Asia Pacific Ferrosilicon Market Size & Outlook, 2024-2030
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Asia Pacific ferrosilicon market highlights
- The Asia Pacific ferrosilicon market generated a revenue of USD 7,717.5 million in 2023.
- The market is expected to grow at a CAGR of 2.9% from 2024 to 2030.
- In terms of segment, deoxidizer was the largest revenue generating application in 2023.
- Inoculants is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 7,717.5 million |
| Market revenue in 2030 | USD 9,417.6 million |
| Growth rate | 2.9% (CAGR from 2024 to 2030) |
| Largest segment | Deoxidizer |
| Fastest growing segment | Inoculants |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Deoxidizer, Inoculants, Other Applications |
| Key market players worldwide | Elkem ASA Ordinary Shares, Eurasian Resources Group, Ferroglobe PLC, OM Holdings Ltd, Ferro-Alloy Resources Ltd Ordinary Shares, China Petroleum & Chemical Corp Class H |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 67.1% of the global ferrosilicon market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 9,417.6 million by 2030.
Deoxidizer was the largest segment with a revenue share of 70% in 2023. Horizon Databook has segmented the Asia Pacific ferrosilicon market based on deoxidizer, inoculants, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The country is the largest producer of steel in the world, which, in turn, makes it the largest ferrosilicon manufacturer. Furthermore, the growth of steel presence of other major steel manufacturing countries like Japan and India in the region is expected to drive demand over the forecast period.
Automotive and construction industries in the region, especially in countries such as India, are experiencing high growth, which is, in turn, expected to have a positive impact on steel and other metal manufacturing industries.
High demand for ferrosilicon owing to its properties like improving metal strength and surface by deoxidizing the metal is expected to have a positive impact on the industry growth over the forecast period.
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Ferrosilicon Market Scope
Ferrosilicon Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Ferro-Alloy Resources Ltd Ordinary Shares | View profile | 200 | Noble House, Les Baissieres, Saint Peter Port, Guernsey, GY1 2UE | https://www.ferro-alloy.com |
| Eurasian Resources Group | View profile | 10001+ | Luxembourg, Luxembourg, Luxembourg, Europe | https://www.eurasianresources.lu/ |
| China Petroleum & Chemical Corp Class H | View profile | 368450 | No. 22 Chaoyangmen North Street, Chaoyang District, Beijing, China, People's Republic of, 100728 | http://www.sinopec.com |
| Elkem ASA Ordinary Shares | View profile | 7436 | Drammensveien 169, Oslo, Norway, 0277 | https://www.elkem.com |
| OM Holdings Ltd | View profile | 1851 | 10 Eunos Road 8, No. 09 - 03A, Singapore Post Centre, Singapore, Singapore, 408600 | http://www.omholdingsltd.com |
| Ferroglobe PLC | View profile | 3403 | 13 Chesterfield Street, London, United Kingdom, W1J 5JN | https://www.ferroglobe.com |
Asia Pacific ferrosilicon market size, by country, 2018-2030 (US$M)
Asia Pacific Ferrosilicon Market Outlook Share, 2023 & 2030 (US$M)
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