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Ferro Alloys Market Insights:
The global ferro alloys market is progressing towards a positive direction and is anticipated to touch USD 59.4 billion at 5.1?GR over the forecast period (2016-2022). This market is witnessing a noteworthy growth due to the growing application of ferro alloys in various industries including metallurgy, cutlery, automobile bodies, road rails and others. Also called the alloy of iron metal, ferro alloys have one or above chemical additives that are added to molten iron to make steel. It serves a vital function in the steelmaking's overall process by improving the iron metal's general properties. Steel making is a key consumer of ferro alloys which consumes a major part of the complete ferroalloys that is produced across the world. The chief function of ferro alloy is in improving the resistance to oxidation, erosion, to other chemical reactions and also resistance to tensile especially in high temperature. The most common and primary using ferro alloys are created with silicon, manganese and chromium. Generally, ferro alloys possess lower melting range compared to the pure elements. In fact, it can be more readily incorporated in molten steel. It is added with liquid steel for attaining a definite chemical composition along with offering properties required for making specific products. Ferro alloys are used in almost every steel including tool, electrical, alloy, stainless, plain carbon and others.
There are various factors that is driving the growth of the ferro alloys market according to MRFR (Market Research Future) Report. These include growing need of steel in different industrial applications, stringent rules laid down by the government for pollution control, increased production of ferro alloys, recovering steel industry with new exporters offering affordable raw materials, modern technology in ferro alloys production and rising consumption of ferro alloys across the world. On the contrary, increasing fuel prices and high consumption of energy during production may hamper the ferro alloys market growth during the forecast period.
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Competitive Analysis:
According to the ferro alloys market forecast report, the market key players of the global markets are:
- Shanghai Ferroalloys Works (China),
- Georgian American Alloys (USA),
- Gulf Ferroalloys Company (SABAYEK) (Saudi Arabia),
- Ferroalloy Corporation Limited (India),
- China Minmetals Corporation (China),
- Pertama Ferroalloys Sdn. Bhd. (Malaysia),
- OM Holdings Ltd. (Singapore),
- Nikopol Ferroalloy Plant (Ukraine),
- AKURA FERROALLOYS (1036989-M). (Malaysia)
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Segmentation
As per MRFR report, the global ferro alloys market is segmented on the basis of types and application.
Based on types, it is segmented into ferrovanadium, ferrotungsten, ferrotitanium, ferrosilicon, ferronickel, ferromolybdenum, ferromanganese, ferrochromium and others. Of these, the ferromanganese segment will have the maximum share in the ferro alloys market.
Based on applications, the ferro alloys market is segmented into metallurgy, cutlery, automobile bodies, road rails and others.
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Regional Insights
Based on region, the ferro alloys market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, the APAC region will lead the ferro alloys market. China is the largest consumer and producer of ferro alloys that dominates this market segment. Rising demand from auto industries and rapid industrialization is expected to fuel the growth of the market. Besides, the growing demand for metallurgy, cutlery, automobile bodies, road rails in Japan, Australia and India has boosted the demand of this market. Europe holds the second largest share owing to the growing demand in different industrial applications which is followed by North America and Middle East. The ferro alloys market in the Rest of the World is poised to grow at a slow pace during the forecast period.
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Major Drivers Of The Market
During the forecast period, the automotive & transportation industries are predicted to drive the global market demand due to the increasing demand for ferro alloys among the global steel industries. The global ferro alloys market is driving its growth due to the increasing use in the production of automobile, automotive & transportation industries and advancement of the technology.
Hence, the global market is expected to boost the ferro alloys market growth due to its large applications in several end-use industries like healthcare, electronics, metallurgical, and oil& gas.
Significant Opportunities For The Market
The increase in demand for Ferro alloys products is considering bringing more growth opportunities for the ferro alloys market.
Furthermore, the global market has lucrative opportunities for the key players due to the advancement of lightweight steel grades and high strength. Along with that, the key players are working hard to enhance the demand for Ferro alloys products across various regions.
TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 List Of Assumptions
2.4 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
4 Market Dynamics Of The Global Ferro Alloys Market
4.1 Introduction
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Challenges
4.6 Trends/Technology
5 Market Factor Analysis Of The Global Ferro Alloys Market
5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.2 Manufacturers/Producers
5.1.3 Distributors/Retailers/Wholesalers/E-Commerce
5.1.4 End User
5.2 Porter's Five Forces Analysis
5.2.1 Threat Of New Entrants
5.2.2 Bargaining Power Of Buyers
5.2.3 Bargaining Power Of Suppliers
5.2.4 Threat Of Substitutes
5.2.5 Intensity Of Competitive Rivalry
6. Global Ferro Alloys Market, By Production
6.1 Introduction
6.2 Blast Furnace
6.2.1 Market Estimates & Forecast, 2020-2027
6.2.2 Market Estimates & Forecast, By Region, 2020-2027
6.3 Electric Arc Furnace
6.3.1 Market Estimates & Forecast, 2020-2027
6.3.2 Market Estimates & Forecast, By Region, 2020-2027
7. Global Ferro Alloys Market, By Production
7.1 Introduction
7.2 Bulk Ferro Alloys
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast, By Region, 2020-2027
7.2.3 Types
7.2.3.1 Ferro-Manganese
7.2.3.2 Silico-Manganese
7.2.3.3 Ferro-Silicon
7.2.3.4 Ferro-Chrome
7.2.4.1 Market Estimates & Forecast, 2020-2027
7.2.4.2 Market Estimates & Forecast, By Region, 2020-2027
7.3 Noble Ferro Alloys
7.3.1 Market Estimates & Forecast, 2020-2027
7.3.2 Market Estimates & Forecast, By Region, 2020-2027
7.3.3 Types
7.3.3.1 Ferro-Molybdenum
7.3.3.2 Ferro-Vanadium
7.3.3.3 Ferro-Tungsten
7.3.3.4 Ferro-Aluminum
7.3.3.5 Magnesium Ferro-Silicon
7.3.3.6 Ferro-Silicon-Zirconium
7.3.3.7 Ferro-Titanium
7.3.3.8 Ferro-Boron
7.3.3.9 Ferro-Niobium
7.2.1 Market Estimates & Forecast, 2020-2027
7.2.2 Market Estimates & Forecast, By Region, 2020-2027
8. Global Ferro Alloys Market, By End-Use Industry
8.1 Introduction
8.2 Steel
8.2.1 Market Estimates & Forecast, 2020-2027
8.2.2 Market Estimates & Forecast, By Region, 2020-2027
8.3 Construction
8.3.1 Market Estimates & Forecast, 2020-2027
8.3.2 Market Estimates & Forecast, By Region, 2020-2027
8.4 Automotive & Transportation
8.4.1 Market Estimates & Forecast, 2020-2027
8.4.2 Market Estimates & Forecast, By Region, 2020-2027
8.5 Electronics
8.5.1 Market Estimates & Forecast, 2020-2027
8.5.2 Market Estimates & Forecast, By Region, 2020-2027
8.6 Others
8.6.1 Market Estimates & Forecast, 2020-2027
8.6.2 Market Estimates & Forecast, By Region, 2020-2027
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