Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "Ferrosilicon Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global ferrosilicon market, valued at US$ 12.0 billion in 2022, is projected to reach US$ 14.0 billion by 2028, with a CAGR of 2.4% during 2023-2028.
Key factors driving this growth include increased demand for steel and iron in various industries, including construction and automotive, as well as the growing use of semiconductors in electronic devices.
Key Market Insights
Ferrosilicon is an alloy of iron and silicon, produced by reducing sand or silica in the presence of iron at high temperatures. It has a wide range of applications in metallurgy, construction, automotive, semiconductors, chemical processing, and solar energy, among others. Key market insights include:
- Demand for Steel and Iron: The primary driver of market growth is the increasing demand for steel and iron in various sectors.
- Semiconductor Manufacturing: The growing use of semiconductors in electronic devices is boosting the demand for ferrosilicon.
- Corrosion-Resistant Materials: Industries like construction and automotive are shifting toward corrosion-resistant materials, further driving demand.
- Electric Steel Production: Ferrosilicon is used in electric steel production, improving electrical resistivity for various applications.
- Infrastructure Development: Government initiatives for infrastructure development and investments in the steel industry are propelling market growth.
Market Segmentation
The report provides a comprehensive market analysis and segmentation, including:
- Type: Atomized Ferrosilicon, Milled Ferrosilicon.
- Application: Deoxidizer, Inoculant, Others.
- End User: Carbon and Other Alloy Steel, Stainless Steel, Electric Steel, Cast Iron, Others.
- Region: North America, Asia-Pacific, Europe, Latin America, Middle East, and Africa.
Competitive Landscape
Key players in the global ferrosilicon market include 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., among others.
Key Questions Answered
The report addresses key questions about the global ferrosilicon market:
- Market size and growth projections.
- Impact of COVID-19 on the market.
- Factors driving market growth.
- Market segmentation by type, application, and end user.
- Key regions in the market.
- Key players/companies in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 143 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $12 Billion |
| Forecasted Market Value (USD) by 2028 | $14 Billion |
| Compound Annual Growth Rate | 2.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/ldw41e
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