Global silicon alloys market is set to witness a CAGR of substantial 5.25% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for iron and steel products worldwide is the major factor for the growth of this market.
Key Market Competitors:
Few of the major competitors currently working in global silicon alloys market are RFA International, OM Holdings Ltd, Kuwait United Chemalloys Manufacturing, DMS Powders (Pty) Ltd, Ferroglobe, SKP Business Consulting LLP., ArcelorMittal, JSCMS, Metal & Alloys Corporation, Elkem ASA, Georgian American Alloys, Inc, Lalwani Ferroalloy Ltd., Tata Steel, Pioneer Carbide Pvt. Limited, Steelmin Limited, JAJOO GROUP'S,, Acciaierie Valbruna S.p.a., Jai Balaji Industries Limited among others.
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Global silicon alloys market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of silicon alloys market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Silicon alloys are metallic semiconductors which are formed by the combination of element silicon and alloys are widely used for the formation of silica or sand. Ferrosilicon, inoculants, deoxidizers, etc. are some of the common type of the silicon alloys. Silicon alloys are produced with large quantity of silicon so that they can stop the formation of silicon carbide. Growth of the automotive industry is the major factor fuelling the growth of this market.
Market Segmentation: Global Silicon Alloys Market
- By Type (Ferrosilicon, Deoxidizers, Inoculants, Others)
- By Application (Carbon Steel & Other Alloy Steel, Stainless Steel, Electrical Steel, Cast Iron, Others)
- By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
- Rising automotive industry is the major factor for the growth of this market
- Increasing urbanization and industrialization is another factor driving the growth of this market.
- Increasing disposable income will also accelerate the market growth
- Rising production of automobile vehicles will also enhance the market growth
- High production cost of the silicon alloy is restraining the growth of this market
- Increasing environmental issues due to excessive usage of reducing agents is another factor restraining the market growth.
- High electricity cost will also hamper the market growth
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved
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