New York, Aug. 29, 2023 (GLOBE NEWSWIRE) -- The global Atomized Ferrosilicon Market is expected to witness significant growth at a remarkable CAGR of 4.3% during the forecast period of 2023-2030. Factors such as the Increasing demand for magnesium products, growth in the mining sector, and others are accelerating the demand for atomized ferrosilicon, which, in turn, is benefiting the market growth. In addition, the growing construction and automotive industry across the globe will further boost market growth during the forecast period.
According to a recent report by Consegic Business Intelligence, the atomized ferrosilicon market is poised for strong expansion and is expected to reach USD 80.53 Million by 2030. The market, which was valued at USD 57.59 million in 2022, is predicted to grow at a compound annual growth rate of 4.3% during the period 2023-2030. The report highlights the increasing adoption of atomized ferrosilicon in the mining, metal processing, and semiconductor industry, which is proliferating global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the atomized ferrosilicon market.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1193
Atomized Ferrosilicon is used as a reducing agent during the production of magnesium metal in the metal extraction process. Magnesium metal is generally lightweight. It is utilized in various applications such as the manufacturing of car seats, cameras, power tools, laptops, luggage, and others. Magnesium is heavily used for the manufacturing of firecrackers and fireworks. The engineering application of magnesium includes applications in aerospace body parts and automobiles. Investment in the production of aircraft aerospace body parts across the globe is driving the market growth globally. For instance, in July 2023, Collins Aerospace announced the investment of USD 14 million for the construction of its additive manufacturing and aerospace components manufacturing facility in West Des Moines, Iowa, U.S. With the launch of a new production facility the company aims to improve their aerospace components production capacity to meet the growing client demand. Hence, the increase in the demand for aerospace components is boosting the demand for atomized ferrosilicon for the manufacturing of magnesium metal. This, in turn, is benefiting market growth.
Global Atomized Ferrosilicon Market: Report Attributes
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | USD 80.53 Million |
| CAGR (2023-2030) | 4.3% |
| By Type | Coarse Atomized FeSi, Fine Atomized FeSi, and Extra Fine Atomized FeSi |
| By Application | Metallurgy Processing, Diamond Processing, Semiconductor Processing, Mining, Welding, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more. |
| By Region | North America, Asia-Pacific, Latin America, Europe, Middle East & Africa |
| Key Players | DMS Powders, Sinoferro, Futong Industry, Exxaro, M&M Alloys, Imexsar, and Westbrook Resources Ltd. |
Immediate Delivery Available, Buy Now @ https://www.consegicbusinessintelligence.com/secure-checkout/1193
Global Atomized Ferrosilicon Market Segmentation Details:
Based on Type, the fine atomized FeSi segment contributed the largest shares to the market growth in 2022. Atomized ferrosilicon is employed in the manufacturing of polyurethane dispersions (PUDs) to offer unparalleled versatility. Fine atomized FeSi have properties such as resistance to corrosion, hardness, and strong anti-galling properties. Due to this, it is used in the production of alloys. It also has strong magnetic properties, which makes it a useful component in magnetic separation. The significant growth in industrialization worldwide is improving the demand for metal alloys. The increasing government initiatives to boost industrialization are driving segment growth. For instance, in December 2022, the Government of India undertook initiatives to promote the manufacturing sector, due to which the manufacturing sector across the country increased by 11.85 in the financial year 2022 from the previous year, which, in turn, is benefiting the market growth.
Based on the Application, metallurgy processing accounted for the largest market share in the year 2022. Atomized ferrosilicon is used in the metal and scrap processing industry for metal refining applications. In scrap processing, atomized ferrosilicon separates mixed heavy metals such as copper alloys, magnesium, aluminum, and steel. Atomized ferrosilicon also reduces energy consumption during the metallurgy processing application. The increasing focus on scrap recycling is expected to drive the segment’s growth. For instance, in August 2021, Tata Steel launched there first steel recycling plant at Rohtak in Haryana in India. The plant has been set up in collaboration with Aarti Green Tech Ltd., on a ‘Build, Own, Operate’ (BOO) basis. The plant has an annual capacity of 0.5 million tonnes of steel recycling. Hence, the increasing focus on scrap recycling projects will create a lucrative opportunity for Atomized Ferrosilicon demand for metallurgy processing applications. This, in turn, will boost the segment growth in the upcoming years.
Get Sample Report@ https://www.consegicbusinessintelligence.com/request-sample/1193
Based on Region, in the year 2022, Asia Pacific accounted for the largest share contribution to the market growth, this is due to the growth of the various end-use industries, including mining, metal processing, semiconductor, and others. Atomized ferrosilicon is used for metal and alloy processing applications in the semiconductor industry. According to the data published by Semiconductor Industry Association in January 2022, China’s semiconductor device sales recorded USD 39.8 billion, accounting for only 30.6% of global chip sales in 2020. With this high production of semiconductors in China the country accounts for 9% of global semiconductor production in 2020. Furthermore, increasing investments across the metallurgical industry the is also driving market growth. For instance, in Jue 2022, the mining sector in India attracted a foreign direct investment of USD 21.34 billion in the financial year 2021-22, which was a 76% increase from the previous year
Competitive Landscape
DMS Powders, Sinoferro, Futong Industry, and Exxaro are major market players that comprise the latest market circumstances. These companies are substantially leveraging their technologies for the development of a new range of atomized ferrosilicon. Further, the atomized ferrosilicon market is expected to grow steadily due to rising demand from the building and construction industry, especially in the regions such as Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend toward increasing the development of new atomized ferrosilicon manufacturing facilities in the upcoming years, thereby anticipated to increase the competition in the market.
Recent Developments
- In November 2021, Gxakra Investment (GI) consortium announced the acquisition of DMS Powders, which is a producer of ferrosilicon in South Africa. With the acquisition, the company aims to expand GMS’s product portfolio for ferrosilicon.
Key Market Takeaways
- Asia Pacific accounted for the highest market share at 35.55% and was valued at USD 20.47 million in 2022 and is expected to reach USD 28.80 million in 2030. Moreover, in Asia Pacific, China. accounted for the highest market share of 22.25% during the base year of 2022.
- Based on type, the fine atomized FeSi segment accounted for the highest share contribution to the atomized ferrosilicon market statistics in 2022.
- In the context of Application, the metallurgy processing segment is expected to contribute significant shares to the growth of atomized ferrosilicon market statistics during the forecast period.
- North America is expected to grow with the highest CAGR in the atomized ferrosilicon due to the increasing investments in new building and construction projects in countries such as U.S., Canada and Others.
Browse Full Report & TOC @ https://www.consegicbusinessintelligence.com/atomized-ferrosilicon-market
List of Major Global Atomized Ferrosilicon Market:
- DMS Powders
- Sinoferro
- Futong Industry
- Exxaro
- M&M Alloys
- Imexsar
- Westbrook Resources Ltd.
- Reade International Corp.
Global Atomized Ferrosilicon Market Segmentation:
- By Type
- Coarse Atomized FeSi
- Fine Atomized FeSi
- Extra Fine Atomized FeSi
- By Application
- Building & Construction
- Metal Processing
- Diamond Processing
- Semiconductor Processing
- Mining
- Welding
- Others
Request for Customization @ https://www.consegicbusinessintelligence.com/request-customization/1193
Frequently Asked Questions in the Atomized Ferrosilicon Market Report
- What was the market size of the atomized ferrosilicon industry in 2022?
- In 2022, the market size of atomized ferrosilicon was USD 57.59 million
- What will be the potential market valuation for the atomized ferrosilicon industry by 2030?
- In 2030, the market size of atomized ferrosilicon will be expected to reach USD 80.53 million.
- What are the key factors driving the growth of the atomized ferrosilicon market?
- Increasing demand for magnesium products is benefiting the market growth.
- What is the dominating segment in the atomized ferrosilicon market by type?
- In 2022, the fine atomized FeSi segment accounted for the highest market share of 58.50% in the overall atomized ferrosilicon market.
- Based on current market trends and future predictions, which geographical region is the dominating region in the atomized ferrosilicon market?
- Asia Pacific accounted for the highest market share in the overall atomized ferrosilicon market.
Our Other Research Reports here:-
Telecom Equipment Market Size | Industry Forecast 2023 - 2030
Chrome Metal Powder Market Size | Industry Forecast 2023 - 2030
Ethernet Switch Market Size | Industry Forecast 2023 - 2030
Fiber Optic Cable Assemblies Market Size | Industry Forecast 2023 - 2030
Passenger Service System Market Size | Industry Forecast 2023 - 2030
About Consegic Business Intelligence Pvt Ltd.
Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.
Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.
Press Releases:- https://www.consegicbusinessintelligence.com/press-release/atomized-ferrosilicon-market
Contact:
Consegic Business intelligence Pvt Ltd.
Contact no.: (US) (505) 715-4344
Email: sales@consegicbusinessintelligence.com
