Global Ferrosilicon Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Ferrosilicon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global ferrosilicon market price trends, share, size, , and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global ferrosilicon market size reached US$ 12.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 14.0 Billion by 2028, exhibiting a growth rate (CAGR) of 2.4% during 2023-2028.
Ferrosilicon is a specific type of ferroalloy that consists of iron and silicon (Si) as its main components. It is produced by smelting a mixture of iron ore, silicon sources, and a reducing agent in an electric arc furnace or a submerged arc furnace. It acts as a deoxidizing agent in steelmaking processes, which facilitates the removal of oxygen from molten steel. It helps to improve the mechanical properties, strength, and hardness of these materials. It also enhances resistance to corrosion and oxidation. It is commonly used as an alloying agent in the production of steel and cast iron.
Global Ferrosilicon Market Trends and Drivers:
The increasing use of ferrosilicon to deoxidize and desulfurize molten steel, which improves its quality and reduces impurities, represents one of the primary factors favoring the market growth around the world. Moreover, the rising adoption of ferrosilicon as a precursor in the chemical industry for producing various silicon based compounds and chemicals is propelling the growth of the market. Apart from this, ferrosilicon is employed in the construction industry as an additive in concrete and construction materials to improve their properties, such as increasing the density, reducing permeability, and enhancing the durability of concrete structures. Along with this, the growing construction projects in commercial areas are influencing the market positively.
Global Ferrosilicon Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: China National Bluestar (Group) Co. Ltd. (China National Chemical Corporation), DMS Powders, Eurasian Resources Group, Ferroglobe PLC, Finnfjord AS, Hindustan Alloys Private Limited, Indian Metals & Ferro Alloys Limited, Maithan Alloys Limited, Mechel PAO, OM Holdings Ltd. and Westbrook Resources Ltd.
The report segmented the market on the basis of region, type, application and end user.
Breakup by Type:
- Atomized Ferrosilicon
- Milled Ferrosilicon
Breakup by Application:
- Deoxidizer
- Inoculant
- Others
Breakup by End User:
- Carbon and Other Alloy Steel
- Stainless Steel
- Electric Steel
- Cast Iron
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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