Ferroalloys are alloys of iron
which comprises multiple chemical elements coupled with molten metal and
usually used in steelmaking. Ferroalloy industry is closely linked with iron
and steel industry accounting for a large number of products for consumption.
Silicon is basically used in deoxidation in steel and an alloying element in
cast iron. Driving factors responsible
for the growth of ferroalloys (Silicon manganese) market includes prosperity in
building and construction industry in emerging economies. Also, the development
of lightweight and demand for high strength steel adds to the growth of the
market. Global Ferroalloys (Silicon manganese) Market is expected to gain a positive CAGR growth in the forthcoming period.
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The key players in the ferroalloys (Silicon manganese) market:
• PJSC Nikopol
• Erdos Group
• Sheng Yan Group
• Other
Based on segmentation by
application, the ferroalloys (Silicon manganese) market includes deoxidizer and
alloying element additive. Based on segmentation by medium, the ferroalloys
(Silicon manganese) market includes high carbon, medium carbon and low carbon.
Based on segmentation by type, the ferroalloys (Silicon manganese) market
includes bulk ferroalloys and noble ferroalloys. Bulk ferroalloys is further
segmented into ferromanganese, ferrochromium, ferro-silico-manganese,
ferro-silico-chromium
Geographically, ferroalloys
(Silicon manganese) market spans North America, Latin America, Europe,
Asia-Pacific, Middle-East and Africa. Asia-Pacific market accounted for overall
demand in ferroalloys market. Europe market is also expected to gain a positive
traction in the near future witnessing a moderate growth owing to slow pace of
economy and recession. MEA regions are even expected to gain positive CAGR
growth owing to rise in production of ferroalloys and rise in exports.
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