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Ferroalloys Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Ferrochrome, Ferromanganese, Ferro Silico Manganese, Special Alloys, and Others) and Application (Steel Making, Wire Manufacturing, Welding Electrodes, Superalloys, and Others)

May 2024 | 271 pages | ID: F17F8E5875CAEN
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The ferroalloys market size was valued at US$ 170.04 billion in 2023 and is expected to reach US$ 300.64 billion by 2031; it is estimated to register a CAGR of 7.4% from 2023 to 2031.

Ferroalloys are a group of alloys of iron containing one or more additional elements other than carbon. Ferroalloys have a high percentage of such elements as manganese, silicon, chromium, aluminum etc. Ferroalloys are mainly used as master alloys in the iron & steel industry since it is the most economical way to introduce an alloying element into the steel melt. Moreover, the global ferroalloys market size is likely to surge by 2031 owing to the growth in the global aerospace & defense industry. The aerospace industry is experiencing significant growth in technological advancements. In the industry, there is a rise in innovative ferroalloy applications, as ferroalloys contribute to fuel efficiency by reducing the overall aircraft weight and improving safety and reliability. The pursuit of sustainable transportation solutions and electrification in the aerospace industry has gained momentum. The utilization of ferroalloys in the production of lightweight, high-capacity batteries for electric aircraft aligns with the global transition toward green aviation.

According to the European Commission, the European Union established Horizon Europe in 2021, a research and innovation program with a total budget of ~US$ 103 billion, which includes aerospace research. Moreover, increased security risks and the need to enhance national border security have prompted governments of various countries to increase investments in defense and ballistic protection. Additionally, the rising demand for wind energy contributes significantly to the ferroalloys market growth.

Based on type, the market is segmented into ferrochrome, ferromanganese, ferro silico manganese, special alloys, and others. The special alloys segment accounts for the significant ferroalloys market share. Special alloys, also known as noble alloys, refer to a group of specialized alloys that contain one or more noble metals such as titanium (Ti), zirconium (Zr), tantalum (Ta), niobium (Nb), and vanadium (V), along with iron (Fe) and other elements. The alloys are characterized by their exceptional properties, including high strength, corrosion and heat resistance, and compatibility with various industrial processes. Ferrovanadium is one of the most widely used noble ferroalloys. It typically contains iron, vanadium, and small amounts of other elements such as aluminum (Al) and silicon (Si). Ferrovanadium is primarily used as an additive in the production of high-strength, low-alloy (HSLA) steels, which are widely used in structural applications, automotive components, and machinery manufacturing. The addition of ferrovanadium enhances the strength, toughness, and weldability of steel, making it suitable for demanding applications where durability and reliability are paramount. Ferrotitanium, another noble ferroalloy, is composed of iron and titanium, with trace amounts of carbon and other elements. Ferrotitanium is renowned for its exceptional strength-to-weight ratio, corrosion resistance, and heat resistance, making it an ideal choice for aerospace, defense, automotive, and medical applications.

In 2022, Asia Pacific held the largest share in the ferroalloys market. The region's extensive steel manufacturing industry drives substantial demand for ferroalloys, particularly ferrochrome, ferromanganese, and ferrosilicon, which are major raw materials in the steel-making industry. India has a strong steel industry fueled by infrastructure development, automotive manufacturing, and construction activities. Further, the emerging role of China and India as a global hub for electric vehicle manufacturing is expected to boost demand for ferrosilicon for the production of specialty steel used in automotive production.

Glencore Plc, Samancor Chrome, Jindal Stainless Ltd, Ferro Alloys Corporation Limited (FACOR), Erdos Group, Pertama Ferroalloys Sdn Bhd, Brahm Group, Tata Steel Ltd, Nikopol Ferroalloy Plant, and Nava Limited are among the prominent players profiled in the ferroalloys market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The ferroalloys market report also includes company positioning and concentration to evaluate the performance of competitors/players in the market.

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The overall global ferroalloys market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the ferroalloys market.
1. INTRODUCTION

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. EXECUTIVE SUMMARY

2.1 Key Insights
2.2 Market Attractiveness

3. RESEARCH METHODOLOGY

3.1 Secondary Research
3.2 Primary Research
  3.2.1 Hypothesis formulation:
  3.2.2 Macro-economic factor analysis:
  3.2.3 Developing base number:
  3.2.4 Data Triangulation:
  3.2.5 Country level data:

4. FERROALLOYS MARKET LANDSCAPE

4.1 Overview
4.2 Porters Analysis
  4.2.1 Bargaining Power of Suppliers
  4.2.2 Bargaining Power of Buyers
  4.2.3 Threat of New Entrants
  4.2.4 Intensity of Competitive Rivalry
  4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
  4.3.1 Raw Material Suppliers
  4.3.2 Ferroalloys Manufacturers
  4.3.3 Distributors/Suppliers
  4.3.4 End-Use Industry
  4.3.5 List of Vendors in Value Chain

5. FERROALLOYS MARKET – KEY MARKET DYNAMICS

5.1 Ferroalloys Market – Key Market Dynamics
5.2 Market Drivers
  5.2.1 Rising Demand for Ferroalloys in Automotive Industry
  5.2.2 Rise in Infrastructure Development Investments by Government Bodies
5.3 Market Restraints
  5.3.1 Fluctuations in Raw Material Prices
5.4 Market Opportunities
  5.4.1 Growth in Global Aerospace & Defense Industry
5.5 Future Trends
  5.5.1 Growing Adoption of Superalloys
5.6 Impact of Drivers and Restraints:

6. FERROALLOYS MARKET – GLOBAL MARKET ANALYSIS

6.1 Ferroalloys Market Volume (Thousand Tons), 2023–2031
6.2 Ferroalloys Market Volume Forecast and Analysis (Thousand Tons)
6.3 Ferroalloys Market Revenue (US$ Billion), 2023–2031
6.4 Ferroalloys Market Forecast and Analysis

7. FERROALLOYS MARKET VOLUME AND REVENUE ANALYSIS – BY TYPE

7.1 Ferrochrome
  7.1.1 Overview
  7.1.2 Ferrochrome: Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  7.1.3 Ferrochrome: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
7.2 Ferromanganese
  7.2.1 Overview
  7.2.2 Ferromanganese: Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  7.2.3 Ferromanganese: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
7.3 Ferro Silico Manganese
  7.3.1 Overview
  7.3.2 Ferro Silico Manganese: Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  7.3.3 Ferro Silico Manganese: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
7.4 Special Alloys
  7.4.1 Overview
  7.4.2 Special Alloys: Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  7.4.3 Special Alloys: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
7.5 Others
  7.5.1 Overview
  7.5.2 Others: Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  7.5.3 Others: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)

8. FERROALLOYS MARKET REVENUE ANALYSIS – BY APPLICATION

8.1 Steel Making
  8.1.1 Overview
  8.1.2 Steel Making: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
8.2 Wire Manufacturing
  8.2.1 Overview
  8.2.2 Wire Manufacturing: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
8.3 Welding Electrodes
  8.3.1 Overview
  8.3.2 Welding Electrodes: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
8.4 Superalloys
  8.4.1 Overview
  8.4.2 Superalloys: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
8.5 Others
  8.5.1 Overview
  8.5.2 Others: Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)

9. FERROALLOYS MARKET – GEOGRAPHICAL ANALYSIS

9.1 Overview
9.2 North America
  9.2.1 North America Ferroalloys Market Overview
  9.2.2 North America Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  9.2.3 North America Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
  9.2.4 North America Ferroalloys Market Breakdown by Type
    9.2.4.1 North America Ferroalloys Market Volume and Forecast and Analysis – by Type
    9.2.4.2 North America Ferroalloys Market Revenue and Forecast and Analysis –by Type
  9.2.5 North America Ferroalloys Market Breakdown by Application
    9.2.5.1 North America Ferroalloys Market Revenue and Forecast and Analysis –by Application
  9.2.6 North America Ferroalloys Market Revenue and Forecast and Analysis – by Country
    9.2.6.1 North America Ferroalloys Market Volume and Forecast and Analysis – by Country
    9.2.6.2 North America Ferroalloys Market Revenue and Forecast and Analysis –by Country
    9.2.6.3 United States Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.2.6.3.1 United States Ferroalloys Market Breakdown by Type
      9.2.6.3.2 United States Ferroalloys Market Breakdown by Application
    9.2.6.4 Canada Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.2.6.4.1 Canada Ferroalloys Market Breakdown by Type
      9.2.6.4.2 Canada Ferroalloys Market Breakdown by Application
    9.2.6.5 Mexico Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.2.6.5.1 Mexico Ferroalloys Market Breakdown by Type
      9.2.6.5.2 Mexico Ferroalloys Market Breakdown by Application
9.3 Europe
  9.3.1 Europe Ferroalloys Market Overview
  9.3.2 Europe Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  9.3.3 Europe Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
  9.3.4 Europe Ferroalloys Market Breakdown by Type
    9.3.4.1 Europe Ferroalloys Market Volume and Forecast and Analysis – by Type
    9.3.4.2 Europe Ferroalloys Market Revenue and Forecast and Analysis –by Type
  9.3.5 Europe Ferroalloys Market Breakdown by Application
    9.3.5.1 Europe Ferroalloys Market Revenue and Forecast and Analysis –by Application
  9.3.6 Europe Ferroalloys Market Revenue and Forecast and Analysis – by Country
    9.3.6.1 Europe Ferroalloys Market Volume and Forecast and Analysis – by Country
    9.3.6.2 Europe Ferroalloys Market Revenue and Forecast and Analysis –by Country
    9.3.6.3 Germany Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.3.6.3.1 Germany Ferroalloys Market Breakdown by Type
      9.3.6.3.2 Germany Ferroalloys Market Breakdown by Application
    9.3.6.4 France Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.3.6.4.1 France Ferroalloys Market Breakdown by Type
      9.3.6.4.2 France Ferroalloys Market Breakdown by Application
    9.3.6.5 Italy Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.3.6.5.1 Italy Ferroalloys Market Breakdown by Type
      9.3.6.5.2 Italy Ferroalloys Market Breakdown by Application
    9.3.6.6 United Kingdom Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.3.6.6.1 United Kingdom Ferroalloys Market Breakdown by Type
      9.3.6.6.2 United Kingdom Ferroalloys Market Breakdown by Application
    9.3.6.7 Russia Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.3.6.7.1 Russia Ferroalloys Market Breakdown by Type
      9.3.6.7.2 Russia Ferroalloys Market Breakdown by Application
    9.3.6.8 Rest of Europe Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.3.6.8.1 Rest of Europe Ferroalloys Market Breakdown by Type
      9.3.6.8.2 Rest of Europe Ferroalloys Market Breakdown by Application
9.4 Asia Pacific
  9.4.1 Asia Pacific Ferroalloys Market Overview
  9.4.2 Asia Pacific Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  9.4.3 Asia Pacific Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
  9.4.4 Asia Pacific Ferroalloys Market Breakdown by Type
    9.4.4.1 Asia Pacific Ferroalloys Market Volume and Forecast and Analysis – by Type
    9.4.4.2 Asia Pacific Ferroalloys Market Revenue and Forecast and Analysis –by Type
  9.4.5 Asia Pacific Ferroalloys Market Breakdown by Application
    9.4.5.1 Asia Pacific Ferroalloys Market Revenue and Forecast and Analysis –by Application
  9.4.6 Asia Pacific Ferroalloys Market Revenue and Forecast and Analysis – by Country
    9.4.6.1 Asia Pacific Ferroalloys Market Volume and Forecast and Analysis – by Country
    9.4.6.2 Asia Pacific Ferroalloys Market Revenue and Forecast and Analysis –by Country
    9.4.6.3 Australia Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.4.6.3.1 Australia Ferroalloys Market Breakdown by Type
      9.4.6.3.2 Australia Ferroalloys Market Breakdown by Application
    9.4.6.4 China Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.4.6.4.1 China Ferroalloys Market Breakdown by Type
      9.4.6.4.2 China Ferroalloys Market Breakdown by Application
    9.4.6.5 India Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.4.6.5.1 India Ferroalloys Market Breakdown by Type
      9.4.6.5.2 India Ferroalloys Market Breakdown by Application
    9.4.6.6 Japan Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.4.6.6.1 Japan Ferroalloys Market Breakdown by Type
      9.4.6.6.2 Japan Ferroalloys Market Breakdown by Application
    9.4.6.7 South Korea Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.4.6.7.1 South Korea Ferroalloys Market Breakdown by Type
      9.4.6.7.2 South Korea Ferroalloys Market Breakdown by Application
    9.4.6.8 Rest of APAC Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.4.6.8.1 Rest of APAC Ferroalloys Market Breakdown by Type
      9.4.6.8.2 Rest of APAC Ferroalloys Market Breakdown by Application
9.5 Middle East and Africa
  9.5.1 Middle East and Africa Ferroalloys Market Overview
  9.5.2 Middle East and Africa Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  9.5.3 Middle East and Africa Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
  9.5.4 Middle East and Africa Ferroalloys Market Breakdown by Type
    9.5.4.1 Middle East and Africa Ferroalloys Market Volume and Forecast and Analysis – by Type
    9.5.4.2 Middle East and Africa Ferroalloys Market Revenue and Forecast and Analysis –by Type
  9.5.5 Middle East and Africa Ferroalloys Market Breakdown by Application
    9.5.5.1 Middle East and Africa Ferroalloys Market Revenue and Forecast and Analysis –by Application
  9.5.6 Middle East and Africa Ferroalloys Market Revenue and Forecast and Analysis – by Country
    9.5.6.1 Middle East and Africa Ferroalloys Market Volume and Forecast and Analysis – by Country
    9.5.6.2 Middle East and Africa Ferroalloys Market Revenue and Forecast and Analysis –by Country
    9.5.6.3 South Africa Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.5.6.3.1 South Africa Ferroalloys Market Breakdown by Type
      9.5.6.3.2 South Africa Ferroalloys Market Breakdown by Application
    9.5.6.4 Saudi Arabia Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.5.6.4.1 Saudi Arabia Ferroalloys Market Breakdown by Type
      9.5.6.4.2 Saudi Arabia Ferroalloys Market Breakdown by Application
    9.5.6.5 United Arab Emirates Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.5.6.5.1 United Arab Emirates Ferroalloys Market Breakdown by Type
      9.5.6.5.2 United Arab Emirates Ferroalloys Market Breakdown by Application
    9.5.6.6 Rest of Middle East and Africa Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.5.6.6.1 Rest of Middle East and Africa Ferroalloys Market Breakdown by Type
      9.5.6.6.2 Rest of Middle East and Africa Ferroalloys Market Breakdown by Application
9.6 South and Central America
  9.6.1 South and Central America Ferroalloys Market Overview
  9.6.2 South and Central America Ferroalloys Market – Volume and Forecast to 2031 (Thousand Tons)
  9.6.3 South and Central America Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
  9.6.4 South and Central America Ferroalloys Market Breakdown by Type
    9.6.4.1 South and Central America Ferroalloys Market Volume and Forecast and Analysis – by Type
    9.6.4.2 South and Central America Ferroalloys Market Revenue and Forecast and Analysis –by Type
  9.6.5 South and Central America Ferroalloys Market Breakdown by Application
    9.6.5.1 South and Central America Ferroalloys Market Revenue and Forecast and Analysis –by Application
  9.6.6 South and Central America Ferroalloys Market Revenue and Forecast and Analysis – by Country
    9.6.6.1 South and Central America Ferroalloys Market Volume and Forecast and Analysis – by Country
    9.6.6.2 South and Central America Ferroalloys Market Revenue and Forecast and Analysis –by Country
    9.6.6.3 Brazil Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.6.6.3.1 Brazil Ferroalloys Market Breakdown by Type
      9.6.6.3.2 Brazil Ferroalloys Market Breakdown by Application
    9.6.6.4 Argentina Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.6.6.4.1 Argentina Ferroalloys Market Breakdown by Type
      9.6.6.4.2 Argentina Ferroalloys Market Breakdown by Application
    9.6.6.5 Rest of South and Central America Ferroalloys Market – Revenue and Forecast to 2031 (US$ Billion)
      9.6.6.5.1 Rest of South and Central America Ferroalloys Market Breakdown by Type
      9.6.6.5.2 Rest of South and Central America Ferroalloys Market Breakdown by Application

10. FERROALLOYS MARKET – IMPACT OF COVID-19 PANDEMIC

10.1 Pre & Post Covid-19 Impact

11. COMPETITIVE LANDSCAPE

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. INDUSTRY LANDSCAPE

12.1 Overview
12.2 Mergers and Acquisitions
12.3 Expansion
12.4 Partnerships and Collaborations

13. COMPANY PROFILES

13.1 Glencore Plc
  13.1.1 Key Facts
  13.1.2 Business Description
  13.1.3 Products and Services
  13.1.4 Financial Overview
  13.1.5 SWOT Analysis
  13.1.6 Key Developments
13.2 Samancor Chrome
  13.2.1 Key Facts
  13.2.2 Business Description
  13.2.3 Products and Services
  13.2.4 Financial Overview
  13.2.5 SWOT Analysis
  13.2.6 Key Developments
13.3 Jindal Stainless Ltd
  13.3.1 Key Facts
  13.3.2 Business Description
  13.3.3 Products and Services
  13.3.4 Financial Overview
  13.3.5 SWOT Analysis
  13.3.6 Key Developments
13.4 Ferro Alloys Corporation Limited (FACOR)
  13.4.1 Key Facts
  13.4.2 Business Description
  13.4.3 Products and Services
  13.4.4 Financial Overview
  13.4.5 SWOT Analysis
  13.4.6 Key Developments
13.5 Erdos Group
  13.5.1 Key Facts
  13.5.2 Business Description
  13.5.3 Products and Services
  13.5.4 Financial Overview
  13.5.5 SWOT Analysis
  13.5.6 Key Developments
13.6 Pertama Ferroalloys Sdn Bhd
  13.6.1 Key Facts
  13.6.2 Business Description
  13.6.3 Products and Services
  13.6.4 Financial Overview
  13.6.5 SWOT Analysis
  13.6.6 Key Developments
13.7 Brahm Group
  13.7.1 Key Facts
  13.7.2 Business Description
  13.7.3 Products and Services
  13.7.4 Financial Overview
  13.7.5 SWOT Analysis
  13.7.6 Key Developments
13.8 Tata Steel Ltd
  13.8.1 Key Facts
  13.8.2 Business Description
  13.8.3 Products and Services
  13.8.4 Financial Overview
  13.8.5 SWOT Analysis
  13.8.6 Key Developments
13.9 Nikopol Ferroalloy Plant
  13.9.1 Key Facts
  13.9.2 Business Description
  13.9.3 Products and Services
  13.9.4 Financial Overview
  13.9.5 SWOT Analysis
  13.9.6 Key Developments
13.10 Nava Limited
  13.10.1 Key Facts
  13.10.2 Business Description
  13.10.3 Products and Services
  13.10.4 Financial Overview
  13.10.5 SWOT Analysis
  13.10.6 Key Developments

14. APPENDIX

14.1 About The Insight Partners


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