Future Market Insights has announced the addition of the “Ferro Aluminum Market to Register Steady Growth During 2015 - 2025" report to their offering.
Valley Cottage, NY -- (SBWIRE) -- 01/09/2018 -- Ferro aluminum is an alloy that belongs to the category of ferroalloys. Ferro aluminum is produced by combining iron with aluminum. The manufacturing process of ferro aluminum is highly energy intensive in nature. Ferro aluminum requires large amount of electricity during its manufacturing process. Ferro aluminum manufacturing process involves production of aluminum from synthetic cryolite or bauxite. The processed aluminum is then further transformed into aluminum oxide by using Bayer's process through electrolysis. The resulting aluminum oxide is then mixed with iron oxide at extremely high temperature. Ferro aluminum is further purified to make it available in several grades. Though ferroalloy contains about65% of aluminum alloy, it exhibits the properties of about 40% alloy in terms of density. Pure ferro aluminum usually contains aluminum at the range of 30% and 75%. Ferro aluminum is usually supplied in granular, powder or in pieces of different sizes. Ferro aluminum is primarily used as a de-oxidation agent for steel manufacturing process. Ferro aluminum is also used for moulding applications in combination with carbon steel and carbon steel. Ferro aluminum is stable at room temperature however; it burns at extremely intense exothermic reactions.
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Applications of ferro aluminum differ with the aluminum content in the alloy. Ferro aluminum is widely used as a major deoxidizing agent. Ferro aluminum is also used to manufacture welding electrodes. Ferro aluminum is also used to manufacture cutting tools. Ferro aluminum being hard and tensile strength in nature is expected to boost the demand for ferro aluminum in the near future. Ferro aluminum is widely used in manufacturing railway tracks. Ferro aluminum is also used in manufacturing several automotive components. Thus, growing demand for automobile industry is expected to boost the overall growth of the ferro aluminum market. Ferro aluminum is also used in manufacturing various pyrotechnic initiators such as fireworks. Ferro aluminum is also used in major cutting tools industry. Thus, the growing demand for hard tools and equipments industry is expected to augment the overall growth of the ferro aluminum industry. However, the high operational cost coupled with stringent environmental regulations is expected to hamper the overall growth of the market. Ferro aluminum manufacturers are expected to comply with stringent carbon emission limits. In ability of many manufacturers to comply with these regulations has led to the shutdown of their manufacturing units of the small scale manufacturers.
Ferro aluminum is widely produced and consumed in the China. Thus, the growing demand for ferro aluminum from various end-use and secondary process industry is expected to boost the demand in the in the near future. Easy availability of raw material coupled with cheap labor is expected to boost the overall demand as well as production of ferro aluminum market. Asia Pacific is the largest consumer of ferro aluminum. The demand for ferro aluminum is expected to grow rapidly in Europe owing to the presence of large automobile industry in the region. North America is expected to experience sluggish growth in the demand for ferro aluminum market.
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AMG Advanced Metallurgical Group, Tremond Metals Corp., Core Metals Group, Gulf Chemical and Metallurgical Corporation, Bear Metallurgical Company and Hickman, Williams & Companies are some of the major participants of ferro aluminum market. The companies are mainly focused towards increasing their production capacities in order to achieve economies of scale and thus, in turn achieve competitive advantage. The companies mainly strive to capture larger market share in the market. This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.