Global Ferroalloys (Silicon manganese)
Market is expected to gain a positive CAGR growth in the forthcoming
period. Ferroalloys are alloys of iron which comprises multiple chemical
elements coupled with molten metal and usually used in steelmaking. Ferroalloy
industry is closely linked with iron and steel industry accounting for a large
number of products for consumption. Silicon is basically used in deoxidation in
steel and an alloying element in cast iron.
Driving factors responsible for the growth of ferroalloys (Silicon
manganese) market includes prosperity in building and construction industry in
emerging economies. Also, the development of lightweight and demand for high
strength steel adds to the growth of the market. However, the deteriorating
rate of consumption resulting out of steel production is prolonged. Also,
factors such as availability, technology and decline in per unit consumption
hinders the market growth.
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Based on segmentation by application, the ferroalloys
(Silicon manganese) market includes deoxidizer and alloying element additive.
Based on segmentation by medium, the ferroalloys (Silicon manganese) market
includes high carbon, medium carbon and low carbon. Based on segmentation by
type, the ferroalloys (Silicon manganese) market includes bulk ferroalloys and
noble ferroalloys. Bulk ferroalloys is further segmented into ferromanganese,
ferrochromium, ferro-silico-manganese, ferro-silico-chromium
Geographically, ferroalloys (Silicon manganese) market
spans North America, Latin America, Europe, Asia-Pacific, Middle-East and
Africa. Asia-Pacific market accounted for overall demand in ferroalloys market.
Europe market is also expected to gain a positive traction in the near future
witnessing a moderate growth owing to slow pace of economy and recession. MEA
regions are even expected to gain positive CAGR growth owing to rise in
production of ferroalloys and rise in exports.
The key players in the ferroalloys (Silicon manganese) market include
CITIC Jinzhou Metal, ArcelorMittal, Tata Steel, Sakura Ferroalloys, BAFA
Bahrain, OM Holdings Ltd, Pertama Ferroalloys, Yiwang Ferroalloy, Erdos,
Tianjin Jinsheng, Sanhuan, Glencore, SAIL, Nikopol and Zaporozhye.
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