Global Ferroalloy Market - Industry Analysis 2014 -- 2020
Transparency Market
Research (TMR) has released a market study on the global ferroalloy
market, which examines the development of the market for the period
from 2014 to 2020. The report is titled “Global Ferroalloy Market -
Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 -
2020" and states that the ferroalloy market will rise at a CAGR
of 5.40% from 2014 to 2020. If the projected figure holds true, the
market will reach a valuation of US$53.5 bn by 2020, increasing from
US$37.2 bn in 2013.
Download the
Exclusive Sample Report Here
:http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2847
Ferroalloys are used
as one of the major raw materials in the manufacture of steel, as
they impart distinctive qualities to the finished product. In
addition, ferroalloys are used for desulfurizing, deoxidizing, and
reinforcing purposes to remove impurities that are present in iron
ores, which are subsequently used in the manufacture of steel. Thus,
development of the steel industry will impact the growth of the
overall ferroalloy market positively, say TMR analysts. In
particular, the expanding construction sector in BRICS countries that
depends heavily on steel to carry out mega-construction projects,
will accentuate growth of the ferroalloy market.
However, the high
operational cost of ferroalloys, combined with stringent regulations
for ferroalloys, is challenging the growth of this market. Using
novel raw materials, the development of strong and lightweight steel
is bolstering demand for steel manufactured for some specific
industries. This will benefit the ferroalloys market in the forecast
period.The global ferroalloys market is segmented on the basis of
product and geography. Amongst all the ferroalloy products,
ferromanganese is produced and consumed on a large scale in a few
industries. In terms of volume, the ferromanganese product segment
accounted for over 37% of the overall ferroalloy market in 2013.
However, ferrochrome
will exhibit increasing demand in the coming years due to rising
demand for anticorrosive steel from the automobile industry. Other
than these, ferrosilicon is mainly used as an alloying and
deoxidizing agent in the manufacture of steel.The report states that
among the regional segments, China registered the largest consumption
of ferroalloys in 2013. In China, the presence of a large number of
steel manufacturing plants that have high production capacity will
account for the large demand for ferroalloys in China. As such, the
volume growth of the China ferroalloys market will be at a CAGR of
4.60% from 2014 to 2020.
Europe trails China
in the demand for ferroalloy, due to the presence of a large number
of automobile industries that heavily depend on steel in the
manufacture of the chassis of vehicles. The Rest of Asia Pacific
regional segment will exhibit substantial demand for ferroalloys due
to the high number of construction activities in India and Japan. The
regional segments of North America and Rest of the World will exhibit
sluggish growth in the ferroalloys market during the forecast
period.The report mentions some of the major companies operating in
the global ferroalloys market, namely Eurasian Natural Resources
Corporation PLC, S.C. Feral S.R.L., and Sinosteel Jilin Ferroalloy
Corporation.
Browse the ful
Ferroalloy (Ferrochrome, Ferromanganese, Ferrosilicon and Others)
Market - Global Industry Analysis, Size, Share, Growth, Trends and
Forecast, 2014 - 2020 report at
http://www.transparencymarketresearch.com/ferroalloy-market.html
The ferroalloy
market is segmented as follows:
Ferroalloy Market -
Product Segment Analysis
Ferrochrome
Ferromanganese
Ferrosilicon
Others
(Ferrotungsten, ferronickel, ferroboron, etc.)
Browse : Our new
press releases
http://www.transparencymarketresearch.com/metals-and-minerals-market-reports-20.html
Comments
Post a Comment