Ferroalloys Market Analysis

Abundance (Bulk, Noble)

The global ferroalloys market is segmented and analyzed for demand and supply by abundance into bulk and noble ferroalloys. Out of these, the bulk ferroalloys segment is projected to hold most of the market share in 2037. This can be attributed to the rising and steady demand for steel across the world for various industries. For instance, the world production of bulk ferroalloys increased from 4,12,00,000 metric tons in 2018 to 4,47,00,000 metric tons in 2019.

End-user (Carbon & Low Alloy Steel, Stainless Steel, Alloy Steel, Cast Iron) 

The global ferroalloys market is also segmented and analyzed for demand and supply by end-use into carbon & low alloy steel, stainless steel, alloy steel, cast iron, and others. Out of these segments, the stainless steel segment is expected to garner the highest share of the market, closely followed by carbon & low alloy steel. This can be owed to the fact that the chromium that provides stainless steel its ability to resist corrosion is added using ferrochromium. Numerous sectors, including constructions, automotive, and consumer products, frequently employ stainless steel. For instance, in the Asia Pacific Region, it is projected that steel consumption will increase by 1% in 2023.

Our in-depth analysis of the global market includes the following segments: