Through Secondary Sources
2.1.2 Primary Data Key Data from Primary Sources Key Industry Insights Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Forecast Growth Estimation
2.4 Data Triangulation
2.5 Factor Analysis
2.6 Assumptions
2.7 Limitations & Risks Associated with Ferrosilicon Market
2.8 Recession Impact

3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in Ferrosilicon Market
4.2 Asia-Pacific: Ferrosilicon Market, by End-Use Industry and Country
4.3 Ferrosilicon Market, by Type
4.4 Ferrosilicon Market, by End-Use Industry
4.5 Ferrosilicon Market, by Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.2 Restraints
5.2.3 Opportunities
5.2.4 Challenges
5.3 Value Chain Analysis
5.3.1 Raw Material Suppliers
5.3.2 Manufacturers
5.3.3 Distributors
5.3.4 End Consumers
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry
5.5 Patent Analysis
5.6 Trade Analysis
5.7 Ecosystem/ Market Map
5.8 Trends/Disruptions Impacting Customer’s Business
5.9 Technology Analysis
5.10 Key Conferences and Events in 2023-2024
5.11 Case Studies
5.12 Macroeconomic Overview and Key Trends
5.12.1 Introduction
5.12.2 Trends and Forecast of GDP
5.13 Tariff & Regulatory Landscape
5.13.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.14 Pricing Analysis
5.14.1 Average Selling Price Trends of Key Players, by End- Use Industry
5.14.2 Average Selling Price Trends, by Region
5.15 Key Stakeholders and Buying Criteria
5.15.1 Key Stakeholders in Buying Process
5.15.2 Buying Criteria

6 Ferrosilicon Market, by Type
6.1 Introduction
6.2 Atomized Ferrosilicon
6.3 Milled Ferrosilicon

7 Ferrosilicon Market, by Applications
7.1 Introduction
7.2 Deoxidizer
7.3 Inoculants

8 Ferrosilicon Market, by End-Use Industry
8.1 Introduction
8.2 Carbon & Other Alloy Steel
8.3 Stainless Steel
8.4 Electric Steel
8.5 Cast Iron
8.6 Others

9 Ferrosilicon Market, by Region
9.1 Introduction
9.2 Asia-Pacific
9.2.1 Recession Impact
9.2.2 China
9.2.3 Japan
9.2.4 India
9.2.5 South Korea
9.2.6 Rest of Asia-Pacific
9.3 North America
9.3.1 Recession Impact
9.3.2 US
9.3.3 Canada
9.3.4 Mexico
9.4 Europe
9.4.1 Recession Impact
9.4.2 Germany
9.4.3 Italy
9.4.4 France
9.4.5 Spain
9.4.6 UK
9.4.7 Russia
9.4.8 Rest of Europe
9.5 Middle East & Africa
9.5.1 Recession Impact
9.5.2 UAE
9.5.3 Saudi Arabia
9.5.4 South Africa
9.5.5 Rest of Middle East & Africa
9.6 South America
9.6.1 Recession Impact
9.6.2 Brazil
9.6.3 Argentina
9.6.4 Rest of South America

10 Competitive Landscape
10.1 Introduction
10.2 Key Players Strategies/Right to Win
10.3 Market Share Analysis
10.3.1 Ranking of Key Market Players
10.3.2 Market Share of Key Players, 2022
10.4 Revenue Analysis
10.5 Company Evaluation Matrix
10.5.1 Stars
10.5.2 Emerging Leaders
10.5.3 Pervasive Players
10.5.4 Participants
10.5.5 Company Footprint
10.6 Start-Up/SME Evaluation Matrix
10.6.1 Progressive Companies
10.6.2 Responsive Companies
10.6.3 Dynamic Companies
10.6.4 Starting Blocks
10.6.5 Competitive Benchmarking
10.7 Competitive Scenario and Trends
10.7.1 New Product Launches
10.7.2 Deals
10.7.3 Other Developments

11 Company Profiles
11.1 Elkem Asa
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Product Launches, Deals, Other Developments, Analyst's View, Key Strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats)*
11.2 Ferroglobe
11.3 DMS Powders
11.4 Eurasian Resources Group
11.5 Mechel Pao
11.6 OM Holdings Ltd.
11.7 Finnfjord.
11.8 Russian Ferro-Alloys Inc.
11.9 Fengerda Group
11.10 Maithan Alloys
11.11 Other Companies
11.11.1 SC Feral Srl.
11.11.2 SKP Group
11.11.3 Tashi Group
11.11.4 Oren Hydrocarbons
11.11.5 Jayesh Group
11.11.6 Singhania International Ltd.
11.11.7 Asian Steel Industries
11.11.8 Hindustan Alloys Private Ltd.
11.11.9 Tashi Group
11.11.10 Shanghai Shenjia Ferroalloys Co. Ltd.
11.11.11 VBC Ferroalloys
11.11.12 Sinosteel Corporation
11.11.13 Huta Laziska S.A.
11.11.14 Mintal Group
11.11.15 Sham Metallics and Energy Ltd.

12 Appendix

Companies Mentioned

  • Ferroglobe
  • DMS Powders
  • Eurasian Resources Group
  • Mechel Pao
  • OM Holdings Ltd.
  • Finnfjord.
  • Russian Ferro-Alloys Inc.
  • Fengerda Group
  • Maithan Alloys
  • SC Feral Srl.
  • SKP Group
  • Tashi Group
  • Oren Hydrocarbons
  • Jayesh Group
  • Singhania International Ltd.
  • Asian Steel Industries
  • Hindustan Alloys Private Ltd.
  • Tashi Group
  • Shanghai Shenjia Ferroalloys Co. Ltd.
  • VBC Ferroalloys
  • Sinosteel Corporation
  • Huta Laziska S.A.
  • Mintal Group
  • Sham Metallics and Energy Ltd.

Table Information