Selbyville, Delaware, Nov. 29, 2018 (GLOBE NEWSWIRE) --
Ferroalloys Market share is set to exceed US$70 billion by 2025, according to growth forecast statistics by Global Market Insights, Inc. Growing construction industry in emerging economies of Asia Pacific region is one of the prominent factors influencing the growth of ferroalloy market in a positive manner. Rising population levels along with growth in per capita income in the region due to legislative decisions taken by governments have propelled overall construction sector in recent years. Ease of doing business index of many countries has improved in the region and this will boost the morale of private sector companies to invest extensively in order to reap greater profits from this resourceful market.
Construction industry accounts almost half of steel consumption and the presence of enormous raw material reserves in Asia Pacific will further augment the product demand in steel production. In India about USD 650 billion of investment is estimated in urban infrastructure for the next 20 years. With improving construction methods, use of various steel products is expected to increase in the developing countries. The above-mentioned trends are expected to continue and will catapult ferroalloys market demand over forecast time period.
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High operational costs incurred in production, coupled with stringent industry standards and environmental regulations may hamper the product market growth in near future. Amount of energy consumed in manufacturing some alloys is high and volatility in fuel prices will fluctuate the production cost. This will have a negative effect on the market growth.
On the basis of product, ferroalloys market is segmented into ferromanganese, ferrochrome, ferro silicon, ferro silicon manganese and others. The others segment includes noble alloys such as ferronickel, ferro titanium, etc. Among these ferro silicon segment will cross USD 10 billion, showing a moderate growth rate over the forecast timespan. This is due to its ability to prevent carbon loss during steel production. It is widely used as a deoxidizer as well. Ferrosilicon has end-use in various industries such as metallurgical, chemical, electrical and electronics.
Browse key industry insights spread across 270 pages with 451 market data tables & 24 figures & charts from the report, “Ferroalloy Market Size By Product (Ferro Chrome, Ferro Manganese, Ferro Silicon, Ferro Silicon-Manganese), By Application (Carbon Steel, Alloy Steel, Stainless Steel), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, China, India, Japan, Australia, Indonesia, Malaysia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ferroalloy-market
Based on application, the market is categorized into alloy steel, stainless steel, carbon steel and others. Among these, carbon steel shows a decent growth rate and will likely generate about USD 25 billion for the ferroalloy market in 2025. Carbon steel is widely used for making structural components such as bolts and fasteners, and machinery parts such as body parts, crankshafts, sprocket assemblies, couplings, pins, rods, spindles, etc.
On the basis of region, Asia Pacific will witness the CAGR of around 5% from 2018 to 2025. Increasing construction activities coupled with rising manufacturing sector due to prevalence of large, medium and small-scale industries and enormous iron deposits in the region will make it a notable regional player in global ferroalloys market.
The key players in the market are OM Holdings, SAIL, Gulf Ferroalloys Company, Pertama Ferroalloys Brahm Group, Arcelor Mittal, Tata Steel, China Minmetals Corporation, Jindal Group, Ferroalloy Corporation Limited, S.C. Feral, Shanghai Shenjia , Sakura Ferroalloys, Nikopol, and Eurasian Natural Resources Corporation.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.