India Ferrosilicon Market Size & Outlook, 2021-2030
India ferrosilicon market, 2017-2030 (US$M)
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India ferrosilicon market highlights
- The India ferrosilicon market generated a revenue of USD 642.5 million in 2021 and is expected to reach USD 868.1 million by 2030.
- The India market is expected to grow at a CAGR of 3.4% from 2022 to 2030.
- In terms of segment, deoxidizer was the largest revenue generating application in 2021.
- Inoculants is the most lucrative application segment registering the fastest growth during the forecast period.
Ferrosilicon market data book summary
| Market revenue in 2021 | USD 642.5 million |
| Market revenue in 2030 | USD 868.1 million |
| Growth rate | 3.4% (CAGR from 2021 to 2030) |
| Largest segment | Deoxidizer |
| Fastest growing segment | Inoculants |
| Historical data | 2017 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 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, India accounted for 5.8% of the global ferrosilicon market in 2021.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China ferrosilicon market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 868.1 million by 2030.
Deoxidizer was the largest segment with a revenue share of 70.54% in 2021. Horizon Databook has segmented the India ferrosilicon market based on deoxidizer, inoculants, other applications covering the revenue growth of each sub-segment from 2017 to 2030.
The Indian iron and steel industry is over 100 years old. The economic and industrial modernization of the country has resulted in a sharp growth of the steel industry, which, in turn, is expected to have a positive impact on the market growth over the forecast period.
Increasing demand for steel in sectors including automotive, infrastructure, and heavy equipment manufacturing is expected to drive product demand over the projected period. The steel sector in the country accounts for about 2% of the GDP and employees over 600,000 people in the country.
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Ferrosilicon Market Scope
Ferrosilicon Market Companies
| Name | Profile | # Employees | HQ | Website |
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India ferrosilicon market size, by application, 2017-2030 (US$M)
India Ferrosilicon Market Outlook Share, 2021 & 2030 (US$M)
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