Ferroalloys Market set for rapid growth forecast 2019-2025 | Key Players : ArcelorMittal, Tata Steel, China Minmetals Corporation, Jindal Group, Ferroalloy Corporation Limited, S.C. Feral, Shanghai Shenjia , Sakura Ferroalloys, Nikopol
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.
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Ferroalloy Market size was estimated over USD 45 billion in 2017 and the industry will grow by a CAGR of more than 5.5% up to 2025. On the basis of 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.
Global ferroalloy market, on the basis of application, is segmented into carbon steel, alloy steel, stainless steel & others. Among these, 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.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Ferro Alloys Corporation Limited
2. Eurasian Natural Resources Corporation PLC
3. Nikopol Ferroalloy Plant
4. S.C. Feral S.R.L.
5. Jindal Group
6. Georgian American Alloys, Inc.
7. China Minmetals Corporation
8. Tata Steel Limited – Ferro Alloys & Minerals Division
9. Shanghai Shenjia Ferroalloys Co. Ltd.
11. OM Holdings Ltd.
12. Sinosteel Jilin Ferroalloy Corporation Limited
13. LEMETCO GmbH
14. MidUral Group
15. Sakura Ferroalloys Sdn Bhd
16. Pertama Ferroalloys Sdn. Bhd.
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Ferroalloy Market Size will surpass USD 70 billion by 2025; according to a new research report. On the basis of region Latin America will register about USD 5.5 billion by 2025, witnessing the highest growth rate in coming years. This is due to increasing FDI inflow in construction and other industrial sectors.
Many countries of this region have formulated policies to attract private investors in order to revive their economies. Such trends will catapult steel consumption, thus driving the overall ferroalloy market growth over forecast time spell.
- Ferroalloys Market by Product
• Ferro Chrome
• Ferro Manganese
• Ferro Silicon
• Ferro Silicon Manganese
- Ferroalloys Market by Application
• Carbon Steel
• Alloy Steel
• Stainless Steel
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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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