U.S. Ferrosilicon Market Size & Outlook, 2024-2030
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U.S. ferrosilicon market highlights
- The U.S. ferrosilicon market generated a revenue of USD 672.3 million in 2023 and is expected to reach USD 793.8 million by 2030.
- The U.S. market is expected to grow at a CAGR of 2.4% 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.
Ferrosilicon market data book summary
| Market revenue in 2023 | USD 672.3 million |
| Market revenue in 2030 | USD 793.8 million |
| Growth rate | 2.4% (CAGR from 2024 to 2030) |
| Largest segment | Deoxidizer |
| Fastest growing segment | Inoculants |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, U.S. accounted for 5.8% of the global ferrosilicon market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. ferrosilicon market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 793.8 million by 2030.
Deoxidizer was the largest segment with a revenue share of 68.09% in 2023. Horizon Databook has segmented the U.S. ferrosilicon market based on deoxidizer, inoculants, other applications covering the revenue growth of each sub-segment from 2018 to 2030.
The ferrosilicon finds the high demand in the steel industry as a deoxidizing and inoculating agent. As a result, the demand for ferrosilicon in the U.S. is expected to witness growth over the forecast period.
However, steel stocks including United States Steel Corporation, ArcelorMittal, and AK Steel Holding Corporation fell to multi-year lows in 2015, which lowered the steel production volume in the region, which is, in turn, expected to hamper the ferrosilicon industry growth over the forecast 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 |
US Application - Ferrosilicon Market size, 2023 - 2030 (US$M)
U.S. Ferrosilicon Market Outlook Share, 2023 & 2030 (US$M)
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