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KSA and GCC Ferrosilicon Market – Industry Trends and Forecast to 2030

Chemical and Materials

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KSA and GCC Ferrosilicon Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jun 2023
  • Country Level
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

KSA and GCC Ferrosilicon Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 57.35 USD Million
Diagram Market Size (Forecast Year) USD 74.36 USD Million
Diagram CAGR %

Major Markets Players

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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

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Million, Volumes in Units, Pricing in USD

Segments Covered

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)

Countries Covered

Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman

Market Players Covered

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

Market Opportunities

  • Growing demand from steel production industries
  • Increasing applications for corrosion resistance
  • Rising research and development opportunities

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

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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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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FREQUENTLY ASK QUESTIONS

The ferrosilicon market value was USD 57.35 million in 2022.
The ferrosilicon market is projected to grow at a CAGR of 3.3% during the forecast period of 2023-2030.
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 ferrosilicon market is segmented on the basis of silicon content, distribution channel, application, and end-user.
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