KSA and GCC Ferrosilicon, By Silicon Content (15%, 45%, 75%, and 90%), Distribution Channel (Offline and Online), Application (Inoculant, Deoxidizer, and Others), End-User (Steel & Metallurgy, Chemicals, Semiconductors, Ferrous Foundry, Photovoltaic Solar Energy, and Others) – Industry Trends and Forecast to 2030.
KSA and GCC Ferrosilicon Market Analysis and Size
Ferrosilicon is an alloy of iron and silicon with a high proportion of silicon (usually between 15-90%). It is used as a deoxidizer in steelmaking, as well as for the production of other alloys such as ferrotitanium and ferromanganese. Ferrosilicon also has applications in the electronics industry, where it can be used to produce semiconductors and in the production of solar cells. The high silicon content of ferrosilicon makes it an ideal material for use in the production of cast iron and steel.
Data Bridge Market Research analyses that the Ferrosilicon market which was USD 57.35 million in 2022, would rocket up to USD 74.36 million by 2030, and is expected to undergo a CAGR of 3.3% during the forecast period. This indicates that the market value. "75%" dominates the silicon content segment of the Ferrosilicon market due to the growing popularity and its demand in the steel industry. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
KSA and GCC Ferrosilicon Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Silicon Content (15%, 45%, 75%, and 90%), Distribution Channel (Offline and Online), Application (Inoculant, Deoxidizer, and Others), End-User (Steel & Metallurgy, Chemicals, Semiconductors, Ferrous Foundry, Photovoltaic Solar Energy, and Others)
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Countries Covered
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Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman
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Market Players Covered
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Elkem A.S.A., (Norway) , Steel Force (Saudi Arabia), iran-ifc (Iran), MORTEX GROUP (India), K.F.A. Ferro Alloys(India), O.M. Holdings Ltd.(Singapore), Sabayek(Turkey), Capstone Alloys (U.A.E) , and others
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Market Opportunities
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Market Definition
Ferrosilicon is produced by reduction of silica or sand with coke in the presence of iron. Typical sources of iron are scrap iron or millscale. Ferrosilicons with silicon content up to about 15% are made in blast furnaces lined with acid fire bricks. Ferrosilicons with higher silicon content are made in electric arc furnaces. The usual formulations on the market are ferrosilicons with 15%, 45%, 75%, and 90% silicon. The remainder is iron, with about 2 % consisting of other elements like aluminium and calcium. An overabundance of silica is used to prevent formation of silicon carbide.
KSA and GCC Ferrosilicon Dynamics
Drivers
- High demand for steel in automotive, construction, and manufacturing industries
The demand for steel is high in various industries such as automotive, construction and manufacturing. Usage of Ferrosilicon in steel making improves the physical, chemical, and mechanical properties of steel. It also improves the quality of steel and its casting. Ferrosilicon products are important raw materials for steel and other metallurgical industries. These are the factors which can drive the ferrosilicon market.
- Burgeoning growth of automobile and construction industries to boost Ferrosilicon
The demand for corrosion-resistant materials is increasing in construction and automobile industries. Bridges, structural support materials, and automobile bodies must last for a long period without corroding. Therefore, Ferrosilicon is used in buildings and automobiles owing to its beneficial properties. The automotive industry is expected to witness significant demand for steel in the near future. The ferrosilicon market is also driven by the construction activities in emerging economies across the globe owing to rapid urbanization which is expected to drive the market growth.
- High demand for atomized Ferrosilicon due to its beneficial properties
Atomized Ferrosilicon is a high-tech product. It has low oxygen content, efficient spreading properties, and excellent fluidity features such as viscosity and surfaces tension. It also has spherical particles. Atomized ferrosilicon powder cannot be matched with or replaced by common Ferrosilicon. Spherical particle confirms the proper blending of the powder with welding flux. The atomization process ensures that less or no hydrogen gas is generated. Hence, manufacturers are increasing in the production of powdered Ferrosilicon. Thus, it further fostered the growth of the ferrosilicon market.
Opportunities
The stainless steel application segment of the ferrosilicon market is anticipated to witness significant opportunity in the forecast period. This can be attributed to the increasing demand for stainless steel from various end-user industries such as automotive, construction, and consumer goods. Additionally, the growing demand for ferrosilicon in stainless steel production due to its ability to improve corrosion resistance and strength properties of steel is also a good opportunity to the growth of this market. Which will extend profitable opportunities for the market players in the forecast period of 2023 to 2030. Thus it will result to increase the demand of ferrosilicon in various sectors, which in turn escalates the growth of the global ferrosilicon devices market.
Restraints/Challenges
Ferrosilicon consumption is declined in the recent past across the globe, owing to the slowdown in crude steel production in the past few tears and increasing preference towards alternative materials such as crude steel in china and other countries. Furthermore, steady growth in the world output of iron casting, results into the greater utilization of aluminum in manufacturing of automobiles. Hence, utilization of alternative materials is one of the major challenges identified in the market and thus hindering the growth of Europe ferrosilicon devices market in the forecast period of 2023-2030.
This Ferrosilicon market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Ferrosilicon market contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In June 2022, Ferroglobe PLC entered a new phase in its silicon metal powder project for batteries and other advanced technologies, reaching a high purity production (up to 99.995%) in micrometer and sub-micrometer size
- In June 2022, Ferroglobe PLC announced a Memorandum of Understanding ("MOU") with REC Silicon. Under the MOU, Ferroglobe commits to leverage its asset platform in the United States to supply high-purity silicon metal to REC Silicon aimed at jointly establishing a low-carbon and fully traceable U.S.-based solar supply chain
KSA and GCC Ferrosilicon Scope
The ferrosilicon market is segmented on the basis of silicon content, distribution channel, application, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Silicon Content
- 15%
- 45%
- 75%
- 90%
Distribution Channel
- Inoculant
- Deoxidizer
- Others
End-User
- Steel & Metallurgy
- Chemicals
- Semiconductors
- Ferrous Foundry
- Photovoltaic Solar Energy
- Others
KSA and GCC Ferrosilicon Regional Analysis/Insights
The KSA and GCC Ferrosilicon is analysed and market size insights and trends are provided by country product type, technology, price range, distribution channel, gender and end-user as referenced above.
The countries covered in the Ferrosilicon market report are Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman.
Saudi Arabia is expected to dominate the Ferrosilicon market due to the increased use of ferrosilicon in metallurgy, semiconductors, solar energy, and chemicals amongst others in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of KSA and GCC brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Automotive Infrastructure Growth Installed Base and New Technology Penetration
The ferrosilicon market also provides you with a detailed market analysis for every country's growth in automotive expenditure for capital equipment, installed base of different kinds of products for the ferrosilicon market, the impact of technology using lifeline curves, and changes in automotive regulatory scenarios and their impact on the Ferrosilicon market. The data is available for the historic period 2015-2020.
Competitive Landscape and Ferrosilicon Market Share Analysis
The ferrosilicon market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the ferrosilicon market.
Some of the major players operating in the ferrosilicon market are:
- Elkem A.S.A.(Norway)
- Steel Force (Saudi Arabia)
- iran-ifc (Iran)
- MORTEX GROUP(India)
- K.F.A. Ferro Alloys(India)
- O.M. Holdings Ltd.(Singapore)
- Sabayek,(Turkey)
- Capstone Alloys (U.A.E)
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