Ferro Silicon Market to reach USD 15.97 Billion by 2032, Says Global Market Insights Inc.
Ferro Silicon Industry size is predicted to register 2.4% CAGR between 2024 and 2032 driven by increasing demand for high-quality steel.
Selbyville, Delaware , Sept. 02, 2024 (GLOBE NEWSWIRE) — Ferro Silicon Market is set to reach USD 15.97 billion by 2032, according to the
Europe to Lead Market Growth
Europe ferro silicon market will register a notable CAGR from 2024 to 2032, driven by the region’s well-established steel and automotive industries. Countries like Germany, France, and Italy lead the demand for ferro silicon due to their strong manufacturing bases and focus on innovation in metal production technologies. Additionally, Europe’s emphasis on sustainability and energy efficiency in industrial processes is expected to drive the adoption of ferro silicon as a crucial additive in steel production. The region’s leadership in ferro silicon consumption underscores its pivotal role in the global metal manufacturing landscape.
Ferro Silicon Market Players
The ferro silicon industry including Jiangsu Delong Nickel Industry Co., Ltd., Ferro Alloys Corporation Limited, Tata Steel Limited, Sheng Yan Group, Erdos Xijin Kuangye Co., Ltd., Elkem ASA, Sinosteel Jilin Ferroalloy Corporation Limited, Anyang Wanhua Metal Material Co., Ltd., OM Holdings Ltd., Jinzhou Ferro Alloy Co., Ltd., Fengzhen Fengyu Company Limited, Khumani Ferroalloyss Private Limited, Ferroglobe PLC, OFZ, a.s., and Ferroatlantica Group.
These companies invest in research and development to introduce high-quality ferro silicon products that meet the evolving needs of the steel and foundry industries. Collaborations with steel manufacturers and foundries enhance their market penetration, ensuring access to new opportunities in both developed and emerging markets.
In August 2024, SIMPAC Inc., a South Korean ferroalloy producer, announced its plan to establish a joint venture with Brazilian silicon alloy manufacturer RIMA Industrial SA to produce ferrosilicon.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
CONTACT: Aashit Tiwari Corporate Sales, USA Global Market Insights Inc. Toll Free: +1-888-689-0688 USA: +1-302-846-7766 Europe: +44-742-759-8484 APAC: +65-3129-7718 Email: [email protected]
