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 industry report, size, share, trends, 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 an alloy composed primarily of iron and silicon, with varying amounts of other elements like manganese and aluminum. It is known for its ability to increase the strength and durability of steel when added during the steelmaking process. It helps deoxidize and desulfurize molten steel, which improves its quality. It plays a vital role in enhancing the properties of various materials across multiple industrial applications. It is applied in water treatment processes to remove impurities and contaminants from water sources. Ferrosilicon is used in the production of cast iron, as a source of silicon in the chemical industry, and in the manufacturing of certain types of magnets. It is widely utilized in various industries, including the steel and foundry sectors.

Global Ferrosilicon Market Trends and Drivers:

The increasing demand for steel in construction, automotive, and infrastructure projects represents one of the primary factors driving the need for ferrosilicon to enhance the quality and strength of steel around the world. Moreover, the rising adoption of ferrosilicon in the foundry industry as a source of silicon in the production of cast iron is favoring the growth of the market. In addition, the growing employment of ferrosilicon as a deoxidizing agent in welding applications to help remove impurities from the welding material and ensure a clean and strong weld is influencing the market positively. Apart from this, the increasing emphasis on lightweight, high-strength materials is catalyzing the use of ferrosilicon in the production of specialized steel alloys. Along with this, the rising inclination towards lightweight and high performance vehicles on account of rapid urbanization and inflating income levels is contributing to the market growth. Furthermore, the growing use of ferrosilicon in the agricultural sector as a soil conditioner to supply silicon to plants, which promotes their growth and overall health, is creating a positive outlook for the market.

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., Westbrook Resources Ltd., etc.

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

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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