The global silicon alloys market accounted for US$ XX Mn in 2018 and burgeoning over the forthcoming years. Key factors for the market growth include rapid industrialization and infrastructure development across various regions, rising sales of automobiles, increasing demand for aluminum-silicon alloys, expansion of the automotive industry and increase in purchasing power coupled with growing disposable income of the consumers. However, factors such as high cost of production and dependence on power & reductants are hampering the market growth.
Global silicon alloys market segmented on the basis of type, application and region.
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Ferrosilicon Dominate the Global Silicon Alloys Market
Based on type, global silicon alloys market segmented into ferrosilicon, deoxidizers, inoculants and others (including nodulizers). Ferrosilicon held considerable market share during forecast period. Ferrosilicon is a ferroalloy, an alloy of iron and silicon with an average silicon content between 15 and 90 weight percent. It contains a high proportion of iron silicides. Ferrosilicon is used for manufacture of silicon, corrosion-resistant and high-temperature resistant ferrous silicon alloys, and silicon steel for electromotors and transformer cores. In the manufacture of cast iron, ferrosilicon is used for inoculation of the iron to accelerate graphitization.
Asia Pacific Leads the Global Silicon Alloys market
PBI’s global silicon alloys market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. According to regional analysis. Asia Pacific accounted for larger revenue share in global silicon alloys market with considerable CAGR as the region is an industrial and automotive hub. Rising demand for portable electronics, automobiles and solar panels in the region are other factors responsible for the market growth. Also, China is the world’s largest producer and consumer of silicon alloy which makes it a major contributor for the market growth in this region.
Launch of newer products, frequent product approvals, patent filings, and strategic alliances are the key strategies adopted by market players
Global silicon alloys market further reveals that the key players increasingly adopting strategies such as launch of newer products, frequent product approvals, and long term alliance to improve market revenue share and gaining significant geographic presence across the region.
Key player’s profiles in the report are ArcelorMittal, DMS Powders, Dragon Northwest Ferroalloy, Elkem, Ferroglobe, Georgian American Alloys, Jilin Ferroalloys, JSL Limited, Kuwait United Chemalloys Manufacturing, Lalwani Ferro Alloys, OJSC Chelyabinsk Electrometallurgical Works, OM Holdings Ltd, Pioneer Carbide, Steelmin Limited and Tata Steel.
Precision Business Insights (PBI) in its report titled “Global Silicon Alloys Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2014-2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period. Moreover, the report also includes the total revenue and volume for the market.
o Others (including Nodulizers)
o Carbon Steel & Other Alloy Steel
o Stainless Steel
o Electrical Steel
o Cast Iron
o North America
• Rest of Europe
• Australia & New Zealand
• ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
• South Korea
• Rest of Asia-Pacific
o Latin America
• Rest of Latin America
o Middle East and Africa (MEA)
• Gulf Cooperation Council (GCC) Countries
• South Africa
• Rest of MEA
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