Global Ferroalloy Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020

Transparency Market

Research

Global Ferroalloy Market - Industry Analysis, Size, Share,

Growth, Trends and Forecast, 2014 – 2020

Published Date

29-07-2014

72 Page Report

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Global Ferroalloy Market is Expected to Reach USD 53.56 Billion in 2020

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Global Ferroalloy Market

REPORT DESCRIPTION

Transparency Market Research has released a new report titled “Ferroalloy Market - Global Industry

Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020.” According to the report, the global

ferroalloy market was valued at USD 37.25 billion in 2013 and is anticipated to reach USD 53.56 billion in

2020, expanding at a CAGR of 5.4% between 2014 and 2020.

Ferroalloy is one of the major raw materials used in the manufacture of steel. Ferroalloys impart distinctive

qualities to steel and cast iron. Ferroalloy is widely used as deoxidizing, desulfurizing and reinforcing

agents. This helps in the removal of sulfur, phosphorus and oxygen impurities that are present in iron ores

and this iron ores are used in the manufacture of steel. Thus, growth in the steel industry is estimated to

boost the overall ferroalloy market. Furthermore, growth in the construction industry, especially in BRICS

countries, is likely to increase the demand for steel. This, in turn, is projected to drive the overall growth of

the ferroalloy market. However, high operational cost coupled with stringent environmental regulations is

expected to hamper growth of the ferroalloy market in the near future. Development of lightweight, high

tensile strength steel is anticipated to boost demand for steel, especially in the automobile industry. This is

further estimated to augment growth of the ferroalloy market.

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