The ferrosilicon market is projected to reach USD 12.9 billion by 2028, at a CAGR of 3.4% from USD 10.9 billion in 2023. The market growth is driven by influencing factors such as robust demand for steel in automotive, construction, manufacturing industry, and growing focus on renewable energy to reduce carbon emissions.
The key global players in the ferrosilicon market include Elkem (Norway), RFA International (Switzerland), DMS Powders (South Africa), Ferroglobe (UK), Eurasian Resources Group (Luxembourg), Feng Erda Group (China), Finnfjord AS (Norway), Mechel PAO (Russia), Om Holdings Ltd (Singapore), Maithan Alloys Ltd (India) are the key players in the ferrosilicon market. These companies are strong in their home region and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions.
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Elkem is one of the leading companies, providing advanced silicon-based materials. The company has expertise in developing silicones, silicon products and carbon solutions by combining natural raw materials. The company operates through three business segments, namely silicones, silicon products, and carbon solutions. The company’s product line includes silicones, silicon-based materials, foundry alloys, carbon-based materials, and others. Elkem serves various markets, including mobility & transportation, healthcare, construction, science & chemicals, personal care & consumer goods, digital communication, energy & power, advanced manufacturing and industrial. The company has a global presence, operating in North America, South America, Europe, the Middle East & Africa, and Asia Pacific
RFA international is the world leader in the supply of ferrochrome, ferrosilicon, micro silica, and other ferroalloy products. The company serves a diverse clientele that includes prominent construction firms, specialty steel producers, stainless steel manufacturers, and foundries across the continents of Africa, Asia, Europe, the Middle East, and both North and South America. The company has a presence in all markets through branch offices and agency agreements.
Ferro Silicon Market by Type (Atomized Ferrosilicon, Milled ferrosilicon), Application (Deoxidizer, Inoculants), End-use Industry (Stainless Steel, Cast Iron, Magnesium), and Region (Asia Pacific, Europe, North America, MEA, SA) - Global Forecast to 2028
Mr. Aashish Mehra
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