Press release
Ferroalloy Market Segments by Application, Region, Revenue & Forecast till 2025, Key Players: Jindal Group, Tata Steel, Pertama, Brahm Group, Nikopol
Ferroalloy Market
Ferroalloy Market Size will surpass USD 70 billion by 2025; according to a new research report. Rising population and legislative decisions to boost infrastructure sector of developing economies increases steel consumption. This acts as a significant factor driving market in positive direction. Abundant presence of iron ore all-round the globe with increasing demand for steels in the industrial sector due to unavailability of substitutes will catapult the market in coming years.
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Cost incurred in production of ferroalloys is high owing to a large amount of energy consumed and quality control requirements. Also, fluctuating fuel prices changes the overall product cost. There are strict regulations and industry standards mandated by various countries and regulatory bodies for steel industries all across the globe. These aforementioned factors may restrain the growth of ferroalloy market over forecast timespan.
Construction industry in Latin America and Middle East region is booming due to increase in spending done by governments for infrastructure projects. These steps are taken in order to revive economies and give them positive direction towards growth. Countries in these regions have hosted several international sports events or are going to host in near future. These trends have augmented demand for various grades of steel, in turn propelling the growth of overall ferroalloy market in near future.
Some of the major players in ferroalloy market are:
• Jindal Group
• Steel Authority of India Limited (SAIL)
• Gulf Ferroalloys Company
• Tata Steel
• Pertama
• Shenjia Ferroalloys
• Brahm Group
• OM Holdings
• Arcelor Mittal
• Nikopol
• China Minmetals Corporation
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Ferroalloy market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand units & revenue in USD million from 2014 to 2025, for the following segments:
Ferroalloy Market by Product:
• Ferro Chrome
• Ferro Manganese
• Ferro Silicon
• Ferro Silicon Manganese
• Others
Ferroalloy Market by Application:
• Carbon Steel
• Alloy Steel
• Stainless Steel
• Others
Stainless steel will likely witness a CAGR of around 5.5% from 2018 to 2025. Stainless steel has application in architecture & construction, automotive & transportation, medical, energy & heavy industries, food & catering, etc. Increasing industrialization across the globe will further boost the demand for stainless steel.
Based on revenue ferro chrome will account for around USD 23 billion in 2025 showing a decent growth rate throughout forecast time period. Ferro chrome is mainly used in production of stainless steel and tool steel, providing superior corrosion resistance properties. The product has end use in metallurgical industry, chemical industry, foundry & refractory industries. With growing construction sector of developing nations steel consumption is expected to increase thus, propelling demand for ferrochrome in near future.
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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.
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