The
global ferroalloy market was valued at USD 37.25 billion in 2013 and
is anticipated to reach USD 53.56 billion in 2020, expanding at a
CAGR of 5.4% between 2014 and 2020.
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Global Ferroalloy Market Report with Full TOC at
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Ferroalloy
is one of the major raw materials used in the manufacture of steel.
Ferroalloys impart distinctive qualities to steel and cast iron.
Ferroalloy is widely used as deoxidizing, desulfurizing and
reinforcing agents. This helps in the removal of sulfur, phosphorus
and oxygen impurities that are present in iron ores and this iron
ores are used in the manufacture of steel. Thus, growth in the steel
industry is estimated to boost the overall ferroalloy market.
Furthermore, growth in the construction industry, especially in BRICS
countries, is likely to increase the demand for steel. This, in turn,
is projected to drive the overall growth of the ferroalloy market.
However, high operational cost coupled with stringent environmental
regulations is expected to hamper growth of the ferroalloy market in
the near future. Development of lightweight, high tensile strength
steel is anticipated to boost demand for steel, especially in the
automobile industry. This is further estimated to augment growth of
the ferroalloy market.
Ferromanganese
is one of the ferroalloy that is produced as well as consumed on a
large-scale. In terms of volume, it accounted for over 37% share of
the overall ferroalloy market in 2013. With over two-third share of
total consumption in 2013, stainless steel industry was the major
application segment of the ferroalloy market. Ferrochrome provides
corrosion resistance to stainless steel. Demand for ferrochrome is
rising due to increasing demand for anticorrosive steel from the
automobile industry. Ferrosilicon is primarily used as a deoxidizing
and alloying agent in the steel manufacturing process.
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China
emerged as the leading consumer of ferroalloy in 2013. Presence of
large number of steel manufacturers with high production capacities
is expected to boost demand for ferroalloy in China. In terms of
volume, China is anticipated to grow at a CAGR of 4.6% between 2014
and 2020. China was followed by Europe, which is estimated to be the
next major consumer of ferroalloy due to increasing demand for steel
from the automobile industry. Rest of Asia Pacific is projected to be
one of the emerging markets for ferroalloys owing to rising demand
for steel from the construction industry, especially in India and
Japan. North America and Rest of the World are likely to experience
sluggish growth during the forecast period.
The
global ferroalloy market is highly fragmented in nature. Major
players in the ferroalloy market include Eurasian Natural Resources
Corporation PLC (ENRC), Sinosteel Jilin Ferroalloy Corporation
Limited, S.C. Feral S.R.L. and Shanghai Shenjia Ferroalloys Co. Ltd.
Entry of new players, especially in Rest of Asia Pacific, is likely
to boost the overall market growth.
This
report segments the global ferroalloy market as follows:
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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Press Release Of Global Ferroalloy Market
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