Global Ferrosilicon Industry Set for Steady Growth at 2.5% CAGR |...

Global Ferrosilicon Industry Set for Steady Growth at 2.5% CAGR

Posted 2025-03-05 06:21:54

Global Ferrosilicon Market Poised for Steady Growth: Projected to Reach $14.36 Billion by 2030

The Global Ferrosilicon Market, valued at approximately $12.08 billion in 2023, is anticipated to reach $14.36 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 2.5% during the forecast period. This growth is primarily driven by the rising demand for steel across various industries, where ferrosilicon serves as a crucial deoxidizer and alloying agent.

Competitive Landscape

The ferrosilicon market is characterized by the presence of key players such as OM Holdings Ltd., Russian Ferro-Alloys Inc., SINOGU CHINA, and VBC Industries Limited.

These companies are actively engaging in strategic initiatives, including mergers and acquisitions, to strengthen their market positions and meet the escalating demand for ferrosilicon globally.

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Regional Demand Highlights

The Asia-Pacific region leads the global ferrosilicon market, driven by rapid industrialization and infrastructure development. The burgeoning construction and automotive sectors in countries like China and India are significantly contributing to the heightened demand for steel and, consequently, ferrosilicon.The Asia-Pacific region continues to present significant opportunities in the ferrosilicon market. Rapid industrialization, urbanization, and infrastructure projects are driving the demand for steel, thereby increasing the consumption of ferrosilicon. Countries like China and India are at the forefront, with extensive construction and manufacturing activities contributing to market growth.

Segmentation Analysis

by Application

Beta-blockers
Deoxidizer
Inoculants
Electric Steel

by End User

Carbon & Other Alloy Steel
Stainless Steel
Electric Steel
Cast Iron
Others

The market for ferrosilicon is influenced by the wide range of end uses for ferrosilicon, and each market niche offers distinct prospects for expansion. Carbon and other alloy steel demonstrated its supremacy in the ferrosilicon market in 2022 by holding a dominant revenue share of over 43.0%. Ferrosilicon is a vital alloying and deoxidizing agent that is used in the manufacturing of steel. Furthermore, ferrosilicon powder is a useful heat-producing agent for the production of capped steel due to its unique features.

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Key Market Participants:

North America:
1. Elkem
2. Globe Specialty Metals
3. Mississippi Silicon
4. Ferroglobe
5. Simcoa Operations Pty Ltd
6. American Elements
7. Reade International Corp.
8. Finnfjord AS

Asia Pacific:
1. Sinosteel Jilin Ferroalloy Corporation
2. China National BlueStar (Group) Co., Ltd.
3. Sinosteel Maanshan Institute of Mining Research Co., Ltd.
4. Zhejiang Hengshun Alloy Materials Co., Ltd.
5. Ferro Alloys Corporation Limited (FACOR)
6. Indian Metals and Ferro Alloys Limited (IMFA)
7. Sarawak Aluminium Company Sdn Bhd (SALCO)
8. Maithan Alloys Ltd

Europe:
1. OFZ, a.s.
2. Huta Laziska S.A.
3. FerroAtlántica (part of Grupo FerroAtlántica)
4. Visa Steel
5. S.C. Feral S.A.
6. Georgian American Alloys, Inc.

Middle East and Africa (MEA):
1. Exxaro
2. DMS Powders
3. Huta Laziska S.A.
4. Cometal S.A.
5. Silicon Smelters (Pty) Ltd
6. Transalloys (Pty) Ltd
7. Harsco Metals Poland S.A.
8. Eramet SA
9. Assmang Limited

South America:
1. Villares Metals S.A.
2. ERG Brazil

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