Global Silicon Alloy boost the growth of Industry 2025
Our latest research report entitled Silicon Alloy Market (by type (ferrosilicon, aluminium-silicon alloy, and other types), application (carbon steel & other alloy steel, stainless steel, electrical steel, cast iron, and other application)) provides complete and deep insights into the market dynamics and growth of silicon alloy market . Latest information on market risks, industry chain structure silicon alloy market cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential silicon alloy market growth factors. the global silicon alloy market is projected to grow at a healthy CAGR over the forecast period of 2019-2025.
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Silicon Alloy Market: Insight
As an alloying element, silicon is used to increase the elasticity and the tensile yield as well as annealing resistance for different steel qualities. Ferrosilicon alloy, a silicon alloy is used extensively in the automotive and industrial sector. They are mainly used in the manufacturing of steel and cast iron.
Silicon Alloy Market: Drivers and Restraints
The growing demand for steel in several end-use industries such as automotive, construction, shipbuilding, and several other industrial sectors is one of the major drivers for the silicon alloy market. In addition, the growing automotive sales all over the globe are primarily anticipated to drive the growth of the silicon alloy market. Steel and cast iron an important constituent for the production of automotive vehicles. Steel is the primary material in body and chassis structures. It is the backbone of the entire vehicle. In cars, steel makes up about 65 % of the weight. The growing disposable income and favourable financial policies are increasing automotive sales and increasing the demand for the basic raw material among automotive manufacturers. Furthermore, the use of silicon alloy in the manufacturing of industrial equipment’s and in construction favours the growth of the market. However, due to the growing demand for fuel-efficient vehicles, automotive manufacturers are reducing the weight of the vehicle that reduces the amount of steel used in the automotive industry. This is likely to affect the growth of the silicon alloy market in the near future. However, growing applications of silicon alloys is expected to create favourable growth opportunities for the market.
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Silicon Alloy Market: Regional Analysis
Among the geographies, Asia-Pacific holds the dominant share in the global silicon alloy market. About 8 million metric tonnes of ferrosilicon, a type of silicon alloy is produced each year globally, with China accounting for about 70 per cent of this total. Furthermore, the presence of large producers of ferrosilicon such as Erdos Metallurgy Group, Ningxia Rongsheng Ferroalloy, Group OM Materials, and Elkem in China are favouring the growth of the silicon alloy market. Furthermore, the growing steel industry in India is also anticipated to drive the growth of the Asia-Pacific silicon alloy market.
Silicon Alloy Market: Segmentation
The report on global silicon alloy market covers segments such as type and application. On the basis of type, the sub-markets include ferrosilicon, aluminium-silicon alloy, and other types. On the basis of application, the sub-markets include carbon steel & other alloy steel, stainless steel, electrical steel, cast iron, and other application.
Silicon Alloy Market: Competitive Landscape
The report provides profiles of the companies in the market such as Jindal Stainless Limited., American Elements Corp, ArcelorMittal S.A., Dragon Northwest Ferroalloy Co., Ltd., RFA International, LP, OM Holdings Limited, Elkem ASA, Ferroglobe PLC, Tata Steel Limited, Metal & Alloys Corporation, and Other Companies.
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Reasons to Buy this Report:
Comprehensive analysis of global as well as regional markets of the silicon alloy market.
Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.”