PUBLISHER: Grand View Research | PRODUCT CODE: 1268793
PUBLISHER: Grand View Research | PRODUCT CODE: 1268793
India Ferrosilicon Market Size, Share & Trends Analysis Report By End-use (Carbon & Other Alloy Steel, Cast Iron, Electric Steel), By Application (Deoxidizer, Inoculant), And Segment Forecasts, 2023 - 2030
India Ferrosilicon Market Growth & Trends:
The India ferrosilicon market size is expected to reach USD 512.8 million by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 5.0% over the forecast period. Positive government policies to boost steel production is anticipated to augment the demand for Ferrosilicon (FeSi) in the country.For instance, in 2017, the government of India approved the National Steel Policy (NSP) 2017. The policy set a target to have a crude steel capacity of 300 million tons and seeks to rise the per capita steel consumption to 160 kg by 2030.The product is used as a deoxidizer in steel manufacturing. Thus, rising demand for steel is expected to propel the consumption of FeSi.
Based on application, the inoculant segment is expected to grow at a steady CAGR, in terms of volume, over the forecast period. Inoculant is used widely in cast iron manufacturing and its growing demand in various industries, such as energy, railways, and pipes, is propelling the product consumption. For instance, in February 2023, the Indian government announced a project for South Central Railways. The region received a sanction amount of INR 13,786 crore (USD 1,665.4 million), of which INR 4,418 crore (USD 533.7 million) is for rail projects in Telangana. This type of upgradation and investment in railway is anticipated to propel the use of cast iron over the forecast period. Based on end-use, the electric segment is expected to register significant growth over the forecast period.
Electric steel reduces core losses in motors used in electric vehicles (EVs) and thus improves their performance. Owing to this rising investment in EV manufacturing the consumption of FeSi will increase over the forecast period. For instance, in Feb 2023, Ola Electric signed an MOU with the Tamil Nadu government to set up an electric vehicle hub. According to the agreement, this EV hub is anticipated to include an advanced EV and cell manufacturing facility. The company is expected to invest around INR 7,600 crore (USD 918.1 million) for the same. Market participants are expanding their production capacity to stay ahead of their competition. For instance, in 2022, Berry Alloys Ltd. completed the expansion of its ferroalloy unit by installing a 2 x 12MVA Furnace and a 4 x 7.5MVA Furnace. The total production capacity of ferroalloys increased to 2,96,000 TPA.
India Ferrosilicon Market Report Highlights:
- Due to the Russia - Ukraine war, the prices of various commodities increased, which impacted the production activities in India in the first half of 2022. For instance, according to the Institute of Indian Foundrymen, despite the growing demand for foundries in India, Kolhapur, Belgaum, and Rajkot, their foundry production reduced by 50%. This affected the demand for ferrosilicon in the country
- Due to the increasing production of steel, the deoxidizer segment held the largest revenue share in 2022 and is anticipated to continue growing over the forecast period
- Based on region, South India is expected to register a significant growth rate over the forecast period. The governments in the region are trying to boost the manufacturing sector in their states, which is expected to increase the consumption of steel and cast iron in the region
- Based on end-uses, the stainless-steel segment held the largest revenue share in 2022. The consumption of FeSi in the stainless-steel industry is around 5 to 10 times higher than that of regular carbon steel. Therefore, the overall growth of the segment is expected to have a positive effect on the industry growth over the forecast period
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Data Analysis Models
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Global Ferrosilicon Market
- 3.2. Industry Value Chain Analysis
- 3.2.1. Raw Material Trends
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunity Analysis
- 3.5.4. Market Challenges
- 3.6. Porter's Five Forces Analysis
- 3.6.1. Bargaining Power of Suppliers
- 3.6.2. Bargaining Power of Buyers
- 3.6.3. Threat of Substitution
- 3.6.4. Threat of New Entrants
- 3.6.5. Competitive Rivalry
- 3.7. PESTLE Analysis
- 3.7.1. Political
- 3.7.2. Economic
- 3.7.3. Social Landscape
- 3.7.4. Technology
- 3.7.5. Environmental
- 3.7.6. Legal
Chapter 4. India Ferrosilicon Market: Application Estimates & Trend Analysis
- 4.1. India Ferrosilicon Market: Application Movement Analysis, 2022 & 2030
- 4.2. Deoxidizer
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.3. Inoculant
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.4. Other
- 4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. India Ferrosilicon Market: End-use Estimates & Trend Analysis
- 5.1. India Ferrosilicon Market: End-Use Movement Analysis, 2022 & 2030
- 5.2. Carbon & Other Alloy Steel
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.3. Stainless Steel
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Electric Steel
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Cast Iron
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.6. Others
- 5.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. India Ferrosilicon Market: End-use Estimates & Trend Analysis
- 6.1. Krajlic Matrix
- 6.2. Sourcing Best Practice
- 6.3. List of Raw Material Suppliers and Distributors
- 6.4. Raw Material Trend
Chapter 7. India Ferrosilicon Market: Regional Estimates & Trend Analysis
- 7.1. Regional Analysis, 2022 & 2030
- 7.2. India
- 7.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.2. Market estimates and forecasts, by application, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.4. South India
- 7.2.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.4.2. Market estimates and forecasts, application, 2018 - 2030 (Kilotons) (USD Million)
- 7.2.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Ranking
- 8.3. Heat Map Analysis
- 8.4. Vendor Landscape
- 8.4.1. List of other prominent manufacturers
- 8.4.2. List of prospective end-users
- 8.5. Strategy Mapping
- 8.6. Company Profiles/Listing
- 8.6.1. BERRY ALLOYS LIMITED
- 8.6.1.1. Company overview
- 8.6.1.2. Financial performance
- 8.6.1.3. Product benchmarking
- 8.6.2. G K Min Met Alloys Co
- 8.6.2.1. Company overview
- 8.6.2.2. Financial performance
- 8.6.2.3. Product benchmarking
- 8.6.3. Hindustan Alloys Private Limited
- 8.6.3.1. Company overview
- 8.6.3.2. Financial performance
- 8.6.3.3. Product benchmarking
- 8.6.4. Maithan Alloys Ltd.
- 8.6.4.1. Company overview
- 8.6.4.2. Product benchmarking
- 8.6.5. Metallic Ferro Alloys LLP
- 8.6.5.1. Company overview
- 8.6.5.2. Product benchmarking
- 8.6.6. Pioneer Carbide Pvt. Limited
- 8.6.6.1. Company overview
- 8.6.6.2. Product benchmarking
- 8.6.7. Shyam Metalics
- 8.6.7.1. Company overview
- 8.6.7.2. Product benchmarking
- 8.6.8. Rama-Ferro-Alloy
- 8.6.8.1. Company overview
- 8.6.8.2. Product benchmarking
- 8.6.9. Cosmic Ferro Alloys Ltd.
- 8.6.9.1. Company overview
- 8.6.9.2. Product benchmarking
- 8.6.1. BERRY ALLOYS LIMITED
List of Tables
- TABLE 1 India ferrosilicon market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 2 India ferrosilicon market estimates & forecasts, by deoxidizer, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 3 India ferrosilicon market estimates & forecasts, by inoculant, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 4 India ferrosilicon market estimates & forecasts, by other, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 5 India ferrosilicon market estimates & forecasts, by carbon & other alloy steel, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 6 India ferrosilicon market estimates & forecasts, by stainless steel, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 7 India ferrosilicon market estimates & forecasts, by electric steel, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 8 India ferrosilicon market estimates & forecasts, by cast iron, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 9 India ferrosilicon market estimates & forecasts, by others, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 10 India ferrosilicon market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 11 India ferrosilicon market estimates & forecasts, by application, 2018 - 2030 (USD Million)
- TABLE 12 India ferrosilicon market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
- TABLE 13 India ferrosilicon market estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- TABLE 14 India ferrosilicon market estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
- TABLE 15 South India ferrosilicon market estimates & forecasts, 2018 - 2030 (USD Million) (Kilotons)
- TABLE 16 South India ferrosilicon market estimates & forecasts, by application, 2018 - 2030 (USD Million)
- TABLE 17 South. India ferrosilicon market estimates & forecasts, by application, 2018 - 2030 (Kilotons)
- TABLE 18 South India ferrosilicon market estimates & forecasts, by end-use, 2018 - 2030 (USD Million)
- TABLE 19 South India ferrosilicon market estimates & forecasts, by end-use, 2018 - 2030 (Kilotons)
List of Figures
- FIG. 1 Market segmentation
- FIG. 2 Information procurement
- FIG. 3 Data Analysis Models
- FIG. 4 Market Formulation and Validation
- FIG. 5 Market snapshot
- FIG. 6 Segmental outlook - Application & End-Use
- FIG. 7 Competitive Outlook
- FIG. 8 Global Ferrosilicon Market, 2022
- FIG. 9 India ferrosilicon market outlook, 2018 - 2030 (USD Million) (Kilotons)
- FIG. 10 Value chain analysis
- FIG. 11 Market dynamics
- FIG. 12 Porter's Analysis
- FIG. 13 PESTEL Analysis
- FIG. 14 India ferrosilicon market, by application: Key takeaways
- FIG. 15 India ferrosilicon market, by application: Market share, 2022 & 2030
- FIG. 16 India ferrosilicon market, by end-use: Key takeaways
- FIG. 17 India ferrosilicon market, by end-use: Market share, 2022 & 2030
- FIG. 18 India ferrosilicon market: Regional analysis, 2022
- FIG. 19 India ferrosilicon market, by region: Key takeaways
