市场调查报告书
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1605308
铁合金市场规模、份额、成长分析,按类型、按应用、按最终用途行业、按地区 - 行业预测,2024-2031 年Ferroalloys Market Size, Share, Growth Analysis, By Type (Bulk Alloys, Nobel Alloys), By Application (Stainless Steel, Cast Iron), By End Use Industry (Construction, Automotive), By Region - Industry Forecast 2024-2031 |
2022年全球铁合金市场规模为503.5亿美元,从2023年的539.2亿美元增长到2031年的933.5亿美元,在预测期内(2024-2031年)预计复合年增长率为7.1%。
铁合金透过以实用且经济的方式在熔融金属中添加特定的合金元素,在提高钢和合金的性能方面发挥重要作用。铁合金对于钢铁生产至关重要,因其精製和强化钢铁应用的能力而越来越受到工业界的认可。各国政府和国际组织正在透过促进铁合金的使用来应对日益增长的环境问题,特别是在开发中国家。一个着名的例子是埃肯金属加拿大公司。该公司已从联邦政府获得 500 万加元,并从魁北克政府获得额外 1,195 万加元,用于开发环保生物碳团块来取代冶金煤。该倡议旨在显着减少铸造厂和钢厂的环境足迹,并计划透过用永续的团块替代冶金煤,每年减少 10 万吨二氧化碳当量。铁合金的需求也受到其卓越的拉伸强度和耐用性的能力的推动,这使其对汽车和运输行业的相关人员有吸引力。在后COVID-19情况下,产业相关人员正在努力与供应商和生态系统合作伙伴建立平衡的关係,以推动市场成长,从而导致各行业铁合金应用和投资的强劲增长,这预示着未来。
Global Ferroalloys Market size was valued at USD 50.35 billion in 2022 and is poised to grow from USD 53.92 billion in 2023 to USD 93.35 billion by 2031, growing at a CAGR of 7.1% during the forecast period (2024-2031).
Ferroalloys play a critical role in enhancing the properties of steels and alloys through the practical and economical addition of specific alloying elements to molten metal. Essential for steel production, ferroalloys are increasingly recognized by the industrial sector for their capability to refine and strengthen steel applications. Governments and international organizations are responding to rising environmental concerns by promoting the usage of ferroalloys, particularly in developing nations; this support includes funding initiatives to facilitate their adoption. A noteworthy example is Elkem Metal Canada Inc., which secured CAD 5 million from the federal government and an additional CAD 11.95 million from the Quebec government to develop biocarbon briquettes-an eco-friendly alternative to metallurgical coal. This initiative aims to significantly reduce the environmental footprint of foundries and steelworks, with plans to cut 100,000 tonnes of CO2 equivalent annually by replacing metallurgical coal with sustainable bio-briquettes. The demand for ferroalloys is also being driven by their ability to deliver superior tensile strength and durability, making them attractive to stakeholders in the automotive and transportation sectors. In the post-COVID-19 landscape, industry players are striving to establish balanced relationships with suppliers and ecosystem partners to stimulate market growth, indicating a robust future for ferroalloy applications and investments across various industries.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Ferroalloys market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Ferroalloys Market Segmental Analysis
Global Ferroalloys Market is segmented by type, application, end use industry and region. Based on type, the market is segmented into bulk alloys (ferrosilicon, ferromanganese, ferrochromium) and noble alloys (ferromolybdenum, ferronickel, ferrovanadium). Based on application, the market is segmented into carbon & low alloy steel, stainless steel, alloy steel, cast iron and others (superalloys, welding electrodes). Based on end use industry, the market is segmented into construction (infrastructure, residential, commercial), automotive (passenger vehicles, commercial vehicles), aerospace (aircraft manufacturing, spacecraft manufacturing), oil & gas (exploration, production) and others (electronics, shipbuilding). Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Driver of the Global Ferroalloys Market
The global ferroalloys market is expected to see significant growth driven by the increasing demand for steel production worldwide. Various types of ferroalloys, including ferrochrome, ferrosilicon, ferromanganese, and ferromolybdenum, play crucial roles in different steel-making processes. For example, ferrovanadium enhances steel's resistance to aggressive chemicals such as alkalis and acids, while also improving the strength of casting and welding electrodes. The need for high-performance materials capable of withstanding extreme operational conditions in industries like aerospace and energy is propelling the demand for superalloys, which utilize ferroalloys. As the aerospace sector pushes for advanced aircraft manufacturing, the prospects for ferroalloys continue to brighten, presenting ample opportunities for stakeholders in this market.
Restraints in the Global Ferroalloys Market
The global ferroalloys market may face significant constraints due to the increasing substitution of stainless steel with carbon fibers. Known for their lightweight, high strength, and excellent load-bearing properties, carbon fibers are increasingly favored in the automotive industry, leading to an approximate 30% reduction in vehicle weight when utilized. The rising emphasis on fuel efficiency and the demand for lightweight vehicles further elevate the popularity of carbon fibers as a preferred material. Additionally, advancements in automated production processes make carbon fibers a more appealing option compared to stainless steel, ultimately posing challenges to the growth of the ferroalloys market in the future.
Market Trends of the Global Ferroalloys Market
The global ferroalloys market is poised for significant growth, driven primarily by the booming construction industry, which remains the largest end-use market for steel products such as rebars, sections, channels, and angles. Projections indicate robust expansion of the construction sector from 2022 to 2030, fueled by increasing infrastructure investments and urbanization trends. This surge in construction activities is expected to elevate the demand for ferroalloys, essential feedstocks in steel production, thereby bolstering the overall market. As the need for high-performance steel rises, the ferroalloys market is set to benefit from favorable market dynamics and increased consumption across various applications.