North America And EMEA Ferrosilicon Market Size, Share & Trends Analysis Report By Application (Carbon & Alloy Steel, Stainless Steel, Cast Iron), By Region (North America, EMEA)- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The North America And EMEA Ferrosilicon market size was valued at US$ 3.90 billion in 2021 and is expected to hit US$ 6.11 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.6% from 2022 to 2030.

Key Takeaways:

• The stainless steel application segment led the market in 2021 due to the high consumption of stainless steel in the production of utensils and surgical instruments
• Cast iron is expected to register a growth rate of 3.5%, in terms of revenue, from 2022 to 2030 owing to its growing deployment in various applications
• Growing emphasis on creating differentiation in cookware products and the making of machines & automotive parts has led to the growth of the cast iron market
• Europe dominated the market with more than 64% share of the total revenue in 2021. Growing business opportunities in the ferroalloys and steel industry coupled with rising emphasis on crude steel production in Europe is anticipated to drive the product demand over the forecast period
• Middle East and Africa are expected to exhibit a CAGR of 4.3%, in terms of revenue, from 2021 to 2030. The demand for the machinery of the oil & gas industry is high in the region for carrying out exploration & production activities, which, in turn, is expected to drive the market

Growth Factors:

Increasing demand for ferrosilicon as inoculant and deoxidizer in industries including steel and iron casting is anticipated to propel the market growth over the coming years.

Rising demand for electrical steel in the production of motors, transformers, and amplifiers owing to its properties that improve the electrical resistivity is the major factor fueling the market growth. Moreover, increasing demand from applications, such as electricity transmission and distribution, power generation, automobiles, renewable energy, industrial machines, and home appliances, is further expected to drive the market over the forecast period.

The industry is facing strict government mandates and ups and downs in the raw material supply chain. These are some prime challenges that companies need to work upon. Manufacturers are investing in developing technologies to curb CO2 emissions and lower the energy consumption in the production of ferrosilicon by opting for biochar pellets and charcoal.

Established market players are opting for sustainable methods for manufacturing steel, which is one of the key applications of the market. For instance, in October 2020, ArcelorMittal Europe announced to produce green steel using CO2 technology, which enables to offer green solutions to the consumers. The company’s target is to reduce carbon footprints by 32% by 2030.

Ferrosilicon acts as a manufacturing additive in the production of steel and its products. Many key players of the steel industry are investing in mergers & acquisitions for product advancement. For instance, in January 2021, United States Steel Corp. acquired Big River Steel for approximately USD 779 million on account of manufacturing sustainable and high-strength steel. The steelmakers have collaborated to produce low-cost mini-mill technologies and focus on product innovation.

Report Scope of the North America And EMEA Ferrosilicon Market

Application Insights

Carbon & alloy steel dominated and accounted for more than 45           % revenue share of the total market in 2021. Increasing consumption of carbon steel in the construction industry coupled with a growing number of infrastructure projects across developing and developed economies is fueling the market growth.

Stainless steel is in high demand owing to its various features including corrosion resistance, low maintenance, and recyclability. Rising applications of stainless steel in the construction, medical, and food processing industries along with consumer products, such as stoves, cookware, and aesthetic goods, are stimulating the market growth.

Cast iron is another vital application of ferrosilicon. Low cost, high compressive strength & hardness, and strong electrical resistivity are the properties making cast iron viable for various applications. Increasing demand for cast iron cookware, radiators, machinery, and pipes owing to the aforementioned properties is expected to boost the segment growth over the forecast period.

Regional Insights

North America is projected to grow at the fastest CAGR of 3.8%, in terms of revenue, over the forecast period. The growth is attributed to increasing demand for steel from the construction, automotive, aviation, and defense industries. The North America construction sector is one of the leading sectors globally and contributes significantly to the global GDP. Growth in the construction industry is a key driver boosting the product demand in North America.

Various efforts are being put by the countries in North America to recover economic growth and overcome the losses in 2020. Special focus is being put onthe construction sector by investing morein infrastructural developments. Moreover, the shifting trend towards zero-energy building and increasing spending on renovation activitiesare expected to propel market growth.

The production of crude steel in Europe drives the demand for ferrosilicon products in the region. The European Union reported total crude steel production of 139.2 million tons in 2021,which was 12.8% lower than in 2020. The decline in steel production impacted ferrosilicon demand in the region. Thus, Europe is projected to witness sluggish growth over the forecast period.

Middle East & Africa has a strong presence of prominent oil producers on account of which, the demand for various machinery is very high in the region. Steel is used in the making of most of the drilling equipment. Increasing production of steel to cater to the rising demand from machinery and equipment of the oil & gas industry is thus, expected to benefit market growth over the forecast period.

Key Companies & Market Share Insights

The companies are focusing on increasing the production capacity owing to the rising demand for steel. For instance, in February 2020, Maithan Alloys Ltd., a company engaged in manufacturing ferrosilicon, silicomanganese, and ferromanganese, announced its plan to invest INR 600 crore for setting up 1,20,000 ton units near Kolkata, India to double the capacity in the coming years.Some of the prominent players in the North America and EMEA ferrosilicon market include:

• Eurasian Resources Group
• Ferroglobe
• Eti Elektrometalurji AS
• Elkem ASA.
• Iran Ferroalloys Co.
• FINNFJORD AS
• Eramet Norway
• Thyssenkrupp Materials Trading GmbH
• Huta Å�aziska SA
• EFACO

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at North America for the period of 2017 to 2030

• By Application 

• Carbon & Alloy Steel
• Stainless Steel
• Electrical Steel
• Cast Iron
• Others
• Regional
• North America

• U.S.
• Canada
• Mexico
• Europe
• Russia
• Germany
• U.K.
• Middle East & Africa (MEA)
• GCC

Key Points Covered in North America And EMEA Ferrosilicon Market Study:

• Growth of North America And EMEA Ferrosilicon in 2022
• Market Estimates and Forecasts (2017-2030)
• Brand Share and Market Share Analysis
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise
• Competition Mapping and Benchmarking
• Recommendation on Key Winning Strategies
• COVID-19 Impact on Demand for North America And EMEA Ferrosilicon and How to Navigate
• Key Product Innovations and Regulatory Climate
• North America And EMEA Ferrosilicon Consumption Analysis
• North America And EMEA Ferrosilicon Production Analysis
• North America And EMEA Ferrosilicon and Management