Global Ferro Alloys Market (2021-2028) – Report to analyze its size, share and trends
DUBLIN, October 28, 2021– (BUSINESS WIRE)–The “Ferro Alloys Market Analysis Report, by Product (Ferrochrome, Ferro-Manganese), by Application (Carbon and Low Alloy Steel, Stainless Steel), by Region, and Segment Forecasts, 2021-2028” Report was added to ResearchAndMarkets.com to offer.
The global ferro-alloy market is projected to reach $ 73.9 billion by 2028. The market is expected to grow at a CAGR of 7.1% from 2021 to 2028.
Products such as ferrochrome are likely to be in high demand due to the increasing use of stainless steel in the construction sector.
Stainless steel facilitates the strength and support of the building structure due to its high durability. Corresponding supporting structures such as lintels, wind posts, wall starters and masonry are made of stainless steel when building a building. Primary stainless steel products used in the building and construction industries are plates, sheets and strips, and wires. In addition to its structural application, stainless steel gives the building an aesthetic appearance in order to create an appealing visual appearance.
The US construction industry is projected to climb at a CAGR of 5.0% through 2030. A significant improvement in infrastructure is expected to emerge as a key driver of US construction output growth. The European countries are also making progress in the construction industry. The UK is expected to become the largest construction market in Europe, overtaking Germany by 2030. Several UK government mega-projects are set to boost the country’s construction industry.
A decline in ferro alloy production in some regions such as North America is expected to have a critical impact on the expansion of the market. Factors such as higher environmental and labor costs, the relocation of production facilities to other countries, cheap imports and electricity costs have recently hampered North American ferro-alloy production.
Investments in ferro-alloy production facilities are expected to benefit market growth. In September 2020, the Indian company MOIL announced an investment of USD 57.0 million to build a ferro-alloy production facility at its sites. The project is expected to be built in Balaghat, Madhya Pradesh, India with an estimated output of 50,000 kilotons per year.
Ferro Alloys Market Report Highlights
In terms of volume and revenue, the Asia-Pacific region is expected to remain the fastest growing market over the forecast period. Market growth is expected due to the enormous steel production in countries such as China, India, Japan and South Korea.
China Baowu Group, Nippon Steel Corporation, HBIS Group, POSCO and Shagang Group were the leading steel producers in 2019, reporting production of 95.47, 51.68, 46.56, 43.12 and 41.10 respectively.
The Ferrochrome segment is expected to have a CAGR of 7.0% in terms of sales from 2021 to 2028. The increasing demand for stainless steel in industries such as automotive, construction, aerospace, and mechanical engineering is expected to drive growth in the segment.
The C and low-alloy steels segment dominated the application segment and had a share of sales of over 45.0% in 2020. The growth in this segment is shaped by the demand for sheet metal, pipes, railway lines and car bodies for building construction.
Key topics covered:
Chapter 1. Methodology and scope
Chapter 2. Summary
Chapter 3. Ferro Alloys Market Variables, Trends, and Scope
3.1. Global Ferro Alloys Market Outlook
3.1.1. Production and technology outlook
3.2. Penetration and growth perspective mapping
3.3. Analysis of the industry’s value chain
3.3.1. Production and technology outlook
3.4. Legal framework
3.5. Market dynamics
3.5.1. Market driver analysis
3.5.2. Analysis of market restrictions
3.5.3. Industry challenges
3.6. Porter’s Five Forces Analysis
Chapter 4. Ferro Alloys Market: Estimates and Forecasts for the Product Outlook
Chapter 5. Ferro Alloys Market: Estimates and Forecasts for Application Outlook
Chapter 6. Regional Forecasts and Forecasts for Ferro Alloy Market
Chapter 7. Competitive Analysis
7.1. Key players and recent developments and their impact on the industry
7.2. Company categorization (market leaders, emerging players, key innovators)
7.3. Provider landscape
7.3.1. List of raw material suppliers, dealers and other well-known manufacturers
7.3.2. List of ferro-alloy manufacturers
Chapter 8. Company Profiles
For more information on this report, see https://www.researchandmarkets.com/r/gokaey
View source version on businesswire.com: https://www.businesswire.com/news/home/20211028005769/de/
Laura Wood, Senior Press Manager
For EST office hours, call 1-917-300-0470
For US / CAN toll free call 1-800-526-8630
For GMT office hours, call + 353-1-416-8900. at