Industries Study Report: Ferroalloys Industry

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Unveiling the Ferroalloys Industry: A Complete Value Chain Analysis

Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

The global Ferroalloys Industry generated over USD 42.7 billion in 2020 and is projected to grow at a CAGR of more than 7.1% from 2021 to 2028

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.

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

Ferrochrome Market Growth & Trends

The global ferrochrome market size is expected to reach USD 28.83 billion by 2030, expanding at a CAGR of 4.6% from 2019 to 2030, 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.

Majority of chromite ore suppliers in these regions are integrated in nature as they are also involved with manufacturing of ferrochrome. Glencore and Samancor Chrome are some of the major players in South Africa that produce ferrochrome by extracting chromite from their own operating mines situated in South Africa. The chromite ore suppliers are concentrated in South Africa, Kazakhstan, India, Turkey, and Zimbabwe, as these countries are host to enormous amount of chromite ore reserves.

Industry rivalry in ferrochrome market is quite intensive owing to the presence of several established and integrated companies that are consolidated in South Africa, India, Turkey, and Kazakhstan. China is also among the largest suppliers of the FeCr along with South Africa. However, the suppliers in China is characterized by various small to medium sized players that import chrome ore mainly from South Africa for their FeCr production.

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

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.

For instance, China initiated five major infrastructure projects in the third quarter of 2021, one of them was an investment of USD 4,793 million in the construction of a railway line from Liuzhou to Wuzhou covering a distance of 237.78 kilometers. Such projects are aiding the consumption of steel and related products, thereby, positively influencing market growth over the forecast period. The market is competitive with a presence of a large number of players scattered across different regions. To uphold and expand their presence, market vendors are involved in acquisition activities. For instance, in February 2022, Elkem ASA acquired the remaining 50% stake in the Salten energy recovery plant from Kvitebjørn Energi, thus, taking 100% ownership. This acquisition aims to enable the production of environmental-friendly ferrosilicon grade.

Go through the table of content of Ferroalloys Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

Key players operating in the Ferroalloys Industry are:

Arcelor Mittal
Brahm Group
China Minmetals Group Co., Ltd.
Elkem ASA
EMCO

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About Grand View Research

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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Ferroalloys Industry: Ferrochrome Market Size to grow at 4.6% CAGR by 2030

Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030

The global Ferroalloys Industry was valued at USD 42.7 billion in 2020 and is anticipated to increase at a significant CAGR of 7.1% from 2021 to 2028.

Silico Manganese Market Insights

The global silico manganese market size was valued at USD 26.74 billion in 2021 and is estimated to expand at a compounded annual growth rate (CAGR) of 6.5% in terms of revenue from 2022 to 2033.Rising demand for steel products in the construction & infrastructure industry is anticipated to drive the market growth over the forecast period. Silico manganese is used in steel manufacturing to improve its properties such as strength, ductility, and corrosion resistance. It is also used in refining, deoxidizing, modification, and control of nonmetallic inclusions. Thus, rising production and consumption of steel are likely to have a positive impact on market growth. Over the course of the projected period, it is anticipated that rising investments in steel production facilities would increase demand for silico manganese in the U.S. For instance, by the end of 2023, a sum of around USD 16.00 billion is anticipated to be invested in the U.S. steel industry for modernizing, decarbonizing, and electrifying manufacturing facilities.

In addition, rising investments in residential and non-residential construction projects are anticipated to increase steel demand in the U.S., which is therefore anticipated to positively impact the silico manganese industry across the forecast period. For instance, in April 2022, Google announced its plan to invest USD 9.5 billion in the construction of its data centers and offices across the U.S. The company is investing in Virginia, Oklahoma, Tennessee, Boulder, Pittsburgh, Cambridge, and Austin.

It has been observed that investments in the aluminum industry are growing. For instance, in February 2022, Volvo Cars announced about an investment of USD 1.1 billion in aluminum mega castings in its Torslanda production plant in Sweden, to make the production process less complex and reduce the overall environmental footprint. Consequently, this steady preference change from steel to aluminum has negatively impacted the profit margins of steel foundries serving the automotive industry.

Ferrosilicon Market Insights

The global ferrosilicon market size was valued at USD 11.25 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2023 to 2030. The growth is anticipated to be driven by the rising use of ferrosilicon as a deoxidizer in the steel industry and as an inoculant in cast iron. Growing demand for steel is compelling producers to increase their production capacity. For instance, in January 2022, AM/NS India signed an MoU with the Government of Gujarat, under which the company will invest over USD 22.0 billion in six projects across the state. An investment of USD 5.97 billion will be for expanding its steel production from 8.6 to 18.0 million tons per annum in the Hazira plant.

The growing investments in the infrastructure have increased competition in the industry, compelling market players to indulge in mergers & acquisitions and capacity expansions. For instance, in December 2020, Cleveland-Cliffs Inc. acquired ArcelorMittal USA and its subsidiaries. The acquired assets will be combined with existing facilities, transforming the company into a vertically integrated producer of iron and steel.

Furthermore, growth in the electric vehicles (EVs) industry is benefitting market growth. For instance, in November 2021, POSCO announced to invest KRW 1 trillion (~USD 831.4 million) in building a non-oriented electrical steel plant with an annual production capacity of 300 kilotons in Gwangyang. The plant will cater to the drive motors of EVs.

Go through the table of content of Ferroalloys Industry Data Book to get a better understanding of the Coverage & Scope of the study

Ferroalloys Industry Data Book Competitive Landscape

The industry is expected to witness additional investments from established major companies in the next years owing to the competitive market outlook.

Key players operating in the Ferroalloys Industry are:

Eurasian Resource Group
Ferroalloys Corporation Limited
Ferroglobe
Finnfjord AS
Glencore

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Ferroalloys Industry: Value Addition and Profit Margin Analysis, 2023 - 2030

Ferroalloys Industry Data Book - Ferro Manganese, Ferrochrome, Silico Manganese and Ferrosilicon Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030

Access the Global Ferroalloys Industry Data Book, 2023 to 2030, compiled with details like trade data, pricing intelligence, and competitive benchmarking.

Ferrochrome Market Report Highlights

The global Ferrochrome Market size was estimated at USD 16.77 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 4.6% from 2019 to 2030.

High carbon ferrochrome dominated market in 2018 with a volume share of 85.7% in 2018. It is expected to maintain its dominance over the forecast period owing to abundant reserves available of high carbon chromite ore as compared to other products.
Stainless steel application is predicted to grow the fastest with a CAGR of 4.9% from 2019 to 2030, in terms of revenue. As ferrochrome currently has no substitute for stainless steel, it is poised to witness lucrative growth.
In terms of volume, Asia Pacific acquired the highest share of 78.5% in 2018. This is mainly attributed to the dominant position of China in terms of stainless steel production.
North America is projected to grow at a CAGR of 2.1% from 2019 to 2025, in terms of volume. The protectionist policies currently implemented by the U.S. government are expected to propel domestic steel production and thereby propel ferrochrome demand.
In August 2019, Glencore, one of the major FeCr manufacturer of South Africa announced a cut in its ferrochrome production by 10% for 2019. This decision was taken owing to the electricity concerns in South Africa.

Silico Manganese Market Report Highlights

The global Silico Manganese Market size was estimated at USD 26.74 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2033.

The increase in production cost of silico manganese is attributed to the hike in the prices of energy and raw materials along with labor shortage and logistics challenges. The energy price rise in 2021-22 primarily occurred due to the low base price in 2020. The transition toward clean energy caused prices to remain high. In addition, the geo-political tensions caused due to the Russia-Ukraine war in 2022 are expected to further contribute to the price hike
Based on product, medium carbon is likely to register the fastest CAGR of 6.8% in terms of revenue across the forecast period. The segment's growth can be ascribed to rising global stainless steel production. For instance, global stainless steel melt shop production increased by 12.5% from 2020 to 2021 to reach 58.3 kilotons
Based on region, in 2021, Asia Pacific held a revenue share of nearly 74.0% of the global market. The consumption of silico manganese in the region is being driven by rising investments in the building & construction industry by the governments of the region. For instance, in November 2021, the Government of Malaysia announced its plans to construct approximately 500,000 affordable houses under the 12th Malaysia Plan
Based on application, stainless steel held the largest share of over 43.0% of the market, in terms of revenue, in 2021. Increasing penetration of electric vehicles is expected to propel the demand for the segment

Order your copy of 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

Ferrosilicon Market Report Highlights

The global Ferrosilicon Market size was estimated at USD 11.25 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 2.5% from 2023 to 2030.

The deoxidizer segment accounted for the largest revenue share of over 69.0% in 2022, and this trend is expected to continue across the predicted timeline. It finds use in steel production. According to World Steel Association, in 2022, global crude steel production was 1,831.5 million tons.
Based on end-use, cast iron is anticipated to register the fastest CAGR of 3.4%, in terms of revenue, across the forecast period, owing to the use of ferrosilicon as an inoculant in the industry
Further, the shifting trend from non-stick cookware to those made up of cast iron, owing to growing concerns about potential health risks, is projected to emerge as the key driver for cast iron end-use segment growth over the forecast period.
Based on region, Asia Pacific dominated the market and accounted for a revenue share of nearly 67.0% in 2022. The rising production of automobiles and investments in the construction industry are influencing the demand for ferrosilicon in the region.
In North America, the market is projected to witness a CAGR of 2.2%, in terms of revenue, over the forecast period. The U.S. is anticipated to be the major market of the North American region over the forecast period.

Go through the table of content of Ferroalloys Industry Data Book to get a better understanding of the Coverage & Scope of the study

Competitive Landscape

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.

Key players operating in the Ferroalloys industry are:

Arcelor Mittal
Brahm Group
China Minmetals Group Co., Ltd.
Elkem ASA
EMCO
Eramet Group

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

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Unveiling the Ferroalloys Industry: A Complete Value Chain Analysis

Ferroalloys Industry: Ferrochrome Market Size to grow at 4.6% CAGR by 2030

Ferroalloys Industry: Value Addition and Profit Margin Analysis, 2023 - 2030

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