DUBLIN–(BUSINESS WIRE)–The “Global Ferrosilicon Alloy Materials Market, by Application, End-User, and Region – Forecast and Analysis 2022-2027” report has been added to from ResearchAndMarkets.com offer.
According to Verified Market Research, Global Ferrosilicon Alloy Materials Market was valued at USD 4,437.24 Million in 2021, and it is projected to reach a value of USD 8,064.52 Million by 2027, at a CAGR of over 10.47% sur the forecast period (2022 – 2027).
The market is expected to decline due to the low consumption of ferrosilicon alloy per ton of raw steel globally. Additionally, low growth in cast iron production is stifling market demand and is expected to continue during the forecast period.
Ferrosilicon has a close relationship with steel production industries. It was mainly used as a deoxidizer in steel industries due to its properties. Due to its superior properties such as high tensile strength and excellent durability, ferrosilicon alloys are widely used in various end-use industries such as automotive, construction, aerospace and defense.
The alloying of ferrosilicon with other metals makes the compound useful in the production of semiconductors. Semiconductors have a huge demand from the electronics industry and the rapid industrialization and growing demand for electronics are believed to increase the use of ferrosilicon in various applications.
Alternative products, such as ferroaluminum, ferromagnesium and ferrochrome, are preferred over ferro-silicon in the steel industry, due to their easy availability. This factor is likely to hamper the global ferrosilicon market during the forecast period. The raw materials for the manufacture of ferrosilicon alloys such as quartz and iron oxide are polluting components. Continuous exposure to ferrosilicon has caused cancer in mining workers. This is another limiting factor in the global ferrosilicon alloy market.
The report provides market assessment and forecast in five major regions, namely North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), and Middle East & South America. Africa (MEA). In this report, the year 2016 to 2020 is considered as the historical year, 2021 is the base year, 2022 is the estimated year, and the years 2022 to 2027 are considered as the forecast period.
Both top-down and bottom-up approaches have been used to estimate and validate the size of the Global Ferrosilicon Alloys Market and to estimate the size of various other dependent submarkets.
The research methodology used to estimate the market size includes the following details: Major market players have been identified through secondary research and their market shares in respective regions have been determined through primary and secondary research. This whole procedure includes the study of annual and financial reports of the main market players and in-depth interviews to obtain key information from industry leaders such as CEOs, VPs, directors and managers. marketing.
All breakdowns and percentage breakdowns have been determined using secondary sources and verified using primary sources. All the possible parameters that affect the markets covered in this research study have been considered, thoroughly investigated, verified through primary research and analyzed to get the final quantitative and qualitative data.
Aspects covered in this report
Based on application, this market is segmented into deoxidizer, inoculant and others.
Based on end user, this market is segmented into carbon steel and other alloys, stainless steel, electrical steel, cast iron and others.
Based on region, this market is categorized into North America, Europe and Asia-Pacific.
The players in this market have adopted various strategies to expand their global footprint and increase their market share. The key strategies followed by most companies in the global ferrosilicon alloy materials market were agreements and collaborations, mergers and acquisitions, and expansion.
Crown Ferro Alloys
Fw Winter Inc
Stanford Advanced Materials
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