Ferrosilicon Market Segmentation:
Application Segment Analysis
The deoxidizer segment is projected to hold the majority of the ferrosilicon market share in 2035. This can be attributed to the rising worldwide demand for steel for various industries including as a deoxidizer in the steel subsector. Based on silicon content, ferrosilicon accounted for nearly 70% of global silicon production in 2021. With the gradual expansion of urban construction ferrosilicon offers deoxidation at a low cost According to statistics, the annual ferrosilicon used for deoxidation accounts for more than 90% of the annual ferrosilicon production. With the development of ferro silicon industry chain, its application as a raw material for deoxidation in the field of steelmaking and smelting production is experiencing a steep rise.
End user Segment Analysis
The stainless-steel segment is expected to garner a significant share. Stainless steel is less prone to dusting, corrosion, or staining after exposure to water. It is used in many household appliances as it is recyclable and easy to sterilize and use, particularly in kitchen sinks, cutlery, and cookware manufacturing, along with medical instruments such as surgical tools. According to the British Stainless Steel Association (BSSA), the global stainless steel production by Q1 2024 was 14.6 million metric tons, registering a CAGR of 5.5%.
Our in-depth analysis of the global market includes the following segments:
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