Middle East & Africa Ferrosilicon Market Size & Outlook
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MEA ferrosilicon market highlights
- The MEA ferrosilicon market generated a revenue of USD 308.1 million in 2023.
- The market is expected to grow at a CAGR of 1.4% 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, Gulf Cooperation Council is expected to register the highest CAGR from 2024 to 2030.
MEA data book summary
| Market revenue in 2023 | USD 308.1 million |
| Market revenue in 2030 | USD 339.2 million |
| Growth rate | 1.4% (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, MEA region accounted for 2.7% 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 71.54% in 2023. Horizon Databook has segmented the Middle East & Africa ferrosilicon market based on deoxidizer, inoculants, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The presence of major crude steel manufacturing countries including Iran, Saudi Arabia, and Egypt in the region is expected to have a positive impact on the industry growth over the forecast period. African steel production in the initial 10 months of 2015 was nearly unchanged from the same time period in the previous year, as strong production growth in South Africa was offset by falling production in Egypt and Libya.
However, the South African production numbers are still estimates as of now, and the local industry is facing very uncertain conditions and plant closures. In addition, technical issues such as energy shortages and political disturbances are expected to hamper steel production in Northern South African countries, which in turn is expected to hamper the product demand over the forecast period.
Key Regions: U.S. , UK , Japan , Brazil , Gulf Cooperation Council
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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 |
MEA ferrosilicon market size, by country, 2018-2030 (US$M)
Middle East & Africa Ferrosilicon Market Outlook Share, 2023 & 2030 (US$M)
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