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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Ferroalloys Market Analysis by Region
The Asia Pacific is the largest market for ferro alloys globally, representing more than half of the global demand. Further, China is the largest market in APAC, contributing to 71.5% of the demand in 2023. China is the world's largest consumer and producer of crude steel as well as the largest ferroalloys producer and consumer.
China is one of the key countries engaged in ferroalloy production. The top ten ferro-alloy-producing provinces in China include Inner Mongolia, Ningxia, Guangxi, Shaanxi, Qinghai, Hunan, Guizhou, Shanxi, Shandong, and Gansu. As per the China Ferroalloy Industry Association, in the first four months of 2023, China produced 1.168 million tons of ferroalloy products, with the top ten provinces producing 85.55% of the total.
In Europe, the presence of efficient production processes, specific know-how, and high standards support the ferroalloys market growth. In 2020, ferrochromium production in Russia constituted 390,000 tons, ferromanganese - 240,000 tons, ferrosilicon – 830,000 tons, and ferromolybdenum - 4,700 tons.
The Middle East construction sector is dominated by the KSA and UAE with a total pipeline of USD 1.36 billion of projects (currently under development). The infrastructure sector in the region is transforming as a result of several government initiatives.
Ferroalloys Market Report Snapshots
Ferroalloys Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market attained a volume of 49,970.0 KMT in 2023.
The market is estimated to grow at a CAGR of 2.1% during 2024-2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a volume of 60,460.5 KMT by 2032.
The major drivers of the market include the availability of iron ore in abundance and the various advantages offered by ferroalloys.
The expansion of the construction sector, increasing demand for steel, and the growing demand from end-use sectors are the key trends propelling the growth of the market.
The key regional markets for ferroalloys are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The key applications of the product are stainless steel, carbon steel, welding electrode, superalloys, others.
The key players in the market include Tata Steel Limited, AMG Vanadium LLC, Metraco NV, DS Alloyd Pvt. Ltd., LekonGermess Ltd., Glencore Plc., Ferro Alloys Corporation Limited, and Essel Mining & Industries Limited, among others.
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