A recent report published by Infinium Global Research on
silicon alloy market provides an in-depth analysis of segments and sub-segments in
the global as well as regional silicon alloy market. The study also highlights
the impact of drivers, restraints, and macro indicators on the global and
regional silicon alloy market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of
global silicon alloy market. According to the report, the global silicon alloy
market is projected to grow at a healthy CAGR over the forecast period of
2019-2025.
As an alloying element, silicon is used to increase the
elasticity and the tensile yield as well as annealing resistance for different
steel qualities. Ferrosilicon alloy, a silicon alloy is used extensively in the
automotive and industrial sector. They are mainly used in the manufacturing of
steel and cast iron.
The growing demand for steel in several end-use industries
such as automotive, construction, shipbuilding, and several other industrial
sectors is one of the major drivers for the silicon alloy market. In addition,
the growing automotive sales all over the globe are primarily anticipated to
drive the growth of the silicon alloy market. Steel and cast iron an important
constituent for the production of automotive vehicles. Steel is the primary material
in body and chassis structures. It is the backbone of the entire vehicle. In
cars, steel makes up about 65% of the weight. The growing disposable income
and favorable financial policies are increasing automotive sales and increasing
the demand for the basic raw material among automotive manufacturers.
Furthermore, the use of silicon alloy in the manufacturing of industrial
equipment’s and in construction favors the growth of the market. However, due
to the growing demand for fuel-efficient vehicles, automotive manufacturers are
reducing the weight of the vehicle that reduces the amount of steel used in the
automotive industry. This is likely to affect the growth of the silicon alloy
market in the near future. However, growing applications of silicon alloys is
expected to create favorable growth opportunities for the market.
Among the geographies, Asia-Pacific holds the dominant share
in the global silicon alloy market. About 8 million metric tonnes of
ferrosilicon, a type of silicon alloy is produced each year globally, with
China accounting for about 70 percent of this total. Furthermore, the presence
of large producers of ferrosilicon such as Erdos Metallurgy Group, Ningxia
Rongsheng Ferroalloy, Group OM Materials, and Elkem in China are favoring the
growth of the silicon alloy market. Furthermore, the growing steel industry in
India is also anticipated to drive the growth of the Asia-Pacific silicon alloy
market.
The report on global silicon alloy market covers segments
such as type and application. On the basis of type, the sub-markets include
ferrosilicon, aluminium-silicon alloy, and other types. On the basis of
application, the sub-markets include carbon steel & other alloy steel,
stainless steel, electrical steel, cast iron, and other application.
The report provides profiles of the companies in the market
such as Jindal Stainless Limited., American Elements Corp, ArcelorMittal S.A.,
Dragon Northwest Ferroalloy Co., Ltd., RFA International, LP, OM Holdings
Limited, Elkem ASA, Ferroglobe PLC, Tata Steel Limited, Metal & Alloys
Corporation, and Other Companies.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of silicon alloy
market. Moreover, the study highlights current market trends and provides
forecast from 2019-2025. We also have highlighted future trends in the market
that will affect the demand during the forecast period. Moreover, the
competitive analysis given in each regional market brings an insight into the
market share of the leading players.
Please Choose One of them.