The North America and EMEA ferrosilicon market size is expected to reach USD 3.81 billion by 2028., growing at a CAGR of 2.6% during the forecast period. Increasing demand for ferrosilicon as inoculant and deoxidizer in industries including steel and iron casting is anticipated to propel the market growth over the coming years.
Rising demand for electrical steel in the production of motors, transformers, and amplifiers owing to its properties that improve the electrical resistivity is the major factor fueling the market growth. Moreover, increasing demand from applications, such as electricity transmission and distribution, power generation, automobiles, renewable energy, industrial machines, and home appliances, is further expected to drive the market over the forecast period.
The industry is facing strict government mandates and ups and downs in the raw material supply chain. These are some prime challenges that companies need to work upon. Manufacturers are investing in developing technologies to curb CO2 emissions and lower the energy consumption in the production of ferrosilicon by opting for biochar pellets and charcoal.
Established market players are opting for sustainable methods for manufacturing steel, which is one of the key applications of the market. For instance, in October 2020, ArcelorMittal Europe announced to produce green steel using CO2 technology, which enables to offer green solutions to the consumers. The company’s target is to reduce carbon footprints by 30% by 2030.
Ferrosilicon acts as a manufacturing additive in the production of steel and its products. Many key players of the steel industry are investing in mergers & acquisitions for product advancement. For instance, in January 2021, United States Steel Corp. acquired Big River Steel for approximately USD 774 million on account of manufacturing sustainable and high-strength steel. The steelmakers have collaborated to produce low-cost mini-mill technologies and focus on product innovation.
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Rising demand for electrical steel in the production of motors, transformers, and amplifiers owing to its properties that improve the electrical resistivity is the major factor fueling the market growth. Moreover, increasing demand from applications, such as electricity transmission and distribution, power generation, automobiles, renewable energy, industrial machines, and home appliances, is further expected to drive the market over the forecast period.
The industry is facing strict government mandates and ups and downs in the raw material supply chain. These are some prime challenges that companies need to work upon. Manufacturers are investing in developing technologies to curb CO2 emissions and lower the energy consumption in the production of ferrosilicon by opting for biochar pellets and charcoal.
Established market players are opting for sustainable methods for manufacturing steel, which is one of the key applications of the market. For instance, in October 2020, ArcelorMittal Europe announced to produce green steel using CO2 technology, which enables to offer green solutions to the consumers. The company’s target is to reduce carbon footprints by 30% by 2030.
Ferrosilicon acts as a manufacturing additive in the production of steel and its products. Many key players of the steel industry are investing in mergers & acquisitions for product advancement. For instance, in January 2021, United States Steel Corp. acquired Big River Steel for approximately USD 774 million on account of manufacturing sustainable and high-strength steel. The steelmakers have collaborated to produce low-cost mini-mill technologies and focus on product innovation.
North America And EMEA Ferrosilicon Market Report Highlights
- The stainless steel application segment led the market in 2020 due to the high consumption of stainless steel in the production of utensils and surgical instruments
- Cast iron is expected to register a growth rate of 2.5%, in terms of revenue, from 2021 to 2028 owing to its growing deployment in various applications
- Growing emphasis on creating differentiation in cookware products and the making of machines & automotive parts has led to the growth of the cast iron market
- Europe dominated the market with more than 63% share of the total revenue in 2020. Growing business opportunities in the ferroalloys and steel industry coupled with rising emphasis on crude steel production in Europe is anticipated to drive the product demand over the forecast period
- Middle East and Africa are expected to exhibit a CAGR of 2.3%, in terms of revenue, from 2021 to 2028. The demand for the machinery of the oil & gas industry is high in the region for carrying out exploration & production activities, which, in turn, is expected to drive the market
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Table of Contents
Chapter 1. Methodology and Scope1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. The Publisher's Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Insights
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. North America & EMEA Ferrosilicon Market Variables, Trends & Scope
3.1. Market Outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Raw Material Trends
3.3.2. Manufacturing & Technology Trends
3.3.3. Sales Channel Analysis
3.4. North America & EMEA Ferrosilicon Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Market Opportunities Analysis
3.4.4. Market Challenge Analysis - Impact of COVID-19
3.5. North America & EMEA Ferrosilicon Industry Analysis - Porter's
3.5.1. Supplier Power
3.5.2. Buyer Power
3.5.3. Substitution Threat
3.5.4. Threat from New Entrant
3.5.5. Competitive Rivalry
3.6. North America & EMEA Ferrosilicon Industry Analysis - Pestel
3.6.1. Political Landscape
3.6.2. Economic Landscape
3.6.3. Social Landscape
3.6.4. Technology Landscape
3.6.5. Environmental Landscape
3.6.6. Legal Landscape
Chapter 4. North America & EMEA Ferrosilicon Market: Application Estimates & Trend Analysis
4.1. Application Movement Analysis & Market Share, 2020 & 2028
4.2. Carbon & Alloy Steel
4.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
4.3. Stainless Steel
4.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
4.4. Electrical Steel
4.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
4.5. Cast Iron
4.5.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
4.6. Others
4.6.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
Chapter 5. North America & EMEA Ferrosilicon Market: Regional Estimates & Trend Analysis
5.1. Regional Movement Analysis & Market Share, 2020 & 2028
5.2. North America
5.2.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.2.2. Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.2.3. U.S.
5.2.3.1 Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.2.3.2 Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.2.4. Canada
5.2.4.1 Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.2.4.2 Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.2.5. Mexico
5.2.5.1 Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.2.5.2 Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.3. Europe
5.3.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.3.2. Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.3.3. Russia
5.3.3.1 Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.3.3.2 Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.3.4. Germany
5.3.4.1 Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.3.4.2 Market Estimates and Forecast, by Application, 2020 - 2028 (USD Million) (Kilotons)
5.3.5. U.K.
5.3.5.1 Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.3.5.2 Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.4. Middle East & Africa
5.4.1. Market Estimates and Forecast, 2017 - 2028 (USD Million) (Kilotons)
5.4.2. Market Estimates and Forecast, by Application, 2017 - 2028 (USD Million) (Kilotons)
5.4.3. Gcc
5.4.3.1 Market Estimates and Forecast, 2017 - 2028 (USD Billion)
5.4.3.2 Market Estimates and Forecast, by Application, 2017 - 2028 (USD Billion)
Chapter 6. Competitive Analysis
6.1. Key Players, Recent Developments & Their Impact on the Industry
6.2. Company Categorization (Key Innovators, Market Leaders, Emerging Players)
6.3. Vendor Landscape
6.3.1. List of Raw Material Suppliers, Distributors, and Other Prominent Manufacturers
6.3.2. List of Potential Customers
Chapter 7. Company Profiles
7.1. Eurasian Resources Group
7.1.1. Company Overview
7.1.2. Financial Performance
7.1.3. Product Benchmarking
7.1.4. Strategic Initiatives
7.2. Ferroglobe
7.2.1. Company Overview
7.2.2. Financial Performance
7.2.3. Product Benchmarking
7.2.4. Strategic Initiatives
7.3. Eti Elektrometalurji As
7.3.1. Company Overview
7.3.2. Product Benchmarking
7.3.3. Strategic Initiatives
7.4. Elkem Asa.
7.4.1. Company Overview
7.4.2. Financial Performance
7.4.3. Product Benchmarking
7.4.4. Strategic Initiatives
7.5. Iran Ferroalloys Co.
7.5.1. Company Overview
7.5.2. Product Benchmarking
7.5.3. Strategic Initiatives
7.6. Finnfjord As.
7.6.1. Company Overview
7.6.2. Product Benchmarking
7.6.3. Strategic Initiatives
7.7. Thyssenkrupp Materials Trading GmbH
7.7.1. Company Overview
7.7.2. Financial Performance
7.7.3. Product Benchmarking
7.7.4. Strategic Initiatives
7.8. Huta Laziska Sa
7.8.1. Company Overview
7.8.2. Product Benchmarking
7.8.3. Strategic Initiatives
7.9. Metalleghe Group
7.9.1. Company Overview
7.9.2. Product Benchmarking
7.9.3. Strategic Initiatives
7.10. Efaco
7.10.1. Company Overview
7.10.2. Product Benchmarking
7.10.3. Strategic Initiatives
List of Tables
Table 1 Carbon & alloy steel market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 2 Stainless steel market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 3 Electrical steel market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 4 Cast iron market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 5 Other applications market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 6 North America ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 7 North America ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 8 North America ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 9 U.S. ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 10 U.S. ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 11 U.S. ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 12 Canada ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 13 Canada ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 14 Canada ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 15 Mexico ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 16 Mexico ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 17 Mexico ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 18 Europe ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 19 Europe ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 20 Europe ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 21 Russia ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 22 Russia ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 23 Russia ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 24 Germany ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 25 Germany ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 26 Germany ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 27 U.K. ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 28 U.K. ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 29 U.K. ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 30 Middle East & Africa ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 31 Middle East & Africa ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 32 Middle East & Africa ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)
Table 33 GCC ferrosilicon market estimates and forecast, 2017 - 2028 (USD Million) (Kilotons)
Table 34 GCC ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (USD Million)
Table 35 GCC ferrosilicon market revenue estimates and forecast by application, 2017 - 2028 (Kilotons)List of Figures
Fig 1. North America & EMEA Ferrosilicon Market Segmentation & Scope
Fig 2. Information Procurement
Fig 3. Primary Research Pattern
Fig 4. Primary Research Process
Fig 5. Primary Research Approaches
Fig 6. North America & EMEA Ferrosilicon Market Outlook
Fig 7. Penetration & Growth Prospect Mapping
Fig 8. Value Chain Analysis
Fig 9. Market Driver Analysis
Fig 10. Market Restraint Analysis
Fig 11. North America & EMEA Ferrosilicon Market: Application Movement Analysis
Fig 12. North America & EMEA Ferrosilicon Market: Regional Movement Analysis
Companies Mentioned
- Efaco
- Elkem Asa.
- Eti Elektrometalurji As
- Eurasian Resources Group
- Ferroglobe
- Finnfjord As.
- Huta Laziska Sa
- Iran Ferroalloys Co.
- Metalleghe Group
- Thyssenkrupp Materials Trading Gmbh
Methodology
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