North America Ferrosilicon Market Size & Outlook, 2024-2030
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North America ferrosilicon market highlights
- The North America ferrosilicon market generated a revenue of USD 954.1 million in 2023.
- The market is expected to grow at a CAGR of 2.2% 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, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 954.1 million |
| Market revenue in 2030 | USD 1,111.8 million |
| Growth rate | 2.2% (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, North America region accounted for 8.3% 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 70.13% in 2023. Horizon Databook has segmented the North America ferrosilicon market based on deoxidizer, inoculants, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The ferrosilicon demand in the region is primarily driven by the U.S., which accounts for the highest share in steel production amongst the North American countries. Canada is expected to be a key market for ferrosilicon in North America owing to the wide steel production base in the country.
Canada has around 20 steel manufacturing facilities across 5 provinces, which employ over 22,000 populations. The aforementioned factors are expected to have a positive impact on the ferrosilicon industry growth over the projected period.
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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 |
North America ferrosilicon market size, by country, 2018-2030 (US$M)
North America Ferrosilicon Market Outlook Share, 2023 & 2030 (US$M)
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