Ferrosilicon Market Size, Trends and Insights By Mode of Application (Deoxidizer, Inoculants, Other), By Type (Atomized Ferrosilicon, Milled Ferrosilicon), By Application (Carbon & Other Alloy Steel, Stainless Steel, Electric Steel, Cast Iron, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- American Elements
- Assmang Limited
- China National BlueStar (Group) Co. Ltd.
- Cometal S.A.
- DMS Powders
- Others
Reports Description
Global Ferrosilicon Market size was valued at USD 11.09 Billion in 2023 and is expected to reach USD 15.08 Billion by 2032, at a CAGR of 2.7% during the forecast period 2024-2033.
Ferrosilicon is an alloy of iron and silicon. It is a silvery-grey, brittle material with a high melting point. Ferrosilicon is used in various applications, including steel production, smelting, and chemical production.
Ferrosilicon Market – Significant Growth Factors
Growing Usage of Ferrosilicon in Steel Industry
An increasing utilization and adaptation of ferrosilicon as a deoxidizer in the steel industry is mainly driving the ferrosilicon market. The rapidly expanding construction industry across the globe is propelling the demand for steel manufacturing.
In Steel manufacturing, Ferrosilicon is used as a source of silicon to reduce metals from their oxides and to deoxidize steel and other ferrous alloys. Ferrosilicon enhances the ductility and strength of steel. An increasing demand for steel in automotive, construction and manufacturing facilities is propelling the production of steel across the globe, which in turn boosts the demand for ferrosilicon across the globe.
For instance, in 2021, the U.S. steel industry’s production output was estimated at 86.0 million tons an increase of 18.3% as compared to 2020. Furthermore, a significant rise in investments in infrastructure development in China, India, the U.S. Germany is expected to stimulate the ferrosilicon market during the forecast period.
With expanding economies, the demand for new infrastructure, and automotive vehicles is also increasing, which in turn propels the demand for steel because it is the main material used in the manufacturing of automotive components and building construction projects. Thus, above mentioned factors are expected to boost the ferrosilicon market during the forecast period.
Supportive government initiatives to increase the consumption of steel in various industries and to reduce carbon emissions are expected to drive the demand for the ferrosilicon market during the forecast period.
High potential for infrastructural developments in many emerging economies such as China, India, ASEAN, South Africa, and Brazil, coupled with continuous investment in the automobile industry is propelling steel production, thereby augmenting the growth of the ferrosilicon market.
Restraints
The supply chain disruptions created by the COVID-19 pandemic, and the Russia-Ukraine war significantly impacted the growth of the ferrosilicon market. Logistics challenges are caused by various geopolitical conflicts creating difficulties in obtaining raw materials and increasing transportation costs.
Furthermore, the slowdown in economic growth particularly in the construction, automotive and manufacturing sectors declined the steel demand and consequently the ferrosilicon consumption, thereby restraining market growth.
The lack of universal directives about applications of ferrosilicon is also retraining the market growth. Every country has different rules and regulations for ferrosilicon applications. Companies find it very difficult to cope with such country wide regulations, which in turn discourage the investment in the market, thereby restraining the market growth.
Market Opportunities
Increasing Automotive Production
Growing automotive production across the globe is propelling the demand for high quality steel for automotive component manufacturing. Automotive manufacturing companies are constantly focusing on developing lightweight of vehicles that improve fuel efficiency.
Ferrosilicon is used in the manufacturing of various automotive components such as chassis, engine blocks and powertrains. The growing production and sales of electric vehicles (EVs) are expected to create lucrative opportunities for the ferrosilicon market. For instance, electric vehicle (EV) sales United States increasing rapidly, estimated 918,500 light electric vehicle sales in 2022.
Furthermore, the growing emphasis on sustainability and the development of environmentally friendly steel production technologies are expected to boost the demand for high-quality Ferrosilicon, creating new opportunities for the ferrosilicon market.
Ferrosilicon is a critical component in electrical steel production. The key players operating in the ferrosilicon market need to strategically adapt to these trends to capitalize on such emerging opportunities and maintain their competitive edge.
Ferrosilicon Market Segment Analysis
The global ferrosilicon market is segmented by type, by mode of application, by application and by region. By type, atomized ferrosilicon held the highest market share in 2022 and is expected to keep its dominance during the forecast period owing to its excellent properties.
Atomized ferrosilicon is used as a critical deoxidizer and alloying agent in steel production. Atomized Ferrosilicon possesses a spherical shape. It is made by atomizing ferrosilicon powder with water atomization technology.
By mode of application, deoxidiser dominated the global ferrosilicon market with a market share of 56.78% in 2022 and is expected to keep its dominance during the forecast period. Ferrosilicon is widely used as a deoxidiser in steel manufacturing to enhance ductility, strength and quality.
Ferrosilicon is used for precipitation deoxidation and diffusion deoxidation because The chemical affinity between silicon and oxygen is very large. Brickiron is also used as an alloying agent in steel making.
By application, stainless steel dominated the global ferrosilicon market in 2022. Growing demand for ferrosilicon in stainless steel production to enhance its aesthetic appeal, wear resistance, and corrosion resistance is propelling the growth of this segment.
Growing investment in stainless steel manufacturing is expected to create lucrative opportunities for ferrosilicon in this segment. For instance, in December 2021, Jindal Stainless Ltd. secured USD 82 million from KfW IPEX-Bank to expand its production facilities in India. Thus, such expansion is expected to boost the demand for ferrosilicon in stainless steel production.
Report Scope
| Feature of the Report | Details |
| Market Size in 2023 | USD 11.09 Billion |
| Projected Market Size in 2032 | USD 15.08 Billion |
| Market Size in 2022 | USD 10.65 Billion |
| CAGR Growth Rate | 2.7% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Mode of Application, Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Ferrosilicon Regional Insights:
By region, the global ferrosilicon market is dominated by the Asia Pacific region with a market share of 63.0% in 2022 owing to increasing infrastructural developments and continuous investments in the automobile industry.
Furthermore, emerging countries and sub regions such as China, India, South Korea, ASEAN and others are expected to drive the growth of this region during the forecast period. The region is witnessing a surge in investments in steel capacity expansions across various countries such as China and India, which is expected to fuel the ferrosilicon demand, thereby driving market growth.
North America is expected to hold the second largest market share of the global ferrosilicon market during the forecast period. The growth of the EV industry in the U.S. and Canada coupled with rising construction spending is propelling the ferrosilicon demand in this region, thereby market growth.
The U.S. is a major country contributing to the growth of this region. Growing investment in infrastructure projects propelled the steel demand and consequently the ferrosilicon in the United States.
Europe held the third largest market share in ferrosilicon market. Evolving steel industry trends and the presence of the developed automotive industry in this region are propelling the market growth. Increasing expansion of electrical vehicle manufacturing facilities due to growing sales of EVs in this region is expected to propel the market growth.
For instance, in Europe, there are 3.3 million units of EVs sold in 2023 and sales are expected to reach 3.6 million by 2024. Germany, France, Russia, the U.K., and Spain are major contributors to the growth of this region. Thus, such rapid expansion of EV vehicle manufacturing in Europe is expected to boost the demand for Steel, thereby market growth of ferrosilicon in this region.
Middle East and Africa held the fourth largest market share of the global ferrosilicon market in 2022 owing to increasing infrastructural activities in GCC and South Africa.
List of the prominent players in the Ferrosilicon Market:
- American Elements
- Assmang Limited
- China National BlueStar (Group) Co. Ltd.
- Cometal S.A.
- DMS Powders
- Elkem
- Eramet SA
- ERG Brazil
- Ferro Alloys Corporation Limited (FACOR)
- FerroAtlántica (part of Grupo FerroAtlántica)
- Finnfjord AS
- Georgian American Alloys Inc.
- Globe Specialty Metals
- Harsco Metals Poland S.A.
- Indian Metals and Ferro Alloys Limited (IMFA)
- Maithan Alloys Ltd
- Mississippi Silicon
- Reade International Corp.
- C. Feral S.A.
- Sarawak Aluminium Company Sdn Bhd (SALCO)
- Silicon Smelters (Pty) Ltd
- Simcoa Operations Pty Ltd
- Sinosteel Jilin Ferroalloy Corporation
- Shyam Metalics
- Others
These key players are adopting various organic and inorganic growth strategies such as mergers & acquisitions, joint ventures, strategic alliances, collaborations, etc. to enhance their production capacities and revenues.
Recent Development in Market
- In March 2023, American Elements announced the launch of AE Fusion Energy with the addition of new production facilities to meet the growing demand for advanced materials associated with R&D & scaled production at its fusion energy partner customers. In this new division American Elements will produce of certain high purity oxides, ferrosilicon, stable isotopes, refractory metals & alloys, high-temperature ceramics, laser crystal raw materials and molten salts.
- In December 2021, Shyam Metalics announced the expansion of its integrated production capacity of steel-making and ferroalloys. Through this plan, they will reach a production capacity of up to 5 MTPA by 2025.
- Recently, Elkem ASA signed an agreement to acquire REC Solar Norway AS from REC Solar Holdings AS, a subsidiary of Reliance Industries. This transaction will give Elkem control of industrial areas and facilities in Norway, including areas next to Elkem’s activities at Fiskaa in Kristiansand. In the acquired industrial area Elkem is planning to expand its production facilities.
The Ferrosilicon Market is segmented as follows:
By Mode of Application
- Deoxidizer
- Inoculants
- Others
By Type
- Atomized Ferrosilicon
- Milled Ferrosilicon
By Application
- Carbon & Other Alloy Steel
- Stainless Steel
- Electric Steel
- Cast Iron
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Ferrosilicon Market, (2024 – 2033) (USD Billion)
- 2.2 Global Ferrosilicon Market: snapshot
- Chapter 3. Global Ferrosilicon Market – Industry Analysis
- 3.1 Ferrosilicon Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Growing Usage of Ferrosilicon in Steel Industry
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Mode of Application
- 3.7.2 Market Attractiveness Analysis By Type
- 3.7.3 Market Attractiveness Analysis By Application
- Chapter 4. Global Ferrosilicon Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Ferrosilicon Market: Company Market Share, 2022
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, collaboration, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Ferrosilicon Market – Mode of Application Analysis
- 5.1 Global Ferrosilicon Market Overview: By Mode of Application
- 5.1.1 Global Ferrosilicon Market Share, By Mode of Application, 2022 and – 2033
- 5.2 Deoxidizer
- 5.2.1 Global Ferrosilicon Market by Deoxidizer, 2024 – 2033 (USD Billion)
- 5.3 Inoculants
- 5.3.1 Global Ferrosilicon Market by Inoculants, 2024 – 2033 (USD Billion)
- 5.4 Other
- 5.4.1 Global Ferrosilicon Market by Other, 2024 – 2033 (USD Billion)
- 5.1 Global Ferrosilicon Market Overview: By Mode of Application
- Chapter 6. Global Ferrosilicon Market – Type Analysis
- 6.1 Global Ferrosilicon Market Overview: By Type
- 6.1.1 Global Ferrosilicon Market Share, By Type, 2022 and – 2033
- 6.2 Atomized Ferrosilicon
- 6.2.1 Global Ferrosilicon Market by Atomized Ferrosilicon, 2024 – 2033 (USD Billion)
- 6.3 Milled Ferrosilicon
- 6.3.1 Global Ferrosilicon Market by Milled Ferrosilicon, 2024 – 2033 (USD Billion)
- 6.1 Global Ferrosilicon Market Overview: By Type
- Chapter 7. Global Ferrosilicon Market – Application Analysis
- 7.1 Global Ferrosilicon Market Overview: By Application
- 7.1.1 Global Ferrosilicon Market Share, By Application, 2022 and – 2033
- 7.2 Carbon & Other Alloy Steel
- 7.2.1 Global Ferrosilicon Market by Carbon & Other Alloy Steel, 2024 – 2033 (USD Billion)
- 7.3 Stainless Steel
- 7.3.1 Global Ferrosilicon Market by Stainless Steel, 2024 – 2033 (USD Billion)
- 7.4 Electric Steel
- 7.4.1 Global Ferrosilicon Market by Electric Steel, 2024 – 2033 (USD Billion)
- 7.5 Cast Iron
- 7.5.1 Global Ferrosilicon Market by Cast Iron, 2024 – 2033 (USD Billion)
- 7.6 Others
- 7.6.1 Global Ferrosilicon Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Ferrosilicon Market Overview: By Application
- Chapter 8. Ferrosilicon Market – Regional Analysis
- 8.1 Global Ferrosilicon Market Regional Overview
- 8.2 Global Ferrosilicon Market Share, by Region, 2022 & – 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Ferrosilicon Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.4 North America Ferrosilicon Market, by Mode of Application, 2024 – 2033
- 8.4.1 North America Ferrosilicon Market, by Mode of Application, 2024 – 2033 (USD Billion)
- 8.5 North America Ferrosilicon Market, by Type, 2024 – 2033
- 8.5.1 North America Ferrosilicon Market, by Type, 2024 – 2033 (USD Billion)
- 8.6 North America Ferrosilicon Market, by Application, 2024 – 2033
- 8.6.1 North America Ferrosilicon Market, by Application, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Ferrosilicon Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Ferrosilicon Market, by Mode of Application, 2024 – 2033
- 8.8.1 Europe Ferrosilicon Market, by Mode of Application, 2024 – 2033 (USD Billion)
- 8.9 Europe Ferrosilicon Market, by Type, 2024 – 2033
- 8.9.1 Europe Ferrosilicon Market, by Type, 2024 – 2033 (USD Billion)
- 8.10 Europe Ferrosilicon Market, by Application, 2024 – 2033
- 8.10.1 Europe Ferrosilicon Market, by Application, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Ferrosilicon Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Ferrosilicon Market, by Mode of Application, 2024 – 2033
- 8.12.1 Asia Pacific Ferrosilicon Market, by Mode of Application, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Ferrosilicon Market, by Type, 2024 – 2033
- 8.13.1 Asia Pacific Ferrosilicon Market, by Type, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Ferrosilicon Market, by Application, 2024 – 2033
- 8.14.1 Asia Pacific Ferrosilicon Market, by Application, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Ferrosilicon Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Ferrosilicon Market, by Mode of Application, 2024 – 2033
- 8.16.1 Latin America Ferrosilicon Market, by Mode of Application, 2024 – 2033 (USD Billion)
- 8.17 Latin America Ferrosilicon Market, by Type, 2024 – 2033
- 8.17.1 Latin America Ferrosilicon Market, by Type, 2024 – 2033 (USD Billion)
- 8.18 Latin America Ferrosilicon Market, by Application, 2024 – 2033
- 8.18.1 Latin America Ferrosilicon Market, by Application, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Ferrosilicon Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Ferrosilicon Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Ferrosilicon Market, by Mode of Application, 2024 – 2033
- 8.20.1 The Middle-East and Africa Ferrosilicon Market, by Mode of Application, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Ferrosilicon Market, by Type, 2024 – 2033
- 8.21.1 The Middle-East and Africa Ferrosilicon Market, by Type, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Ferrosilicon Market, by Application, 2024 – 2033
- 8.22.1 The Middle-East and Africa Ferrosilicon Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 American Elements
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Assmang Limited
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 China National BlueStar (Group) Co. Ltd.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Cometal S.A.
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 DMS Powders
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Elkem
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Eramet SA
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 ERG Brazil
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 Ferro Alloys Corporation Limited (FACOR)
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 FerroAtlántica (part of Grupo FerroAtlántica)
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Finnfjord AS
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Georgian American Alloys Inc.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Globe Specialty Metals
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Harsco Metals Poland S.A.
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Indian Metals and Ferro Alloys Limited (IMFA)
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Maithan Alloys Ltd
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Mississippi Silicon
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 Reade International Corp.
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 S.C. Feral S.A.
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 Sarawak Aluminium Company Sdn Bhd (SALCO)
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Silicon Smelters (Pty) Ltd
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.22 Simcoa Operations Pty Ltd
- 9.22.1 Overview
- 9.22.2 Financials
- 9.22.3 Product Portfolio
- 9.22.4 Business Strategy
- 9.22.5 Recent Developments
- 9.23 Sinosteel Jilin Ferroalloy Corporation
- 9.23.1 Overview
- 9.23.2 Financials
- 9.23.3 Product Portfolio
- 9.23.4 Business Strategy
- 9.23.5 Recent Developments
- 9.24 Shyam Metalics
- 9.24.1 Overview
- 9.24.2 Financials
- 9.24.3 Product Portfolio
- 9.24.4 Business Strategy
- 9.24.5 Recent Developments
- 9.25 Others.
- 9.25.1 Overview
- 9.25.2 Financials
- 9.25.3 Product Portfolio
- 9.25.4 Business Strategy
- 9.25.5 Recent Developments
- 9.1 American Elements
List Of Figures
Figures No 1 to 26
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- American Elements
- Assmang Limited
- China National BlueStar (Group) Co. Ltd.
- Cometal S.A.
- DMS Powders
- Elkem
- Eramet SA
- ERG Brazil
- Ferro Alloys Corporation Limited (FACOR)
- FerroAtlántica (part of Grupo FerroAtlántica)
- Finnfjord AS
- Georgian American Alloys Inc.
- Globe Specialty Metals
- Harsco Metals Poland S.A.
- Indian Metals and Ferro Alloys Limited (IMFA)
- Maithan Alloys Ltd
- Mississippi Silicon
- Reade International Corp.
- C. Feral S.A.
- Sarawak Aluminium Company Sdn Bhd (SALCO)
- Silicon Smelters (Pty) Ltd
- Simcoa Operations Pty Ltd
- Sinosteel Jilin Ferroalloy Corporation
- Shyam Metalics
- Others
FAQs
The is lack of universal directives pertaining to usage of ferrosilicon major restraint in global Ferrosilicon market.
The Increasing demand for ferrosilicon in steel Industry is major driver in global Ferrosilicon market.
The “Atomized Ferrosilicon” category dominated the market in 2022.
The key players in the market are American Elements, Assmang Limited, China National BlueStar (Group) Co. Ltd., Cometal S.A., DMS Powders, Elkem, Eramet SA, ERG Brazil, Ferro Alloys Corporation Limited (FACOR), FerroAtlántica (part of Grupo FerroAtlántica), Finnfjord AS, Georgian American Alloys Inc., Globe Specialty Metals, Harsco Metals Poland S.A., Indian Metals and Ferro Alloys Limited (IMFA), Maithan Alloys Ltd, Mississippi Silicon, Reade International Corp., S.C. Feral S.A., Sarawak Aluminium Company Sdn Bhd (SALCO), Silicon Smelters (Pty) Ltd, Simcoa Operations Pty Ltd, Sinosteel Jilin Ferroalloy Corporation, Shyam Metalics, Others.
“Asia Pacific” had the largest share in the Ferrosilicon Market.
The global market is projected to grow at a CAGR of 2.7% during the forecast period, 2023-2032.
The Ferrosilicon Market size was valued at USD 11.09 Billion in 2023.