Ferroalloys Market Overview:
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 share. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Ferroalloys refer to alloys of iron with a high proportion of one or more non-ferrous metals. They contain elements such as manganese, aluminum, chromium, titanium, boron, phosphorus, and silicon, which are vital additives in the production of specialty steel and superalloys. They provide distinctive qualities to steel and cast iron by serving essential functions during the production cycle. The principal ferroalloys are made of chromium, manganese, and silicon. Chromium offers corrosion resistance, manganese counteracts the harmful effects of sulfur, and silicon is primarily used for deoxidation in steel and cast iron. As a result, ferroalloys form basic raw materials in the iron and steel industries.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
The global ferroalloys market is primarily driven by the increasing steel production, which uses ferroalloys for improved hardness, high resistance to abrasion and corrosion, and enhanced tensile strength. Governments of various nations, especially in the emerging economies, are also extensively investing in infrastructure development. This has necessitated the development of lightweight and high-strength steel grades, thereby escalating the demand for ferroalloys.
Besides this, ferroalloys find application in diverse industries. They are employed in the manufacturing of various automobile components, which optimizes the consumption of fuels and increases the overall efficiency of the vehicles. Furthermore, ferroalloys are also utilized in high-temperature applications such as power plants, turbine engines, pollution control equipment and furnaces.
Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- 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
- Samancore Chrome
- Tata Steel Limited
Ferroalloys Market Segmentation:
Our report has categorized the market based on region, product and application.
Market Breakup by Product:
- Ferro Silicomanganese
Market Breakup by Application:
- Carbon and Low Alloy Steel
- Stainless Steel
- Alloy Steel
- Cast Iron
Market 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
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