Global Ferroalloys Market to Increase at Over 6% CAGR through 2025

The global ferroalloys market is projected to witness steady growth during the period 2017 to 2025 on account of a slew of macroeconomic and microeconomic factors. Renewal in real-estate sector and dependence of steel industry on ferroalloys for production will continue to offer growth opportunities to manufacturers. According to a report added to the repository of Market Research Reports Search Engine (MRRSE), the global market is projected to grow at nearly 6% CAGR and surpass US$ 188 bn in revenues. The report is titled, “Global Ferroalloys Market - Global Industry, Size, Share, Growth, Trends, and Forecast 2017 – 2025”.

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According to the report, steel production will continue to be the leading application of ferroalloys during the forecast period. Other key applications of ferroalloys include wire production and electrode welding. Among the major types of ferroalloys – noble and bulk – the latter is widely used owing to its low price and voluminous adoption in production of steel.

According to the report, manufacturing hubs in developing regions will continue to be the main centers where demand for ferroalloys will be concentrated. China, India, and Brazil are the countries where demand for ferroalloys will be higher. The fortunes of ferroalloys industry are closely tied to the developments in global construction center, and any slowdown can have wide-ranging repercussions on the industry.

The ferroalloy industry has had to deal with evolving regulations as focus shifts to sustainability. Many ferroalloy producing companies have had to adapt to the changed regulations, thereby increasing their operational costs. The higher costs have been eventually passed on to end-users, creating pressures on the value chain. Evolving regulations will continue to pose challenges to the growth of the market during the forecast period.

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According to the report, APAC will continue to be one of the most lucrative markets for ferroalloys globally. The market in APAC will continue to witness steady growth on account of robust demand from end-use industries in the region. As more economies in APAC shift their focus to infrastructure development, demand for raw materials is likely to witness an increase, which will further boost the prospects of ferroalloys market.

Leading companies profiled in the global ferroalloys market include Brahm Group, ArcelorMittal, OM Holdings LTD, Pertama Ferroalloys, Vale S.A., Ferroalloy Corporation Limited, Gulf Ferroalloys Company, Sakura Ferroalloys, BAFA Bahrain, NikoPol Ferroalloy Plant, MORTEX Group, Tata Steel, China Minmetals Corporation, Shanghai Shenjia Ferroalloys Co. Ltd., Georgian American Alloys, SAIL, and OFZ S.A.

The global ferroalloys market remains highly fragmented with a number of players holding minority revenue shares. The status quo isn’t likely to change; however, there can be increasing emphasis on technology sharing and collaboration, as the focus shifts to sustainable means of production.

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This release was published on openPR.