Ferrosilicon Market Growing at CAGR of 2.70% During The Forecast Period
Global Ferrosilicon Market size was valued at USD 11.09 Billion in 2023 and is expected to reach USD 15.08 Billion by 2032, at a CAGR of 2.7% during the forecast period 2024-2033. Ferrosilicon Market – Overview Ferrosilicon is an alloy used for the manufacture of silicon, corrosion-resistant and high-temperature-resistant ferrous silicon alloys, and silicon steel for electro motors and transformer cores. In the manufacture of cast iron, ferrosilicon is used for inoculation of the iron to accelerate graphitization. Various factors such as the increasing usage of ferrosilicon in steel production, and growing automotive production across the globe are driving the growth of the ferrosilicon market. Rising investment in infrastructural projects in emerging economies such as China, India, Indonesia, Brazil, South Africa, etc. is creating the steel demand, which in turn drives the demand for ferrosilicon. Furthermore, growing automotive production across the globe is also enh...