Ferroalloys Market Estimated to Reach US$ 105 Billion Globally By 2027

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. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global ferroalloys market reached a value of US$ 71 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 105 Billion by 2027, exhibiting a CAGR of 7.3% during 2022-2027.

Ferroalloys refer to various alloys of iron that contain high proportions of one or more elements, such as aluminum (Al), silicon (Si), chromium (Cr), and manganese (Mn). Some of the commonly used ferroalloys include ferrochromium, ferrosilicon, ferrophosphorus, ferromanganese, ferromolybdenum, and ferroboron. They are used for improving functional properties, like ductility, corrosion resistance, strength, and fatigue, of various metals. On account of this, ferroalloys are extensively applied in the residential, transportation, automotive and commercial 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.

Market Trends:

The global ferroalloys market is primarily being driven by growth in the automotive industry. Ferroalloys are mainly utilized for producing several automobile components to improve fuel consumption and the overall functionality of vehicles. Other than this, increasing manufacturing of steel across the globe is further supporting the market growth. In line with this, widespread utilization of ferrochromium for the fabrication of stainless steel is also contributing to the market growth. Moreover, increasing infrastructural projects, particularly in developing economies, are creating a positive outlook for the market.

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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
• SAIL
• Samancore Chrome
• Tata Steel Limited

Ferroalloys Market Segmentation:
Our report has categorized the market based on region, product and application.

Market Breakup by Product:
• Ferrochrome
• Ferromanganese
• Ferro Silicomanganese
• Ferrosilicon
• Others

Market Breakup by Application:
• Carbon and Low Alloy Steel
• Stainless Steel
• Alloy Steel
• Cast Iron
• Others

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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