Ferroalloys Market Report, Size, Industry Share and Opportunity Assessment 2022-2027

According to IMARC Group latest report titled “Ferroalloys Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on ferroalloys market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global ferroalloys market reached a value of US$ 71 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 105 Billion by 2027, exhibiting a CAGR of 7.3% during 2022-2027.

Ferroalloys refer to iron-based alloys formed by the carbothermic reaction process. They comprise various elements, such as aluminum, manganese, chromium, titanium, boron, phosphorus, silicon, etc., that are vital additives in the production of specialty steel and superalloys. Some of the commonly utilized ferroalloys include ferrochromium, ferromolybdenum, ferrovanadium, ferromanganese, ferrotitanium, ferroboron, ferrophosphorus, etc. They are widely used as additives for improving tensile strength, durability, and magnetism of numerous metals. Ferroalloys are also utilized in the manufacturing of switches, wires, automobile radiators, water heaters, refrigerators, metal casings, chemical processing equipment, etc. As such, they find extensive applications across several sectors, such as residential, commercial, transportation, etc.

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Market Trends:

Ferroalloys refer to a group of alloys composed mainly of iron and one or more other elements such as silicon, manganese, chromium, and others. These alloys are primarily used in the production of steel and other iron-based alloys. The ferroalloys market is a critical component of the global steel industry, and its demand is driven by the growth of steel production. The ferroalloys market is highly fragmented, with numerous small and medium-sized players operating in the industry.

The ferroalloys market faces several challenges, such as fluctuating raw material prices, stringent environmental regulations, and increasing competition from alternative materials. The industry is also highly dependent on the steel industry’s growth, and any slowdown in the steel industry can significantly affect the demand for ferroalloys.

The expanding automotive industry across countries is primarily augmenting the ferroalloys market. Furthermore, the rising usage of these iron-based alloys in the manufacturing of automobile components to optimize fuel consumption and improve the overall efficiency of the vehicle is positively influencing the global market. Apart from this, the widespread adoption of ferrochromium for the fabrication of stainless steel is acting as another significant growth-inducing factor. Moreover, the increasing utilization of ferroalloys, as they act as a desulfurizing and deoxidizing agent to promote solid solution strengthening, and extensive infrastructural development projects are further bolstering the market growth. Besides this, the escalating demand for electric arc furnaces (EAFs) from blast furnaces to process ferroalloys is also catalyzing the global market. Additionally, they are highly cost effective and require minimal power requirements to produce steel from the metal feedstock, which is expected to fuel the ferroalloys market in the coming years.

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

  • Arcelor Mittal
  • Brahm Group
  • China Minmetals Group Co. Ltd.
  • Glencore plc
  • Gulf Ferro Alloys Company (SABAYEK)
  • Jindal Group
  • Nikopol Ferroalloy Plant
  • OM Holdings Ltd.
  • SC Feral Srl
  • SAIL
  • Samancore Chrome
  • Tata Steel Limited

Ferroalloys Market Segmentation:

Our report has categorized the market based on region, product and application.

Breakup by Product:

  • Ferrochrome
  • Ferromanganese
  • Ferro Silicomanganese
  • Ferrosilicon
  • Others

Breakup by Application:

  • Carbon and Low Alloy Steel
  • Stainless Steel
  • Alloy Steel
  • Cast Iron
  • Others

Breakup by Region:

  • North America (United States, Canada)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Others)
  • Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: We are in the process of updating our reports. If you want to receive the latest research data covering the time period from 2023 to 2028, along with industry trends, market size, and competitive analysis, click on the request sample report. The team would be able to deliver the latest version of the report in a quick turnaround time.

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