8th November 2019 – The global ferrosilicon
market is anticipated to rise at a positive CAGR in the forthcoming
period. Ferrosilicon market is driven by factors such as increasing demand for
ferrosilicon and inoculant. Rise in consumption of steel products for
construction and maintenance is likely to contribute to the market growth in
the near future. Surging demands for silicon-slag, which is widely used in
steel castings, contribute to the market growth in the forecast period.
Application segment for ferrosilicon
market includes inoculant and deoxidizer. Deoxidizer segment enjoys significant
demand from the industry and is expected to drive the overall industry growth.
Rise in demand for inoculant is anticipated to have a positive impact on the
industry growth. With added features such as minimal formation of dross and low
vulnerability to shrinkage formation, inoculants have a significant demand
during the forecast period.
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End-use segment for ferrosilicon
industry includes carbon, alloy steel, electric steel, and stainless steel. The
steel industry accounts for a significant market share due to high demands for
manufacture of various types of steel. Carbon steel coupled with the other
steel segments is leading the market growth and accounts for more than 45% of
the global market. Demand for steel product in the industry is normally driven
by carbon and alloy.
Regional segmentation for ferrosilicon
market includes North America, Latin America, Europe, Asia-Pacific, Middle East
and Africa. Asia-Pacific regions are expected to gain a prominent market share
due to rise in steel and metal manufacturing industries. China and Russia being
the major producers of alloy and steel determine the pricing trends in the
industry.
Middle Eastern and African regions
expect to rise at a prominent CAGR due to rise in overall production of crude
steel and rising demand for alloy steel in deoxidization process. The key
players in the ferrosilicon industry include Elkem AS, China National BlueStar
Co Ltd, FerroAtlantica Group SA and AMG.
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