How big is the India ferrosilicon market?

The India ferrosilicon market size was estimated at USD 347.7 million in 2022 and is expected to reach USD 377.7 million in 2023.

What is the India ferrosilicon market growth?

The India ferrosilicon market is expected to grow at a compound annual growth rate of 5.0% from 2023 to 2033 to reach USD 512.8 million by 2030.

Which application segment accounted for the largest share of the India ferrosilicon market?

The deoxidizer segment dominated the market with a revenue share of over 79.0% in 2022. The segment is witnessing significant growth owing to increasing demand for deoxidizers for steel manufacturing in India.

Who are the key players in the India ferrosilicon market?

Some of the key vendors of the India ferrosilicon market are BERRY ALLOYS LIMITED G K Min Met Alloys Co, Maithan Alloys Ltd, and Shyam Metalics.

What are the key factors driving the India ferrosilicon market?

The key factor that is driving the growth of the India ferrosilicon market is the government's initiatives towards achieving its goal of 300 million tons of crude steel capacity by 2030. This in turn is expected to increase the demand for ferrosilicon as a deoxidizer in the steel manufacturing process.