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Ferrosilicon - Global Market Trajectory & Analytics

  • ID: 338632
  • Report
  • February 2022
  • Region: Global
  • 327 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • DMS Powders (Pty) Ltd
  • Elkem AS
  • Eurasian Resources Group
  • Ferroglobe PLC
  • Finnfjord AS
  • Imexsar

Global Ferrosilicon Market to Reach $10.8 Billion by 2026


Ferrosilicon is an alloy of silicon, iron, coke, and coal. It is primarily used in cast iron and steel applications owing to its superior properties such as hardness, high strength, and resistance to high temperatures and corrosion. Close to 90% of ferrosilicon is used in producing steel and iron. Growth in the global market is set to be driven by growing demand for ferrosilicon as an inoculant and deoxidizer across several end-use industries. Electrical steel, which is also known as silicon steel, utilizes considerable amount of ferrosilicon and silicon to enhance steel`s electrical properties such as resistivity. Increasing demand for electrical steel in manufacturing motors, transformers and other power generating devices is expected to boost the demand for ferrosilicon. Automotive bodies, structural supports and bridges are required to last long without undergoing corrosion. Hence, several companies have been preferring ferrosilicon in automobile and construction for long lasting quality. Alloying ferrosilicon with other metals makes it useful in producing semiconductors, which are in great demand by the electronics industry.

Amid the COVID-19 crisis, the global market for Ferrosilicon estimated at US$9 Billion in the year 2020, is projected to reach a revised size of US$10.8 Billion by 2026, growing at a CAGR of 3.1% over the analysis period. Deoxidizer, one of the segments analyzed in the report, is projected to grow at a 3% CAGR to reach US$8.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Inoculants segment is readjusted to a revised 3.5% CAGR for the next 7-year period. This segment currently accounts for a 17.9% share of the global Ferrosilicon market. The growing need for deoxidization of various ferrous alloys in steel manufacturing process, as well as in the processing industry is expected to favor growth prospects for Deoxidizer segment. By adding inoculants to iron, the risk of gas formation, dross formation tendency, metal interface defects and micro shrinkage is reduced, which in turn contributes to high demand of inoculants in the manufacture of gray as well as duct iron.



The U.S. Market is Estimated at $450.8 Million in 2021, While China is Forecast to Reach $6.5 Billion by 2026


The Ferrosilicon market in the U.S. is estimated at US$450.8 Million in the year 2021. The country currently accounts for a 4.87% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$6.5 Billion in the year 2026 trailing a CAGR of 3.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 2.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach US$6.7 Billion by the end of the analysis period. Asia-Pacific represents the leading market for ferrosilicon riding on its status as the leading producer of steel across the world. Growth is being driven by the construction and automotive industries across Asia-Pacific specifically in India and China.

By End-Use, Carbon & Alloy Steel Segment to Reach $5.6 Billion by 2026


Globally, manufacturers of alloyed, stainless steel and carbon steel represent the major buyers of ferrosilicon. The rising demand for ferrosilicon as oxidizer in carbon as well as other alloy steel production activities is expected to fuel market growth. In the global Carbon & Alloy Steel (End-Use) segment, USA, Canada, Japan, China and Europe will drive the 2.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.8 Billion in the year 2020 will reach a projected size of US$4.7 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$714.4 Million by the year 2026, while Latin America will expand at a 2.9% CAGR through the analysis period.

Select Competitors (Total 39 Featured) -

  • China National BlueStar (Group) Co., Ltd.
  • Elkem AS
  • Ferroglobe PLC
  • The Rima Group
  • M & M Alloys Limited
  • Imexsar
  • Sinoferro Dense Medium Powders Limited
  • Anyang Xinchuang Metallurgy Material Co., Ltd.
  • DMS Powders (Pty) Ltd
  • Westbrook Resources Ltd
  • Eurasian Resources Group
  • Ferro Alloys Corporation Limited (FACOR)
  • Mechel PAO
  • Finnfjord AS
Frequently Asked Questions about the Global Market for Ferrosilicon

What is the estimated value of the Global Market for Ferrosilicon?

The Global Market for Ferrosilicon was estimated to be valued at $9.0 Billion in 2020.

What is the growth rate of the Global Market for Ferrosilicon?

The growth rate of the Global Market for Ferrosilicon is 3.1%, with an estimated value of $10.8 Billion by 2026.

What is the forecasted size of the Global Market for Ferrosilicon?

The Global Market for Ferrosilicon is estimated to be worth $10.8 Billion by 2026.

Who are the key companies in the Global Market for Ferrosilicon?

Key companies in the Global Market for Ferrosilicon include China National BlueStar (Group) Co., Ltd., Elkem AS, Ferroglobe PLC, The Rima Group, M & M Alloys Limited, Imexsar, Sinoferro Dense Medium Powders Limited, Anyang Xinchuang Metallurgy Material Co., Ltd. and Westbrook Resources Ltd.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • DMS Powders (Pty) Ltd
  • Elkem AS
  • Eurasian Resources Group
  • Ferroglobe PLC
  • Finnfjord AS
  • Imexsar

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • COVID-19 Outbreak Hampers Ferrosilicon Demand
  • COVID-19 Crisis Induced Demand Erosion Hampers World Steel Industry
  • Global PMI Index Points for the Years 2018, 2019 & 2020
  • Ferrosilicon - Global Key Competitors Percentage Market Share in 2022 (E)
  • A Prelude to Ferrosilicon
  • 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 2019 and 2020
  • Global Ferrosilicon Production by Country (in %) for 2020E
  • Global Ferroalloys Production Breakdown (in %) by Alloy Type for 2020E
  • Import-Export Statistics
  • Global Ferrosilicon Exports Volume Breakdown (in %) by Country for 2019
  • Global Ferrosilicon Exports Value Breakdown (in %) by Country for 2019
  • Global Ferrosilicon Imports Volume Breakdown (in %) by Country for 2019
  • Global Ferrosilicon Imports Value Breakdown (in %) by Country for 2019
  • Competition
  • World Brands
  • Recent Market Activity
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Demand for Ferrosilicon as Deoxidizer in Steel Industry Fuels Market Prospects
  • COVID-19 Outbreak Affects Steel Production and Demand, Influencing Market Prospects
  • COVID-19 Impact on Steel Production: % Change in Production Volume for Select Countries (2020E)
  • Impact of COVID-19 Pandemic on Steel Markets in Select Regions
  • Steel Production & Trade: Statistical Insights
  • Top Steel Producing Countries Worldwide Ranked by Production Volume (in Million Tonnes) for 2020E
  • Leading Steel Exporting Countries: Ranked by Export Volume (in Million Metric Tons) by Country for 2020E
  • Leading Steel Importing Countries Ranked by Import Volume (in Million Metric Tons) by Country for 2020E
  • Electrical Steel Production Emerges as a Major Opportunity for Ferrosilicon
  • Global Construction Industry Scenario Influences Demand for Ferrosilicon
  • Despite the Depressed Short-term Outlook, Long-term Prospects in Construction Industry Remain Promising
  • Global Construction Reset & Trajectory: Growth Outlook (In %) For Years 2019 Through 2025
  • Global Infrastructure Spending: Projected Infrastructure Investment Needs (in $ Trillion) by Sector Over the Period 2016-2040
  • Current Prospects Remain Lackluster for Ferrosilicon in Depressed Automotive Industry
  • World Automobile Production in Million Units: 2008-2022
  • Shift towards Lighter Weight Vehicles to Drive Future Demand for Automotive Steel
  • Breakdown of Automotive Material Mix: 2020
  • 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 2020
  • Global Stainless Steel Market: Breakdown of Share by End-Use Market for 2020
  • Global Stainless Steel Market Breakdown of Production (in %) by Region for 2020
  • 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 2010-2020

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • COVID-19 Dampens the US Ferrosilicon Market
  • US Production of Ferrosilicon and Silicon Metal (in Thousand Metric Tons) for 2016-2020
  • Average Price of Ferrosilicon (in Cents per Pound) for Ferrosilicon (50% Si) and Ferrosilicon (50% Si) for the Years 2016-2020
  • US Ferrosilicon Imports by Country (in %) for the Period 2016-19
  • 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
  • US Construction Spending in US$ Billion for the Period January 2012 to January 2020
  • Number of Housing Starts in Thousand Units by Type for Single-Family Units and Multi-Family Units (Apr 2020-Apr 2021)
  • US Construction Value (in US$ Million) for Residential and Non-Residential Sectors for Apr-2020 to Apr-2021
  • Automotive Sales and Production Trends Shape Dynamics of Silicon and Ferrosilicon Market
  • US Vehicle Production (in Thousand Units) for 2013-2020E

CANADA

JAPAN

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
  • Ferrosilicon Market: COVID-19 Impact on End-Use Sectors Affect Demand

CHINA

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • China’s Leadership in Steel Industry Augurs Well for Ferrosilicon Market
  • Steel Production (in Million Tons) in China for the Years 2011-2020
  • 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 2022 (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

FRANCE

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Steel Industry Dynamics Amidst the COVID-19 Pandemic Trigger Mixed Regional Performances across Asia

AUSTRALIA

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
  • Steel Demand in India to Grow Marginally after Deep Cuts in Output during Lockdown
  • Pandemic Puts Indian Steel Exports Come Under Severe Stress

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

AFRICA

  • Ferrosilicon Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 39
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • China National BlueStar (Group) Co., Ltd.
  • Elkem AS
  • Ferroglobe PLC
  • The Rima Group
  • M & M Alloys Limited
  • Imexsar
  • Sinoferro Dense Medium Powders Limited
  • Anyang Xinchuang Metallurgy Material Co., Ltd.
  • DMS Powders (Pty) Ltd
  • Westbrook Resources Ltd
  • Eurasian Resources Group
  • Ferro Alloys Corporation Limited (FACOR)
  • Mechel PAO
  • Finnfjord AS
Note: Product cover images may vary from those shown