The market for ferroalloys, worldwide, is projected to reach a valuation of US$188.7 bn by the end of 2025.
Albany, NY -- (SBWIRE) -- 10/04/2017 -- Ferroalloys are alloys of iron with a high percentage of one or more of other elements. It has been analyzed that majority of the ferroalloys are consumed in stainless steel and steel production around the globe. A new study finds that owing to the lack of a viable alternative that can meet the diverse applications, the future of the global ferroalloys market is healthy. To explore the current as well future trends in this market, Market Research Hub (MRH) has included this study to its massive online repository, which is titled as "Ferroalloys Market - Global Industry, Size, Share, Growth, Trends, and Forecast 2017-2025". The study analyzes the global market with an in-depth investigation of some of the major regions including North America, Asia-Pacific, Latin America, Europe and Middle East & Africa. For each regional segment, market size and forecast for 2016 to 2024 are carried out. Additionally, key industry developments in the recent and for the coming years are presented.
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Ferroalloys are broadly used for several end-use industries, particularly steel production, production of superalloys, wire production, and production of welding electrodes. Ferroalloys serves an important function in the overall process of steelmaking by enhancing the general properties of iron metal. Based on type, the global ferroalloys market has been segmented into two major categories, viz. bulk ferroalloys and noble ferroalloys. As per the study findings, the global ferroalloys market is all set to expand at an estimated CAGR of 5.9% during the forecast period of 2017 to 2025. Also, rising at this pace, the market for ferroalloys, worldwide, is projected to reach a valuation of US$188.7 bn through 2025.
The market overview section of the report covers qualitative analysis of the global ferroalloys market by considering factors expanding the market growth. Moreover, this section summarizes major market dynamics such as drivers, restraints and opportunities for coming years, along with Porter's five force analysis and market attractiveness analysis. In terms of geography, Asia Pacific accounted for 79.5% of the overall demand in the global ferroalloys market in 2017, which is expected to exhibit the best CAGR among all regions throughout the forecast period.
In the next section, the market for ferroalloys has been segregated on the basis of its type and applications. Some of the major applications of ferroalloys are steel production, superalloys production, production of welding electrodes and wires. These segments have been analyzed based on historic, current and future trends. As per the report, around 80% of the ferroalloys production is consumed for the steel production and rest of the produced ferroalloys are consumed into other major applications. It has been also examined that increasing steel demand in end-user industries including construction, automotive, ship building and other sectors will likely be a chief driver for the global ferroalloy market. The prosperity of the building and construction industry in a number of emerging economies is another key driver of the global ferroalloys market.
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Moreover, the report covers precise competitive view that includes market share and profiles of main players operating in the global market. Key players profiled in the report include Sakura Ferroalloys Sdn Bhd, Vale S.A., Arcelor Mittal, O.F.Z A.S., Tata Steel, Pertama Ferroalloys Sdn. Bhd, China Minmetal Ltd., and Ferroalloy Corporation Ltd.
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