Latin America Ferrosilicon Market Size & Outlook, 2024-2030
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Latin America ferrosilicon market highlights
- The Latin America ferrosilicon market generated a revenue of USD 267.7 million in 2023.
- The market is expected to grow at a CAGR of 1.3% from 2024 to 2030.
- In terms of segment, deoxidizer was the largest revenue generating application in 2023.
- Inoculants is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 267.7 million |
| Market revenue in 2030 | USD 291.4 million |
| Growth rate | 1.3% (CAGR from 2024 to 2030) |
| Largest segment | Deoxidizer |
| Fastest growing segment | Inoculants |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Deoxidizer, Inoculants, Other Applications |
| Key market players worldwide | Elkem ASA Ordinary Shares, Eurasian Resources Group, Ferroglobe PLC, OM Holdings Ltd, Ferro-Alloy Resources Ltd Ordinary Shares, China Petroleum & Chemical Corp Class H |
Other key industry trends
- In terms of revenue, Latin America region accounted for 2.3% of the global ferrosilicon market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 9,417.6 million by 2030.
Deoxidizer was the largest segment with a revenue share of 67.28% in 2023. Horizon Databook has segmented the Latin America ferrosilicon market based on deoxidizer, inoculants, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for ferrosilicon in the region is primarily driven by steel producing countries including Brazil, Egypt, and Argentina. Brazil was a key consumer of ferrosilicon in 2015 owing to high production volume of steel in the country.
Although the steel production in Latin American countries including Brazil, Chile, Argentina, Paraguay, and Venezuela witnessed a downfall over the past few years, steel production in countries such as Uruguay, Peru, and Ecuador is expected to grow over the forecast period and have a positive impact on the ferrosilicon industry growth in the region.
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Ferrosilicon Market Scope
Ferrosilicon Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Ferro-Alloy Resources Ltd Ordinary Shares | View profile | 200 | Noble House, Les Baissieres, Saint Peter Port, Guernsey, GY1 2UE | https://www.ferro-alloy.com |
| Eurasian Resources Group | View profile | 10001+ | Luxembourg, Luxembourg, Luxembourg, Europe | https://www.eurasianresources.lu/ |
| China Petroleum & Chemical Corp Class H | View profile | 368450 | No. 22 Chaoyangmen North Street, Chaoyang District, Beijing, China, People's Republic of, 100728 | http://www.sinopec.com |
| Elkem ASA Ordinary Shares | View profile | 7436 | Drammensveien 169, Oslo, Norway, 0277 | https://www.elkem.com |
| OM Holdings Ltd | View profile | 1851 | 10 Eunos Road 8, No. 09 - 03A, Singapore Post Centre, Singapore, Singapore, 408600 | http://www.omholdingsltd.com |
| Ferroglobe PLC | View profile | 3403 | 13 Chesterfield Street, London, United Kingdom, W1J 5JN | https://www.ferroglobe.com |
Latin America ferrosilicon market size, by country, 2018-2030 (US$M)
Latin America Ferrosilicon Market Outlook Share, 2023 & 2030 (US$M)
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