Middle East & Africa Ferroalloys Market Forecast to 2031 - Regional Analysis - by Type (Ferrochrome, Ferromanganese, Ferro Silico Manganese, Special Alloys, and Others) and Application (Steel Making, Wire Manufacturing, Welding Electrodes, Superalloys, and Others)
The Middle East & Africa ferroalloys market was valued at US$ 13.01 billion in 2023 and is expected to reach US$ 19.46 billion by 2031; it is estimated to register a CAGR of 5.2% from 2023 to 2031.
Growing Adoption of Superalloys Boosts Middle East & Africa Ferroalloys Market
Superalloys are high-performance materials engineered to withstand extreme temperatures, corrosion, and mechanical stress, making them ideal for applications in harsh operating conditions. In the aerospace industry, superalloys play a critical role in the production of aircraft engines, gas turbines, and components subjected to high temperatures and mechanical loads. These alloys offer exceptional strength and oxidation resistance, allowing the efficient and reliable operation of jet engines and other propulsion systems. In the energy industry, superalloys are used in gas and steam turbines, and oil and gas exploration equipment. The infrastructure development of renewable energy sources, such as wind and solar power, also boosts the utilization of superalloys in the manufacturing of turbine blades, generator components, and heat exchangers-supporting the transition to clean and sustainable energy sources.
The adoption of superalloys is driven by the ongoing research and development efforts aimed at improving the material properties, manufacturing processes, and cost-effectiveness. Advances in alloy design and processing techniques enable the development of a new generation of superalloys with superior performance characteristics. Ferroalloys are used in the production of superalloys that find application in various end-use industries. For instance, vacuum-grade Ferro-niobium alloy is used for superalloy additions in turbine blade applications in jet engines and land-based turbines. Thus, the growing adoption of superalloys is expected to positively influence the ferroalloys market in the coming years.
Middle East & Africa Ferroalloys Market Overview
Infrastructure projects, steel production, and natural resource availability drive the ferroalloy market in the Middle East & Africa. Countries such as Oman, Saudi Arabia, and the UAE have been focusing on diversifying their economies beyond oil and gas through investments in several industries, including steel production and alloy manufacturing. The Saudi government's Vision 2030 plan has placed a strong emphasis on infrastructure development, which has driven significant growth in the steel sector. As per the International Trade Administration, the construction sector's value in the UAE is expected to grow by 4.7% per annum in the next five years. The growth can be attributed to the increasing construction initiatives.
The region also marks the presence of several steel companies such as Al-Ittefaq Steel Products Company (ISPC), Saudi Iron & Steel Co, Zamil Steel Holding Company Limited, Aasia Steel Factory Co Ltd, Shaaban Steel, Modern Factory for Steel Industries, Alssad Steel for Industry Co, Abdulkarim Alrajhi Steel Company, Al Tilal Al Saudi Steel Industrial Factory, and Al Gaswa Steel Company Limited. According to the World Steel Association, in Saudi Arabia and the UAE, the total production of crude steel stood at 9.94 million metric tons and 3.77 million metric tons, respectively, in 2023. Thus, developments in the end-use industries fuel the demand for ferroalloys in the Middle East & Africa.
Middle East & Africa Ferroalloys Market Revenue and Forecast to 2031 (US$ Billion)
Middle East & Africa Ferroalloys Market Segmentation
The Middle East & Africa ferroalloys market is categorized into type, application, and country.
Based on type, the Middle East & Africa ferroalloys market is segmented into ferrochrome, ferromanganese, ferro silico manganese, special alloys, and others. The ferro silico manganese segment held the largest market share in 2023.
In terms of application, the Middle East & Africa ferroalloys market is categorized into steel making, wire manufacturing, welding electrodes, superalloys, and others. The steel making segment held the largest market share in 2023.
By country, the Middle East & Africa ferroalloys market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa ferroalloys market share in 2023.
Glencore Plc, Samancor Chrome, Brahm Group, Tata Steel Ltd, and Nava Ltd, are some of the leading companies operating in the Middle East & Africa ferroalloys market.
Growing Adoption of Superalloys Boosts Middle East & Africa Ferroalloys Market
Superalloys are high-performance materials engineered to withstand extreme temperatures, corrosion, and mechanical stress, making them ideal for applications in harsh operating conditions. In the aerospace industry, superalloys play a critical role in the production of aircraft engines, gas turbines, and components subjected to high temperatures and mechanical loads. These alloys offer exceptional strength and oxidation resistance, allowing the efficient and reliable operation of jet engines and other propulsion systems. In the energy industry, superalloys are used in gas and steam turbines, and oil and gas exploration equipment. The infrastructure development of renewable energy sources, such as wind and solar power, also boosts the utilization of superalloys in the manufacturing of turbine blades, generator components, and heat exchangers-supporting the transition to clean and sustainable energy sources.
The adoption of superalloys is driven by the ongoing research and development efforts aimed at improving the material properties, manufacturing processes, and cost-effectiveness. Advances in alloy design and processing techniques enable the development of a new generation of superalloys with superior performance characteristics. Ferroalloys are used in the production of superalloys that find application in various end-use industries. For instance, vacuum-grade Ferro-niobium alloy is used for superalloy additions in turbine blade applications in jet engines and land-based turbines. Thus, the growing adoption of superalloys is expected to positively influence the ferroalloys market in the coming years.
Middle East & Africa Ferroalloys Market Overview
Infrastructure projects, steel production, and natural resource availability drive the ferroalloy market in the Middle East & Africa. Countries such as Oman, Saudi Arabia, and the UAE have been focusing on diversifying their economies beyond oil and gas through investments in several industries, including steel production and alloy manufacturing. The Saudi government's Vision 2030 plan has placed a strong emphasis on infrastructure development, which has driven significant growth in the steel sector. As per the International Trade Administration, the construction sector's value in the UAE is expected to grow by 4.7% per annum in the next five years. The growth can be attributed to the increasing construction initiatives.
The region also marks the presence of several steel companies such as Al-Ittefaq Steel Products Company (ISPC), Saudi Iron & Steel Co, Zamil Steel Holding Company Limited, Aasia Steel Factory Co Ltd, Shaaban Steel, Modern Factory for Steel Industries, Alssad Steel for Industry Co, Abdulkarim Alrajhi Steel Company, Al Tilal Al Saudi Steel Industrial Factory, and Al Gaswa Steel Company Limited. According to the World Steel Association, in Saudi Arabia and the UAE, the total production of crude steel stood at 9.94 million metric tons and 3.77 million metric tons, respectively, in 2023. Thus, developments in the end-use industries fuel the demand for ferroalloys in the Middle East & Africa.
Middle East & Africa Ferroalloys Market Revenue and Forecast to 2031 (US$ Billion)
Middle East & Africa Ferroalloys Market Segmentation
The Middle East & Africa ferroalloys market is categorized into type, application, and country.
Based on type, the Middle East & Africa ferroalloys market is segmented into ferrochrome, ferromanganese, ferro silico manganese, special alloys, and others. The ferro silico manganese segment held the largest market share in 2023.
In terms of application, the Middle East & Africa ferroalloys market is categorized into steel making, wire manufacturing, welding electrodes, superalloys, and others. The steel making segment held the largest market share in 2023.
By country, the Middle East & Africa ferroalloys market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa ferroalloys market share in 2023.
Glencore Plc, Samancor Chrome, Brahm Group, Tata Steel Ltd, and Nava Ltd, are some of the leading companies operating in the Middle East & Africa 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. MIDDLE EAST & AFRICA 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
5. MIDDLE EAST & AFRICA FERROALLOYS MARKET - KEY MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Demand for Ferroalloys in Automotive Industry
5.1.2 Rise in Infrastructure Development Investments by Government Bodies
5.2 Market Restraints
5.2.1 Fluctuations in Raw Material Prices
5.3 Market Opportunities
5.3.1 Growth in Global Aerospace & Defense Industry
5.4 Future Trends
5.4.1 Growing Adoption of Superalloys
5.5 Impact of Drivers and Restraints:
6. FERROALLOYS MARKET - MIDDLE EAST & AFRICA ANALYSIS
6.1 Middle East & Africa Ferroalloys Market Overview
6.2 Ferroalloys Market Volume (Thousand Tons), 2020-2031
6.3 Ferroalloys Market Volume Forecast and Analysis (Thousand Tons)
6.4 Ferroalloys Market Revenue (US$ Billion), 2020-2031
6.5 Ferroalloys Market Forecast and Analysis
7. MIDDLE EAST & AFRICA 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. MIDDLE EAST & AFRICA 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. MIDDLE EAST & AFRICA FERROALLOYS MARKET - COUNTRY ANALYSIS
9.1 Middle East & Africa Market Overview
9.1.1 Middle East & Africa Ferroalloys Market Breakdown, by Key Countries, 2023 and 2031 (%)
9.1.1.1 Middle East & Africa Ferroalloys Market Volume and Forecast and Analysis - by Country
9.1.1.2 Middle East & Africa Ferroalloys Market Revenue and Forecast and Analysis -by Country
9.1.1.3 South Africa Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.3.1 South Africa Ferroalloys Market Breakdown by Type
9.1.1.3.2 South Africa Ferroalloys Market Breakdown by Application
9.1.1.4 Saudi Arabia Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.4.1 Saudi Arabia Ferroalloys Market Breakdown by Type
9.1.1.4.2 Saudi Arabia Ferroalloys Market Breakdown by Application
9.1.1.5 United Arab Emirates Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.5.1 United Arab Emirates Ferroalloys Market Breakdown by Type
9.1.1.5.2 United Arab Emirates Ferroalloys Market Breakdown by Application
9.1.1.6 Rest of Middle East & Africa Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.6.1 Rest of Middle East & Africa Ferroalloys Market Breakdown by Type
9.1.1.6.2 Rest of Middle East & Africa Ferroalloys Market Breakdown by Application
10. COMPETITIVE LANDSCAPE
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. INDUSTRY LANDSCAPE
11.1 Overview
11.2 Mergers and Acquisitions
11.3 Expansion
11.4 Partnerships and Collaborations
12. COMPANY PROFILES
12.1 Glencore Plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Samancor Chrome
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Tata Steel Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Brahm Group
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Nava Limited
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. APPENDIX
13.1 About The Insight Partners
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. MIDDLE EAST & AFRICA 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
5. MIDDLE EAST & AFRICA FERROALLOYS MARKET - KEY MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Demand for Ferroalloys in Automotive Industry
5.1.2 Rise in Infrastructure Development Investments by Government Bodies
5.2 Market Restraints
5.2.1 Fluctuations in Raw Material Prices
5.3 Market Opportunities
5.3.1 Growth in Global Aerospace & Defense Industry
5.4 Future Trends
5.4.1 Growing Adoption of Superalloys
5.5 Impact of Drivers and Restraints:
6. FERROALLOYS MARKET - MIDDLE EAST & AFRICA ANALYSIS
6.1 Middle East & Africa Ferroalloys Market Overview
6.2 Ferroalloys Market Volume (Thousand Tons), 2020-2031
6.3 Ferroalloys Market Volume Forecast and Analysis (Thousand Tons)
6.4 Ferroalloys Market Revenue (US$ Billion), 2020-2031
6.5 Ferroalloys Market Forecast and Analysis
7. MIDDLE EAST & AFRICA 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. MIDDLE EAST & AFRICA 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. MIDDLE EAST & AFRICA FERROALLOYS MARKET - COUNTRY ANALYSIS
9.1 Middle East & Africa Market Overview
9.1.1 Middle East & Africa Ferroalloys Market Breakdown, by Key Countries, 2023 and 2031 (%)
9.1.1.1 Middle East & Africa Ferroalloys Market Volume and Forecast and Analysis - by Country
9.1.1.2 Middle East & Africa Ferroalloys Market Revenue and Forecast and Analysis -by Country
9.1.1.3 South Africa Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.3.1 South Africa Ferroalloys Market Breakdown by Type
9.1.1.3.2 South Africa Ferroalloys Market Breakdown by Application
9.1.1.4 Saudi Arabia Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.4.1 Saudi Arabia Ferroalloys Market Breakdown by Type
9.1.1.4.2 Saudi Arabia Ferroalloys Market Breakdown by Application
9.1.1.5 United Arab Emirates Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.5.1 United Arab Emirates Ferroalloys Market Breakdown by Type
9.1.1.5.2 United Arab Emirates Ferroalloys Market Breakdown by Application
9.1.1.6 Rest of Middle East & Africa Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.6.1 Rest of Middle East & Africa Ferroalloys Market Breakdown by Type
9.1.1.6.2 Rest of Middle East & Africa Ferroalloys Market Breakdown by Application
10. COMPETITIVE LANDSCAPE
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. INDUSTRY LANDSCAPE
11.1 Overview
11.2 Mergers and Acquisitions
11.3 Expansion
11.4 Partnerships and Collaborations
12. COMPANY PROFILES
12.1 Glencore Plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Samancor Chrome
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Tata Steel Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Brahm Group
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Nava Limited
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. APPENDIX
13.1 About The Insight Partners
