The global ferroalloy market has witnessed an immense surge in its valuation over the last few years. The rapid development in the construction industry across the globe has propelled the demand for various iron alloys, specifically steel, to a great extent. The infrastructural development in BRICS has also triggered the demand for ferroalloy significantly.
A research report, published by Transparency Market Research, estimates that the worldwide ferroalloy market will register a CAGR of 5.40% between 2014 and 2020, reaching US$54 bn by 2020 from a value of US$37 bn in 2013.
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Overall, the worldwide ferroalloy market is reporting remarkable growth at present. However, the high cost of ferroalloys are restricting the rise of this market to a significant level. Additionally, various strict regulations to limit the production of ferroalloys are likely to hamper the market’s growth in the coming years.
The global ferroalloy market is highly fragmented and competitive in nature. From mergers, acquisitions, and partnerships to the development of innovative products, market participants are focusing on a wide range of activities for the expansion of their businesses.
Sakura Ferroalloys Plans to Export in Asian Markets
In February 2015, Sakura Ferroalloys, a Malaysian startup engaged in silicomanganese and ferromanganese production, has announced that it plans to export its iron alloys to Asian markets, specifically to India, Taiwan, and Japan.
The company recently unveiled its ferroalloy plant in Bintulu-based Samalaju Industrial Park. The unit was commissioned in October 2015 and the production of ferroalloys has been scheduled to commence properly from July 2016. The facility boasts a capacity of 170,000 mn tons of high-carbon ferromanganese and silicomanganese per annum. The company expects the unit to surpass this capacity in the forthcoming years and attain a production capacity of 67,000 mn tons of silicomanganese and107,000 mn tons of high-carbon ferromanganese per annum.
Sakura Ferroalloys is a collaborative venture between Japan-based Sumitomo Corp., South Africa-based Assmang, and Taiwan-based China Steel Corp.
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Tata Steel Gains Approval for a US$27 mn Project
Leading Indian ferroalloy manufacturer, Tata Steel Ltd., has recently gained an approval for a US$27.7 mn project. The firm would be constructing two new units at its ferroalloy plant in Joda, Odisha under this project. This expansion is likely to increase the capacity of the Joda-based plant, which is 0.05 mn tons p.a. at present, to 0.06 mn tons p.a. in the coming years.
The company expects to address the increasing demand for steel in India, which is projected to reach 193 mn tons p.a. by 2020, with the expansion of its ferroalloys production capacity.
Shanghai Shenjia Ferroalloys Co. Ltd., OM Holdings Ltd., Sinosteel Jilin Ferroalloy Corp. Ltd., China Minmetals Corp., Nikopol Ferroalloy Plant, Ferro Alloys Corp. Ltd., Georgian American Alloys Inc., S.C. Feral S.R.L., and Eurasian Natural Resources Corp. Plc. are some other major participants operating in the global ferroalloy market.
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