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.
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