Global Market Insights, Inc. has launched a report on Ferroalloy Market that elucidates an in-depth synopsis of this business vertical over the forecast period. The report is inclusive of the prominent industry drivers and provides an accurate analysis of the key growth trends and market outlook in the years to come in addition to the competitive hierarchy of this sphere.
Ferroalloy Market Size will surpass USD 70 billion by 2025; according to a new research report. Rising population and legislative decisions to boost infrastructure sector of developing economies increases steel consumption. This acts as a significant factor driving ferroalloy market in positive direction. Abundant presence of iron ore all-round the globe with increasing demand for steels in the industrial sector due to unavailability of substitutes will catapult the ferroalloy market in coming years.
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Construction industry in Latin America and Middle East region is booming due to increase in spending done by governments for infrastructure projects. These steps are taken in order to revive economies and give them positive direction towards growth. Countries in these regions have hosted several international sports events or are going to host in near future. These trends have augmented demand for various grades of steel, in turn propelling the growth of overall ferroalloy market in near future.
Product segmentation: The report claims that the Product landscape of the Ferroalloy Market is subdivided into –
- Carbon Steel
- Alloy Steel
- Stainless Steel
Important pointers encompassed pertaining to the Product spectrum:
- Major details about the Product spectrum are provided in the report.
- The study elaborates on the remuneration forecast of each of the Product categories by the end of the anticipated duration.
- The market share which each of the Product segments account are mentioned in the study.
- Also, the most proliferating trends that the Product spectrum is characterized by are also entailed.
On the basis of revenue ferro chrome will account for around USD 23 billion in 2025 showing a decent growth rate throughout forecast time period. Ferro chrome is mainly used in production of stainless steel and tool steel, providing superior corrosion resistance properties. The product has end use in metallurgical industry, chemical industry, foundry & refractory industries. With growing construction sector of developing nations steel consumption is expected to increase thus, propelling demand for ferrochrome in near future.
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Global ferroalloy market, on the basis of application, is segmented into carbon steel, alloy steel, stainless steel & others. Among these, stainless steel will likely witness a CAGR of around 5.5% from 2018 to 2025. Stainless steel has application in architecture & construction, automotive & transportation, medical, energy & heavy industries, food & catering, etc. Increasing industrialization across the globe will further boost the demand for stainless steel.
On the basis of region Latin America will register about USD 5.5 billion by 2025, witnessing the highest growth rate in coming years. This is due to increasing FDI inflow in construction and other industrial sectors. Many countries of this region have formulated policies to attract private investors in order to revive their economies. Such trends will catapult steel consumption, thus driving the overall ferroalloy market growth over forecast time spell.
Regional segmentation: The report claims that the Regional landscape of the Ferroalloy Market is subdivided into –
- North America
- Asia Pacific
- Latin America
Important pointers encompassed pertaining to the Regional spectrum:
- The report encompasses major details about the Regional
- The target valuation that each of the sub-segments of the Regional landscape will procure by the end of the anticipate period are mentioned in the report.
- The market share that these sub-segments held are also entailed in the study.
- The global trends that define the Regional landscape are discussed in the report.
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Some of the major players in ferroalloy market are Jindal Group, Steel Authority of India Limited (SAIL), Gulf Ferroalloys Company, Tata Steel, Pertama, Shenjia Ferroalloys, Brahm Group, OM Holdings, Arcelor Mittal, Nikopol, China Minmetals Corporation.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.