WILMINGTON, Delaware, Sept. 08, 2023 (GLOBE NEWSWIRE) — global ferroalloys market is valued at US$48.1 billion in 2022 and is expected to grow significantly CAGR of more than 7.1% As per the latest market report, in the forecast period of 2023-2030 rationalstate
Market Definition, Market Scope and Report Overview
Ferroalloys are a group of iron alloys that contain a high percentage of one or more other elements, most commonly manganese (Mn), silicon (Si), chromium (Cr), and other metals. These alloys are used as additives in the production of steel and other iron-based alloys to impart specific properties or characteristics.
Most of the iron alloy is consumed in the steel sector. Demand for steel for construction, infrastructure development, and production of goods and equipment has increased as urbanization and industrialization spreads internationally. This necessitates the use of ferroalloys to improve the properties of steel.
- According to an in-depth market assessment by RationalStat, the global ferroalloy market has been analyzed Based on market segments including type, application and geography/regions (Including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific), The report also provides the global and regional market size for the historical period 2019-2022 and the forecast period 2023-2030.
- Market information for the global ferroalloy market by various products/services/equipment based on market size (US$/Euro million) and volume (tonnes), assessment of demand in key regions, customer sentiments, price points, cost Covers. Structures, margin analysis across the value chain, financial valuations, historical and forecast data, key developments across the industry, import-export data, trade overview, component markets by leading companies, etc.
- Furthermore, the long-term scope and 10-year outlook of the products/services and its impact on the global Ferroalloy market. It also includes the current state of the industry – production levels, capacity utilization, technology quotient, etc. The key information will be manufacturing capacity, installed base, import volume, market size, key players, market size, dynamics, market data, insights by country. etc.
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global Ferroalloys Market: Segmental and Market Share Analysis
- Based on type, the ferromanganese segment had a market share of over 17% in 2020. In terms of volume in the ferroalloy market. Ferromanganese is mainly used in the steel and foundry sectors.
- Based on application, in 2020, the stainless-steel category dominated the market, accounting for more than 32% of the total market share. During the forecast period, this segment is expected to grow at a profitable CAGR.
|base year market size||US$48.1 billion|
|Market Size Forecast||US$83.2 billion|
|major market mover||
|Profile of companies||
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Competition Analysis and Market Structure
These players adopt various strategies to strengthen their market share and gain competitive edge over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies adopted by the industry players. Some of the key developments in the global ferroalloy market include,
- In April 2021, Tata Steel Mining (TSML) confirmed its plans to double its ferrochrome capacity in India to 9 lakh tonnes per annum. TSML has already become the largest chrome ore mining company in India after the acquisition of Karmada, Saruabali and Sukinda mines.
Some of the key players and suppliers significantly contributing to the growth of the global ferroalloy market include Glencore, Samancor Chrome, Shanghai Shengjia Ferroalloys Co. Ltd., Ferro Alloys Corporation Ltd., C. Feral S.r.l., Tata Steel Ltd. – Ferro Alloys & Minerals Division, ArcelorMittal, China Minmetals, SAIL and Jindal Group, among others.
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RationalState has fragmented the global ferroalloys Market by Type, Application and Region
- global ferroalloys market Value (US$M), Volume (Tons), and Market Share Analysis by Type (2019-2030)
- ferro silico manganese
- global ferroalloys market Value (US$M), Volume (Tons), and Market Share (2019-2030) Analysis by Application
- carbon and low alloy steel
- Stainless Steel
- alloy steel
- raw iron
- global ferroalloys market Value (US$M), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- North America Ferroalloys Market
- Latin America Ferroalloy Market
- rest of latin america
- Western Europe Ferroalloys Market
- rest of western Europe
- Eastern Europe Ferroalloys Market
- other CIS countries
- rest of eastern Europe
- Asia Pacific Ferroalloys Market
- South Korea
- rest of asean
- rest of asia pacific
- Middle East and Africa FerroalloysMarket
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- remaining gcc
- South Africa
- Rest of the Middle East and Africa
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Key questions answered in the ferroalloys report:
- What will be the market value of the global ferroalloy market by 2030?
- What is the market size of the global ferroalloys market?
- What are the market drivers of the global ferroalloys market?
- What are the key trends in the global ferroalloy market?
- Which is the leading region in the global ferroalloys market?
- Who are the major companies operating in the global ferroalloy market?
- What is the market share of the major segments in the global ferroalloys market?
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RationalStats has developed a cutting-edge research methodology to understand the numbers and provide clients with the best possible real-time information. We combine a diverse range of industry experience, data analysis and experts’ perspectives to create a research methodology for market sizing and forecasting.
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- Defining the problem by understanding the type of market and the data required by the customer.
- Collecting and storing data through relevant payment databases, publicly available sources, company reports, annual reports, surveys and interviews.
- Formulating a hypothesis to generate market numbers, forecasts, influencing factors and their relevance.
- Evaluate and analyze data by referencing the data sources used and leveraged.
- Validate, interpret and finalize the data by combining details collected from primary and secondary sources with the help of experienced analysts.
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