| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Ferrosilicon Market Analysis
The FerroSilicon Market is expected to register a CAGR of less than 3% during the forecast period.
COVID-19 moderately impacted the global ferrosilicon market due to the raw materials shortage. However, rising semiconductor sectors across the globe have accelerated the consumption of ferrosilicon.
- Increasing applications for corrosion resistance and growing demand from steel production industries are driving market growth.
- Replacement by other substitutes factor is expected to hinder the market growth.
- Increasing demand from the construction and automotive industries is projected to offer new growth opportunities to industry growth during the forecast period.
- Asia-Pacific dominated the global market with the rising application of ferrosilicon in China and India, mainly in the metallurgy and semiconductor industry.
Ferrosilicon Market Trends
Growing Demand from Metallurgy Industry
- Ferrosilicon is an alloy used for steel and casting production applications. FerroSilicon finds its application in metallurgy, semiconductors, solar energy, and chemicals.
- Ferrosilicon includes a strong relationship with steel production industries. Because of its properties, ferrosilicon is used as a steel deoxidizer and an inoculant in the casting industries.
- The properties of ferrosilicon include corrosion and abrasion resistance, high specific gravity, high strength, high magnetism, hardness, and high-temperature resistance. More than 80% of ferrosilicon is consumed in producing iron and steel.
- Corrosion can reduce strength, decrease surface properties, and resistance to fluids. Overall, it decreases the mechanical and chemical properties of certain materials.
- The demand for corrosion resistance from the construction and automobile industries is growing. Bridges, structural support materials, and automotive bodies need to last long without any effect of corrosion. So, many companies are preferring ferrosilicon in construction and automobiles for better quality.
- In 2021, 961,100 road bridges were built in China, an increase of 48,300 from the previous year. China's road bridges have grown by about 46% during the last 12 years.
- Alloying ferrosilicon with other metals makes the compound useful in producing semiconductors. Semiconductors have a huge demand from the electronics industry. Rapid industrialization and growing demand for electronics have been increasing the use of ferrosilicon in various applications.
- In 2021, semiconductor unit sales reached a historic 1.15 trillion-unit shipments as a result of increases in fab utilization rates far above the normal 'full utilization' rate of 80 percent. Additionally, to meet the long-term chips demand, the global semiconductor industry made significant capital investments in 2022, investing more than USD 166 billion.
- According to the Semiconductor Industry Association (SIA), the global semiconductor industry sales was totaled USD 573.5 billion in 2022. China remained the largest market for semiconductors, with sales totaling USD 180.3 billion in 2022.
- Moreover, government policies and incentives in various countries are also providing benefits to improve the global semiconductor research and workforce ecosystem. In May 2021, South Korea unveiled the 'K-Semiconductor Belt' strategy aimed at building the world's largest semiconductor supply chain by 2030. Additionally, in September 2022, the Mexican federal government began to draft a new incentives package to attract semiconductor investment, particularly focused on assembly, testing, and packaging.
- Therefore, the growing demand for ferrosilicon for metallurgy purposes is likely to witness growth in the coming years.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific is expected to dominate the global market owing to the highly developed construction and continuous regional investments to advance the automobile and construction sectors through the years.
- The demand from the construction industry is increasing. According to a study by the Institution of Civil Engineers (ICE), the global construction industry is expected to reach USD 8 trillion by 2030, primarily driven by China, India, and the United States.
- Alloying steel with ferrosilicon includes various properties that enhance their demand in the automotive sector, such as thickness and quality.
- China includes the largest automobile manufacturing base of any other region, accounting for the demand for ferrosilicon in the Asia-Pacific region. According to the China Association of Automobile Manufacturers (CAAM), Chinese carmakers produced 27.02 million units in 2022, up by 3.4% year on year, while sales rose by 2.1% to 26.86 million units.
- Electric vehicle (EV) production and sales in China grew rapidly in 2022, breaking previous records in the year's final month. Sales of electric vehicles increased by 93.4% to 6.89 million units in 2022, a rise of 7.1 million units or a 96.9% year-on-year increase in production.
- Asia-Pacific is the largest producer of electronic components. In recent years, the semiconductors used in almost every electronic device increased the demand for ferrosilicon in producing semiconductors.
- Therefore, the factors above are expected to boost the consumption of ferrosilicon in the Asia Pacific region.
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Ferrosilicon Industry Overview
The global ferrosilicon market is fragmented, with many players competing. Some major companies are China Minmetals Corporation, Eurasian Resources Group, Ferroglobe, OM Holdings Ltd, and Mechel, among others (not in any particular order).
Ferrosilicon Market Leaders
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China Minmetals Corporation
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Eurasian Resources Group
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Ferroglobe
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Mechel
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OM Holdings Ltd
- *Disclaimer: Major Players sorted in no particular order
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Ferrosilicon Market News
- July 2022: Ferroglobe PLC entered a new phase in its silicon metal powder project for batteries and other advanced technologies, reaching a high purity production (up to 99.995%) in micrometer and sub-micrometer size.
- June 2022: Ferroglobe PLC announced a Memorandum of Understanding ('MOU') with REC Silicon. Under the MOU, Ferroglobe commits to leverage its asset platform in the United States to supply high-purity silicon metal to REC Silicon aimed at jointly establishing a low-carbon and fully traceable U.S.-based solar supply chain.
Ferrosilicon Industry Segmentation
An industrial process for making ferrosilicon (FeSi) involves reducing sand or silica in the presence of iron at extremely high temperatures. The ferrosilicon market is segmented into application and geography. Based on application, the market is segmented into metallurgy, semiconductors, photovoltaic solar energy, chemical processing, and other applications. The report also covers the market sizes and forecasts for the ferrosilicon market in 15 countries across the major regions. The market sizing and forecasts have been done for each segment based on volume (Kilotons).
| Application | Metallurgy | ||
| Semiconductors | |||
| Photovoltaic Solar Energy | |||
| Chemical Processing | |||
| Other Applications | |||
| Geography | Asia-Pacific | China | |
| India | |||
| Japan | |||
| South Korea | |||
| Rest of Asia-Pacific | |||
| North America | United States | ||
| Canada | |||
| Mexico | |||
| Europe | Germany | ||
| United Kingdom | |||
| France | |||
| Italy | |||
| Rest of Europe | |||
| South America | Brazil | ||
| Argentina | |||
| Rest of South America | |||
| Middle-East and Africa | Saudi Arabia | ||
| South Africa | |||
| Rest of Middle-East and Africa | |||
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Ferrosilicon Market Research FAQs
What is the current FerroSilicon Market size?
The FerroSilicon Market is projected to register a CAGR of less than 3% during the forecast period (2025-2030)
Who are the key players in FerroSilicon Market?
China Minmetals Corporation, Eurasian Resources Group, Ferroglobe, Mechel and OM Holdings Ltd are the major companies operating in the FerroSilicon Market.
Which is the fastest growing region in FerroSilicon Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in FerroSilicon Market?
In 2025, the Asia Pacific accounts for the largest market share in FerroSilicon Market.
What years does this FerroSilicon Market cover?
The report covers the FerroSilicon Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the FerroSilicon Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Ferrosilicon Industry Report
Statistics for the 2025 FerroSilicon market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. FerroSilicon analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
