Ferroalloys Market Research 2023: A Comprehensive Study
Ferroalloys Industry | Forecast 2030
Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market
Grand View Research’s ferroalloys industry data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.
Ferroalloys Industry Data Book Coverage Snapshot
Markets Covered
- Ferroalloys Industry USD 42.7 billion in 2020, 7.1% CAGR (2021-2028)
- Ferro Manganese Market Size USD 14.2 billion in 2019, 4.0% CAGR (2020-2027)
- Silico Manganese Market Size USD 26.74 billion in 2021, 6.5% CAGR (2022-2033)
- Ferrochrome Market Size USD 16.77 billion in 2018, 4.6% CAGR (2019-2030)
Access the Global Ferroalloys Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Ferro Manganese Market Growth & Trends
The global ferro manganese market size is expected to reach USD 19.4 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.0% from 2020 to 2027. The increasing popularity of cast iron cookware is projected to aid market growth over the forecast period.
Ferro manganese is widely used as a sulfur counterpart in the production of cast iron. The ability of the product to remove sulfur contaminants by forming manganese sulfide offers a great advantage as it can easily be removed as slag. The cast iron production historically has observed tremendous growth, for instance, global cast iron production has grown from nearly 54 million tons to approximately 96 million tons from 2000 to 2019. The use of cast iron, especially in cookware, has witnessed a steady climb owing to its ability to offer non-sticky, anti-rust, and durable quality utensils. Thus, the rising production of cast iron is projected to remain a key driver for the market over the forecast period.
Order your copy of the Free Sample of “Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Ferrochrome Market Growth & Trends
The global ferrochrome market size is anticipated to reach USD 28.83 billion by 2030,expanding at a 4.6% CAGR during the forecast period, according to a new report by Grand View Research, Inc. The market is mainly driven by demand from booming stainless steel industry especially in Asia. Stainless steel industry accounts for roughly more than 75% of the FeCr consumption in the globe. China, being the largest stainless steel producer is therefore also the biggest consumer of FeCr.
The global stainless steel production is predicted to witness considerable growth over the coming years owing to strong demand from building & construction industry. Stainless steel is largely consumed in building & construction industry due to its aesthetic appearance and corrosion resistance properties. Moreover, a variety of stainless steel products are easily fabricated and therefore, preferred by architects and building contractors.
Silico Manganese Market Growth & Trends
The global silico manganese market size is expected to reach USD 57.19 billion by 2033, according to a new report by Grand View Research, Inc, expanding at a CAGR of 6.5% over the forecast period. Increasing investments in construction activities across the globe are expected to boost the demand for steel, which is anticipated to positively influence the market growth of silico manganese over the forecast period.
For instance, In November 2021, Bahrain announced plans to invest USD 30.00 billion for the creation of five new cities on its manmade islands. The project is a part of the government’s efforts to boost its economy post-pandemic. In addition, the governments of different countries across the Middle East & Africa are investing in tourism and hotel development projects.
Go through the table of content of Ferroalloys Industry Data Book to get a better understanding of the Coverage & Scope of the study
Ferrosilicon Market Growth & Trends
The global ferrosilicon market size is expected to reach USD 13.67 billion by 2030, registering a CAGR of 2.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for ferrosilicon in the steel and cast iron industries is anticipated to contribute to market growth over the forecast period. Ferrosilicon is used as a deoxidizer in the steel industry to prevent the loss of carbon during the production process. As a result, rising investment in the steel industry is anticipated to augment the market growth. For instance, in January 2022, POSCO commenced construction of a new galvanized steel plant in Tangshan, Hebei, China, which is jointly owned by HBIS Group.
The USD 600 million plants are anticipated to have an annual production capacity of 900 kilotons and will supply galvanized steel sheets to the automotive industry. Furthermore, due to their long life span and good compressive strength, cast iron pipes are widely used in plumbing applications. Companies involved in cast iron pipe production are expanding their capacity, thereby fueling ferrosilicon consumption. For instance, in December 2021, AMERICAN SpiralWeld Pipe Company, a producer of cast iron pipe, announced its decision to invest USD 40 million to expand its operation in Richland County, U.S. Furthermore, rising investments in China’s construction industry are expected to benefit market growth.
Competitive Insights
The industry is expected to witness additional investments from established major companies in the next years owing to the competitive market outlook. For instance, Zimasco, a Sinosteel Corporation affiliate, has announced an investment of USD 35.0 million for the expansion of ferrochrome manufacturing capacity. A new project with an increased capacity of 72 kilotons per year is planned to start at the Kwekwe ferrochrome smelting plant. The market is expected to see more competitive rivalry as production capacities rise to fulfil the demand for steel.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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