Ferrosilicon Market Size Worth $13.7 Billion By 2030
Ferrosilicon Industry Overview The global ferrosilicon market size is expected to reach USD 13.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 2.4% from 2022 to 2030. Rising demand for ferrosilicon in the steel and cast iron industries is anticipated to contribute to market growth over the forecast period. Ferrosilicon is used as a deoxidizer in the steel industry to prevent the loss of carbon during the production process. As a result, rising investment in the steel industry is anticipated to augment the market growth. For instance, in January 2022, POSCO commenced construction of a new galvanized steel plant in Tangshan, Hebei, China, which is jointly owned by HBIS Group. Ferrosilicon Market Segmentation Grand View Research has segmented the global ferrosilicon market on the basis of application, end-use, and region: Based on the End-use Insights, the market is segmented into Carbon ...