Ferroalloys Market Size, Growth Trends, Forecasts, and Market Share Analysis, 2023-2030
Global Ferroalloys Market is anticipated to surpass US$ 83.2 billion by 2030, observing a growth rate of over 7.1%, annually
Wilmington, Delaware, Sept. 08, 2023 (GLOBE NEWSWIRE) —
Global Ferroalloys Market: Segmental and Market Share Analysis
- On the basis of type, in 2020, the ferromanganese segment had a market share of more than 17%. In terms of volume in the ferroalloy market. Ferromanganese is primarily used in the steel and foundry sectors.
- On the basis of application, in 2020, the stainless-steel category dominated the market, accounting for more than 32% of the total market share. Over the forecast period, the segment is expected to grow at a profitable CAGR.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 48.1 billion |
| Market Size Forecast | US$ 83.2 billion |
| Growth Rate | 7.1% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global ferroalloys market include,
- In April 2021, Tata Steel Mining (TSML) has confirmed its plan to double its Ferrochrome capacity to 9 lakh tons per annum in India. TSML has already become the largest chrome ore mining company in India after the acquisition of Karmada, Saruabli, and Sukinda mines.
Some of the prominent players and suppliers operating and contributing significantly to the global ferroalloys market growth include Glencore, Samancore Chrome, Shanghai Shenjia Ferroalloys Co. Ltd, Ferro Alloys Corporation Limited., C. Feral S.R.L, Tata Steel Limited – Ferro Alloys & Minerals Division, Arcelor Mittal, China Minmetals, SAIL, and Jindal Group, among others.
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RationalStat has segmented the global ferroalloys market based on type, application and region
- Global Ferroalloys Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Type
- Ferrochrome
- Ferromanganese
- Ferro Silico Manganese
- Ferrosilicon
- Global Ferroalloys Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Application
- Carbon & Low Alloy steel
- Stainless Steel
- Alloy Steel
- Cast Iron
- Others
- Global Ferroalloys Market Value (US$ Million), Volume (Tons), and Market Share (2019-2030) Analysis by Region
- North America FerroalloysMarket
- US
- Canada
- Latin America FerroalloysMarket
- Brazil
- Mexico
- Rest of Latin America
- Western Europe FerroalloysMarket
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe FerroalloysMarket
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific FerroalloysMarket
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa FerroalloysMarket
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America FerroalloysMarket
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Key Questions Answered in the Ferroalloys Report:
- What will be the market value of the global ferroalloys 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 ferroalloys market?
- Which is the leading region in the global ferroalloys market?
- What are the major companies operating in the global ferroalloys market?
- What are the market shares by key segments in the global ferroalloys market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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