Asia Pacific leads Global Bulk Ferroalloys Market

Posted by Deeksha on October 11th, 2019

Ferroalloys are iron alloys that contain significant proportion of other elements including manganese, silicon and aluminum. Ferroalloys are used to produce steel and its alloys owing to their capability to impart distinctive properties to steel. They are generally produced by carbothermic reactions that involves oxide reduction with carbon, in presence of iron. Steel has become the mainstay of construction domain and is used extensively in end-use industries that include super alloys production, welding electrodes production and wire production. According to a report, during the forecast period 2017-2025 the global ferroalloy market is expected to grow with 5.9% CAGR and is projected to reach US8.7 million by 2025 end. An intelligence report titled, “Bulk Ferroalloys Market – Global industry Analysis, Size, Share, Growth, Trends, And Forecast 2019 - 2027 is the source of all the stated insights. This report is the latest addition to Market Research Hub’s ever growing repository.

Nobel alloys generate revenue

Bulk ferroalloys and noble Ferro alloys form the two major segments of global ferroalloys market where the former can be further segmented into ferrosilicon, ferrochromium, ferro-silico-chromium and ferro manganese. Manganese holds significance in ferroalloys context as it plays a vital role in steel and cast iron production.

Bulk ferroalloys are capable to provide desired properties to steel which makes ferroalloys very popular in end users. 80% of ferroalloys are used in steel production as they are cheap and abundantly produced. Ferro alloys are preferred over noble alloys produced from rare earth elements as the latter involves very expensive and energy consuming industrial processes. In spite of comparatively less consumption, noble ferroalloys generate overall high revenue. Stringent pollution regulations and high operational costs inhibit bulk ferroalloys growth.

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Emerging technologies increase consumption

Asia pacific dominates global bulk ferroalloys market and accounts for 79.5% of global demand. Recovering and growing economies in many countries that include North America, Asia pacific and Africa drive the bulk ferroalloys market around the globe. Moreover, consumption and export of Ferro alloys market has increased in developing countries including Japan, China and India as they engage emerging technologies in production of ferroalloys.

Global bulk ferroalloys market is dominated by major stake holders that include Arcelor Mittal, Sakura Ferroalloys, Tata Steel, Gulf Ferroalloys Company, Brahm Group, OM Holdings LTD, Pertama Ferroalloys, NikoPol Ferroalloy Plant, BAFA Bahrain, Shanghai Shenjia Ferroalloys Co. Ltd., MORTEX Group, Georgian American Alloys and SAIL.

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Global bulk ferroalloys market: Report Synopsis

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Global bulk ferroalloys market: Research Methodology

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