Global Ferrosilicon Market Size & Outlook, 2021-2030
Global ferrosilicon market, 2017-2030 (US$M)
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Global ferrosilicon market highlights
- The global ferrosilicon market generated a revenue of USD 11,011.5 million in 2021 and is expected to reach USD 13,668.7 million by 2030.
- The market is expected to grow at a CAGR (2022 - 2030) of 2.4% by 2030.
- In terms of segment, deoxidizer accounted for a revenue of USD 7,641.9 million in 2021.
- Inoculants is the most lucrative application segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2021.
- Country-wise, Brazil is expected to register the highest CAGR from 2022 to 2030.
Global data book summary
| Market revenue in 2021 | USD 11,011.5 million |
| Market revenue in 2030 | USD 13,668.7 million |
| Growth rate | 2.4% (CAGR from 2021 to 2030) |
| Largest segment | Deoxidizer |
| Fastest growing segment | Inoculants |
| Historical data covered | 2017 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Deoxidizer, Inoculants, Other Applications |
Other key industry trends
- In terms of revenue, the North America accounted for 8.3% of the global ferrosilicon market in 2021.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, Brazil is the fastest growing regional market and is projected to reach USD 215.3 million by 2030.
Deoxidizer was the largest segment with a revenue share of 69.4% in 2021. Horizon Databook has segmented the Global ferrosilicon market based on deoxidizer, inoculants, other applications covering the revenue growth of each sub-segment from 2017 to 2030.
The global ferrosilicon market has witnessed growth in the past and is anticipated to register a steady growth during the forecast period. Ferrosilicon is widely used as an inoculant in the cast iron industry for manufacturing high strength and most ductile type cast iron. Growing demand for cast iron cookware and pipes are anticipated to propel the growth of the cast iron market, thereby augmenting the ferrosilicon demand.
The rise in the shift from non-stick cookware to those made up of cast iron with the growing concerns about potential health risks, is expected to augment the growth of the cast iron market. Cast iron cookware is free from chemicals and has several other advantages including even heat distribution and long-lasting viability.
Growing need for cast iron cookware is compelling its manufacturing companies to increase production. For instance, in October 2021, The Indus Valley, a direct-to-consumer cast iron kitchenware producer, raised USD 1.1 million from Rukam Capital, DSG Consumer Partners, and the Chennai Angels for increasing its production. It aims at delivering toxin-free kitchenware products.
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Ferrosilicon Market Scope
Ferrosilicon Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global ferrosilicon market size, by regions, 2017-2030 (US$M)
Top 10 countries: Ferrosilicon market size, 2021 (US$M)
Global ferrosilicon market share, by application, 2021 & 2030 (%, US$M)
Ferrosilicon market: Opportunity assessment by country
Global ferrosilicon market, by region, 2021 (US$M)
| Application | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 938.1 | 1,113.6 | 969.2 | 858.4 | 912.2 | 935.8 | 954.1 | 973.5 | 994.4 | 1,016.8 | 1,040.3 | 1,065.8 | 1,088.3 | 1,111.8 | 2.2% |
| Europe | 2,057.5 | 3,054.3 | 2,193.7 | 1,970.6 | 2,178.3 | 2,218.1 | 2,253.1 | 2,282.4 | 2,329.4 | 2,358.1 | 2,418.1 | 2,446.3 | 2,480.7 | 2,508.7 | 1.6% |
| Asia Pacific | 7,271.6 | 7,362.8 | 7,460.2 | 7,013.6 | 7,356.8 | 7,531.2 | 7,717.5 | 7,916.3 | 8,128.5 | 8,354.6 | 8,595.7 | 8,852.6 | 9,126.2 | 9,417.6 | 2.8% |
| Latin America | 284.1 | 287.5 | 291.0 | 251.4 | 263.6 | 265.5 | 267.7 | 270.1 | 272.9 | 276.0 | 279.3 | 283.0 | 287.0 | 291.4 | 1.1% |
| MEA | 305.0 | 454.6 | 319.0 | 279.4 | 300.7 | 304.1 | 308.1 | 312.4 | 317.1 | 322.1 | 327.7 | 333.6 | 336.4 | 339.2 | 1.4% |
| Overall | 10,856.4 | 12,272.8 | 11,233.1 | 10,373.4 | 11,011.6 | 11,254.7 | 11,500.5 | 11,754.8 | 12,042.2 | 12,327.6 | 12,661.1 | 12,981.3 | 13,318.5 | 13,668.8 | 2.4% |
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