Ferroalloys Market Size, Share, Growth, Trends, Company Analysis, Regional Insights and Forecast 2020 - 2027

The global ferroalloys market size is expected to reach over USD 68 billion by 2027 and expanding at a CAGR of 5.5% over the forecast period 2020 to 2027.

The increasing steel production around the globe is the prominent factor driving market growth. Ferroalloys impart special characteristics to steel, such as improved hardness, resistance to corrosion, higher abrasion resistance, enhanced tensile strength at extreme temperatures, and significant creep strength. Therefore they represent significant raw materials to the iron and steel industry. China emerged as the leading player in the global market in 2019. China produced approximately 53% of the global crude steel in 2019, according to the World Steel Association. As a result, there is a massive demand for ferroalloys in China. The emergence of the COVID-19 pandemic is likely to significantly affect the steel output in China, which, in turn, is expected to hamper the ferroalloys market in 2020. However, the quick economic recovery of the country since March 2020 is expected to soften the impact to some extent.

Product Insights

Ferrochrome (FeCr) led the market and accounted for more than a 37% share of the global revenue in 2019 and will retain the leading position throughout the forecast years. The product is a primary raw material for stainless steel manufacturing, as it imparts aesthetic appearance and corrosion resistance to it. However, in terms of volume, Ferro Silicomanganese (FeSiMn) was the dominant segment in 2020. The segment is also estimated to record the fastest CAGR from 2020 to 2027, in terms of volume as well as revenue.

The product acts as deoxidizing and desulfurizing agents in steelmaking to increase its hardenability. The rising metal production combined with increased consumption of FeSiMn per ton of metal is predicted to drive the segment growth further. Ferrosilicon is added to steel to improve oxidation, temperature resistance, hardenability and to promote solid-solution strengthening. Heat-treatable, ultrahigh-strength, electrical, and automotive engine steels were the primary applications of ferrosilicon.

Application Insights

The carbon & low alloy segment led the market and accounted for more than 46% share of the global revenue in 2020. The segment will expand further at a steady CAGR over the forecast period retaining its dominant position. There is a significant demand for carbon steel from the global construction industry. Rapid urbanization leading to increasing infrastructure investments, especially in the developing economies, is likely to contribute to the segment growth over the coming years.

Cast iron is poised to witness the fastest CAGR of 7%, in terms of revenue, from 2020 to 2027. The ferroalloys that are extensively used for the production of cast iron include ferrosilicon and ferromanganese. Increasing demand for iron casting from the construction, automotive, and energy sectors is likely to fuel the segment growth in the coming years.

Stainless steel is predicted to witness considerable growth during the forecast period. As per the ISSF, the global stainless steel production was 35,917 kilotons in 2012 and reached 52,218 kilotons in 2019, with a CAGR of 5.5% from 2013 to 2019. This growth played a major role in driving the demand for ferrochrome over the respective period.

Regional Insights

Asia Pacific led the market and accounted for more than 76% share of the global volume in 2019. This dominance can be credited to the large steel production in the region. In 2020, Asia Pacific produced 72% and 73% of global carbon and stainless steel respectively. The relatively quicker recovery of China following the downturn due to the COVID-19 pandemic is likely to benefit the ferroalloys demand.

Southeast Asia is yet another attractive market. ASEAN-5, which comprises Indonesia, Malaysia, the Philippines, Vietnam, and Thailand, are also likely to witness attractive growth over the coming years. As per the International Monetary Fund (IMF), ASEAN-5 countries have a huge economic growth potential, which is likely to drive the product demand over the coming years.

Although the market size was substantially smaller when compared to the Asia Pacific, owing to the relatively smaller steel industry, Europe represented the second-largest market in 2019. The steel production in Europe has witnessed sluggish growth since the past few years due to slower economic growth and political uncertainties associated with Brexit. The future growth is likely to be more severely affected amidst the slowdown caused by the COVID-19 pandemic with Europe expected to witness the largest GDP contraction in 2020.

North America was the third-largest market in 2019. The region is expected to witness a steady growth following the economic recovery in 2021 after witnessing a sharp decline in 2020. Increasing emphasis on domestic production and favorable prices are the crucial factors that are likely to contribute to the regional demand over the coming years.

The Ferroalloys market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Ferroalloys market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Ferroalloys market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ferroalloys market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ferroalloys market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Ferroalloys capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Ferroalloys by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ferroalloys market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ferroalloys market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ferroalloys market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Ferroalloys industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Ferroalloys market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ferroalloys market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ferroalloys market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ferroalloys market. These factors have benefited the growth of the global market for Ferroalloys. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ferroalloys. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

Key Players

Some of the prominent players in the ferroalloys market include:

  • Jindal Group

  • Glencore

  • Samancore Chrome

  • Shanghai Shenjia Ferroalloys Co. Ltd

  • Ferro Alloys Corporation Limited.

  • S.C. Feral S.R.L

  • Tata Steel Limited - Ferro Alloys & Minerals Division

  • Arcelor Mittal

  • China Minmetals

  • SAIL


  • Product Outlook

    • Ferrochrome

    • Ferromanganese

    • Ferro Silicomanganese

    • Ferrosilicon

  • Application Outlook

    • Carbon & Low Alloy Steel

    • Stainless Steel

    • Alloy Steel

    • Cast Iron

    • Others

  • Regional Outlook

    • North America

      • The U.S.

    • Europe

      • Germany

      • The U.K.

      • France

    • Asia Pacific

      • China

      • India

      • Japan

    • Central & South America

      • Brazil

    • Middle East & Africa

In this study, the years considered to estimate the market size of Ferroalloys are as follows:

  • History Year: 2016-2019
  • Base Year: 2019
  • Estimated Year: 2020
  • Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2016-2019) and forecast (2020-2027);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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