Press release
Ferrosilicon Market Survey On Growth Strategies 2031
โข The global ferrosilicon market was valued at US$ 11.3 Bn in 2021
โข It is estimated to grow at a CAGR of 2.5% from 2022 to 2031
โข The global ferrosilicon market is expected to reach a value of US$ 15.1 Bn by the end of 2031
๐๐ข๐๐ฐ ๐๐จ๐ฆ๐ฉ๐ฅ๐๐ญ๐ ๐๐๐ฉ๐จ๐ซ๐ญ @ https://www.transparencymarketresearch.com/ferrosilicon-market.html
๐๐ง๐๐ฅ๐ฒ๐ฌ๐ญ๐ฌ' ๐๐ข๐๐ฐ๐ฉ๐จ๐ข๐ง๐ญ ๐จ๐ง ๐ ๐๐ซ๐ซ๐จ๐ฌ๐ข๐ฅ๐ข๐๐จ๐ง ๐๐๐ซ๐ค๐๐ญ ๐๐๐๐ง๐๐ซ๐ข๐จ
Industries are seeking metallic addition agents that are used in iron and steel making in order to incorporate an alloying element into the molten material or refined steel. Ferrosilicon is used as master alloy in iron and steel production. The ferrosilicon market is estimated to grow at a sluggish CAGR of 2.5% during the forecast period primarily due to the environmental challenges in the transport of ferroalloys. Hence, companies should adopt special measures such as storage of ferroalloys in water-tight containers and isolation of machinery & equipment used for the handling of raw materials to minimize the emission of polluting particles in the environment. Steel is an important commodity in most end-use industries; therefore, manufacturers have been establishing stable revenue streams in the steel industry during the post-COVID-19 period.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=73340
๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ ๐จ๐ ๐ ๐๐ซ๐ซ๐จ๐ฌ๐ข๐ฅ๐ข๐๐จ๐ง ๐๐๐ซ๐ค๐๐ญ
Ferrosilicon is generally of two types: atomized ferrosilicon and milled ferrosilicon. Ferrosilicon is used in various industries such as carbon & other alloy steel, stainless steel, electrical steel, cast iron, and magnesium.
Rise in demand for steel and metal alloys; and growth in automobile and construction industries are driving the ferrosilicon market. Numerous initiatives are being taken by governments to boost the usage of steel in different industries and reduce carbon footprint. The steel industry is the key downstream user of domestic ferrosilicon. Ferrosilicon is primarily used in steelmaking in steel mills. Corrosion- and abrasion-resistance, high specific gravity, high strength, high magnetism & hardness, and high temperature-resistance are benefits offered by ferrosilicon. Therefore, several companies are investing in the production of ferrosilicon.
Increase in environmental issues is prompting governments of several countries to focus on the use of ferrosilicon. Several international bodies are providing funds to developing countries in order to increase the usage of ferrosilicon.
๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ @ https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=73340
๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ ๐ข๐ง ๐ ๐๐ซ๐ซ๐จ๐ฌ๐ข๐ฅ๐ข๐๐จ๐ง ๐๐๐ซ๐ค๐๐ญ
The global ferrosilicon market comprises several small and large-scale manufacturers and suppliers that control the majority of the share. Most of the firms are adopting new technologies and strategies with comprehensive research & development activities, primarily to develop and prioritize sustainable metal addition agents. Diversification of product portfolios and mergers & acquisitions are important strategies adopted by key players. Eurasian Resources Group, Ferroglobe OM Holdings Limited, SC Feral Srl, DMS Powders (Pty) Ltd, Mechel, FINNFJORD AS, Elkem ASA are the prominent entities operating in the market.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=73340
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
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๐๐จ๐ง๐ญ๐๐๐ญ:
Rohit Bhisey
Transparency Market Research Inc.
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