Ferrosilicon Market Analysis

Application (Deoxidizers, Inoculants)

The global ferrosilicon market is segmented and analyzed for demand and supply by application into deoxidizers and inoculants. Out of these, the deoxidizer 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 as well as the use of ferrosilicon as a deoxidizer in the steel industry. For instance, on a silicon-content basis, ferrosilicon accounted for nearly 70% of global silicon production in 2021. Steel is deoxidized with ferrosilicon in the last stage of production to increase the elasticity and strength of steel. Moreover, ferrosilicon is obtained from electric furnace smelting, and qualified steel is obtained by treating steel with ferrosilicon. Ferrosilicon is used in steel manufacturing in the diffusion and sedimentation processes of steel.

End-user (Stainless Steel, Cast Iron, Electric Steel) 

The global ferrosilicon market is also segmented and analyzed for demand and supply by end-user into stainless steel, cast iron, and electric steel. Amongst these three segments, the stainless-steel segment is expected to garner a significant share. Stainless steel is less prone to dusting, corrosion, or staining, even after exposure to water. Stainless steel does not conduct electricity through it. It is used in many household appliances as it is recyclable and easy to sterilize and use. It is used in culinary, kitchen sinks, cutlery, and cookware manufacturing. Also, it is utilized in products including medical instruments such as surgical tools medical equipment, surgical plants for temporary crowns in the dental sector, and hemostasis. Additionally, architectural buildings, bridges, sculptures, and monuments are built using stainless steel tools. In the construction of airport roofs, automotive, aerospace, rail cars, and aircraft are built with stainless steel materials. All these applications increase the market segment’s growth, which in turn rises the market’s growth in the coming years.

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