Ferroalloy | Worldwide Industry Analysis and New Market Opportunities Explored

Ferroalloys are utilized as one of the primary raw materials in manufacturing the steel due to distinctive properties to the final product. The global market for ferroalloys is highly fragmented due to the presences of large number for large, small, and medium scale companies. Some of the key players in the global ferroalloys market include the names such as S.C. Feral S.R.L, Tata Steel, Sinosteel Jilin Ferroalloy Corporation, China Minmetals, Shanghai Shenjia, Eurasian Natural Resources Corporation PLC., Ferro Alloys Corporation, Jindal Group, Georgian American Alloys, ArcelorMittal, OM Holdings, Nikopol, LEMETCO GmbH, MidUral Group, and Sakura. The key players in the market are constantly adopting to the new advancements in the market to enhance their market share and generate more revenue. Technological partnerships and strategic acquisitions are two primary methods for the leading corporates in the market to bolster their market presence.

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For instance, Tata Steel UK publicized that the company has agreed and signed a deal for a Regulated Appointment Arrangement (RAA) with the British steel pension scheme trustee that will offer better sustainable outcomes for the business, employees, and the pensioner. It is expected that a payment of UK pound 550 million to the British Steel Pension scheme (BSPS) will be made by Tata Steel UK, while the scheme’s trustees will be issued 33% of the company’s equity.

The global market of ferroalloys is projected to reach the valuation of US$53.5 bn by the year 2020. During the mentioned forecast period of 2014-2020, the global ferroalloy market is expected to grow at a CAGR of 5.40%. The development of high strength and lightweight steel grades are anticipated to create new avenues for the shareholders associated with the global ferroalloy market. Emerging economies of India and China where the construction and industrial sector is presently experiencing great boom is expected to make Asia Pacific the most lucrative market landscape for the global ferroalloy market. On the other side, it is expected that Europe will remain the second most profitable regional segment owing to vast number of market vendors in the automobile sector.

Boom in Construction Sector in BRICS Countries to Drive Global Ferroalloy Market
Ferroalloys are mainly used for deoxidizing, reinforcing, and desulfurizing purposes to clear out impurities that exists in iron ores that are used to manufacture steel. Thus, increasing development of will positively impact on the growth of the ferroalloy market. Specially, the ever-growing construction sector in countries of BRICS association that rely heavily on steel to execute big-construction projects will propel the development of the ferroalloy market. In addition to this, increasing demand for steel in the end-user industrial application such as automotive, construction, and ship building among others is expected to be a significant market driver.

It is expected to be an increasing demand for ferrochrome in the near future because of the rising need for anticorrosive steel from the automobile sector. Apart from that ferrosilicon is primarily used as deoxidizing and an alloying agent in the production of steel. Other products of ferroalloy such as ferromanganese, ferroboron, ferrotungsten, and ferronickel are also expected to significantly contribute to the overall development of the global ferroalloy market. These products are extensively used in the production of varied steel grades such as stainless steels and carbon steel among others. Ample amount of supply of iron ore and increasing demand for different steel grades because of lack of suitable substitutes is also expected to drive the global market for ferroalloys.

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High Operational Costs to be a Cause of Concern for Market Players

There are however, some concerns related to the growth of the global ferroalloy market. Chief restraint in the development of the market is heavy operational prices related to raw materials, mineral resources, energy machinery, labor costs, and transportation costs. Additionally, several strict regulations imposed by different regional governments and other regulatory bodies over the steel and iron production industries because of their social and environmental impact.

This review is based on the research report by Transparency Market Research titled “Ferroalloy (Product - Ferrochrome, Ferromanganese, Ferrosilico, Ferrotungsten, Ferronickel, and Ferroboron) Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.”

Ferroalloy Market - Product Segment Analysis
Ferrochrome
Ferromanganese
Ferrosilicon
Others (Ferrotungsten, ferronickel, ferroboron, etc.)

Ferroalloy Market - Regional Analysis
North America
Europe
China
Rest of Asia Pacific
Rest of the World

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