Transparency Market
Research has released a new report titled "Ferroalloy
(Ferrochrome, Ferromanganese, Ferrosilicon and Others) Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast,
2014 - 2020." According to the report, the global ferroalloy
market was valued at USD 37.25 billion in 2013 and is anticipated to
reach USD 53.56 billion in 2020, expanding at a CAGR of 5.4% between
2014 and 2020.
Ferroalloy is one of
the major raw materials used in the manufacture of steel. Ferroalloys
impart distinctive qualities to steel and cast iron. Ferroalloy is
widely used as deoxidizing, desulfurizing and reinforcing agents.
This helps in the removal of sulfur, phosphorus and oxygen impurities
that are present in iron ores and this iron ores are used in the
manufacture of steel. Thus, growth in the steel industry is estimated
to boost the overall ferroalloy market. Furthermore, growth in the
construction industry, especially in BRICS countries, is likely to
increase the demand for steel. This, in turn, is projected to drive
the overall growth of the ferroalloy market. However, high
operational cost coupled with stringent environmental regulations is
expected to hamper growth of the ferroalloy market in the near
future. Development of lightweight, high tensile strength steel is
anticipated to boost demand for steel, especially in the automobile
industry. This is further estimated to augment growth of the
ferroalloy market.
Browse the full
Global Ferroalloy Market Report at
http://www.transparencymarketresearch.com/ferroalloy-market.html
Ferromanganese is
one of the ferroalloy that is produced as well as consumed on a
large-scale. In terms of volume, it accounted for over 37% share of
the overall ferroalloy market in 2013. With over two-third share of
total consumption in 2013, stainless steel industry was the major
application segment of the ferroalloy market. Ferrochrome provides
corrosion resistance to stainless steel. Demand for ferrochrome is
rising due to increasing demand for anticorrosive steel from the
automobile industry. Ferrosilicon is primarily used as a deoxidizing
and alloying agent in the steel manufacturing process.
China emerged as the
leading consumer of ferroalloy in 2013. Presence of large number of
steel manufacturers with high production capacities is expected to
boost demand for ferroalloy in China. In terms of volume, China is
anticipated to grow at a CAGR of 4.6% between 2014 and 2020. China
was followed by Europe, which is estimated to be the next major
consumer of ferroalloy due to increasing demand for steel from the
automobile industry. Rest of Asia Pacific is projected to be one of
the emerging markets for ferroalloys owing to rising demand for steel
from the construction industry, especially in India and Japan. North
America and Rest of the World are likely to experience sluggish
growth during the forecast period.
The global
ferroalloy market is highly fragmented in nature. Major players in
the ferroalloy market include Eurasian Natural Resources Corporation
PLC (ENRC), Sinosteel Jilin Ferroalloy Corporation Limited, S.C.
Feral S.R.L. and Shanghai Shenjia Ferroalloys Co. Ltd. Entry of new
players, especially in Rest of Asia Pacific, is likely to boost the
overall market growth.
This report segments
the global ferroalloy market as follows:
Ferroalloy Market -
Product Segment Analysis
Ferrochrome
Ferromanganese
Ferrosilicon
Others
(Ferrotungsten, ferronickel, ferroboron, etc)
Ferroalloy Market -
Regional Analysis
North America
Europe
China
Rest of Asia Pacific
Rest of the World
Browse All Metals
And Minerals Market Research Reports @
http://www.transparencymarketresearch.com/metals-and-minerals-market-reports-20.html
About Us
Transparency Market
Research (TMR) is a market intelligence company, providing global
business information reports and services. Our exclusive blend of
quantitative forecasting and trends analysis provides forward-looking
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and various tools and techniques to gather and analyze information.
Our data repository
is continuously updated and revised by a team of research experts, so
that it always reflects the latest trends and information. With a
broad research and analysis capability, Transparency Market Research
employs rigorous primary and secondary research techniques in
developing distinctive data sets and research material for business
reports.
Browse Press Release
of Ferroalloy Market at @
http://www.transparencymarketresearch.com/pressrelease/ferroalloy-market.htm
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