The global ferrosilicon market is anticipated
to reach USD 11.96 billion by 2025, according to a new report by Grand View
Research, Inc. The growing demand for ferrosilicon in steel and casting
industry is expected to drive demand over the forecast period.
Growing demand for the product as
an inoculant in the casting industry is expected to drive demand over the
forecast years. In addition, the increasing utilization of the product for iron
graphitization in the casting industry, coupled with the unavailability of
substitutes, is expected to drive demand over the forecast period.
The increasing use of the product
as a deoxidizer in the steel industry is expected to have a positive impact on
the demand. However, the sluggish growth of the steel industry may restrain the
growth of the deoxidizer segment. In addition, the increasing use of silicon
slag as an inexpensive substitute for the product in various application
industries may restrain industry growth during the forecast period.
The ferrosilicon market is
fragmented in nature with Chinese manufacturers accounting for a majority of
the share. However, major European players, including Elkem AS and Globe
Specialty Metals, Inc., are spearheading the global industry. China and Russia
are the major producers of ferrosilicon accounting for over 70% of the overall
global production, as of 2015.
Browse full research report on Global Ferrosilicon Market: http://www.grandviewresearch.com/industry-analysis/ferrosilicon-market
Further key findings from
the report suggest:
- Inoculants accounted for over 17% of the revenue share in 2015. The demand for ferrosilicon as an inoculant is expected to grow significantly owing to the increasing demand for the product in the iron casting industry.
- Carbon & other alloy steel accounted for over 48% of the volume share in 2015. High utilization of the product in carbon steel production, coupled with growing carbon steel market, is expected to drive the demand for the product in this segment over the forecast period
- The revenue share of stainless steel in the overall industry was over 1.6 billion in 2015. The growing use of the product to improve the corrosion resistance and conductivity of stainless steel is expected to have positive impacts on the overall industry growth
- China accounted for over 65% of the overall production and consumption of ferrosilicon. The presence of a large number of steel manufacturers is expected to be the key factor impacting the high consumption of the product in the country
- The major market players in ferrosilicon industry adopt different pricing strategies to acquire new customers and gain regional share, mainly on account of the fragmented nature of the market as well as the limited scope of product differentiation in the industry
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/bulk-chemicals
Grand View Research has segmented the global ferrosilicon
market on the basis of application, end-use, and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- Deoxidizer
- Inoculants
- Others
End-use Outlook (Volume, Kilo Tons; Revenue, USD Million,
2014 - 2025)
- Carbon & other alloy steel
- Stainless steel
- Electric steel
- Cast iron
- Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- Russia
- UK
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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