Asia Pacific Ferroalloys Market Forecast to 2031 - Regional Analysis - by Type (Ferrochrome, Ferromanganese, Ferro Silico Manganese, Special Alloys, and Others) and Application (Steel Making, Wire Manufacturing, Welding Electrodes, Superalloys, and Others)
The Asia Pacific ferroalloys market was valued at US$ 110.13 billion in 2023 and is expected to reach US$ 203.89 billion by 2031; it is estimated to register a CAGR of 8.0% from 2023 to 2031.
Growth in Global Aerospace & Defense Industry Boosts Asia Pacific Ferroalloys Market
The aerospace industry is experiencing significant growth in technological advancements. In the industry, there is a rise in innovative ferroalloy applications, as ferroalloys contribute to fuel efficiency by reducing the overall aircraft weight and improving safety and reliability. The pursuit of sustainable transportation solutions and electrification in the aerospace industry has gained momentum. The utilization of ferroalloys in the production of lightweight, high-capacity batteries for electric aircraft aligns with the global transition toward green aviation
The growing need for sophisticated infrastructure and government initiatives is expected to propel the Indian aerospace and defense market, which is expected to reach over US$ 70 billion by 2030. Furthermore, India has increased its defense budget by US$ 75 billion in 2024. The Defense Services Estimates (DSE) of the Ministry of Defense cover the costs of the three-armed forces as well as the Defense Research and Development Organization (DRDO) and total Rs. US$ 46.2 billion. Moreover, to promote domestic manufacturing and industry growth, the government is implementing several initiatives. The government launched Aero India 2021 in October 2020 with the goal of ranking India among the top five nations in the world for aerospace and defense industries, with both the public and private sectors actively participating. Additionally, the aerospace & defense manufacturing industry in China ranks among the top in the world.
Thus, the growth in the global aerospace & defense industry is expected to create lucrative opportunities for the ferroalloys market expansion during the forecast period.
Asia Pacific Ferroalloys Market Overview
The region's extensive steel manufacturing industry drives substantial demand for ferroalloys, particularly ferrochrome, ferromanganese, and ferrosilicon, which are major raw materials in the steel-making industry. India boasts a strong steel industry fueled by infrastructure development, automotive manufacturing, and construction activities. Additionally, the emerging role of China and India as a global hub for electric vehicle manufacturing is expected to drive demand for ferrosilicon to produce specialty steel used in automotive production. According to the International Organization of Motor Vehicle Manufacturers report, motor vehicle production in Asia Pacific was estimated to be 48.96 million units in 2022. As battery technology continues to improve, Asia Pacific is expected to become a key hub for electric vehicle production. China has emerged as one of the largest electric vehicle markets globally, supported by government policies promoting electric vehicles. As per the International Trade Administration, total investments in China's infrastructure during the 14th Five-Year Plan period (2021-2025) are estimated to reach ~US$ 4.2 trillion. According to the National Investment Promotion & Facilitation Agency, India allocated an investment budget of US$ 1.4 trillion in infrastructure under the National Infrastructure Pipeline by 2025, of which 18% accounted for roads and highways, 17% accounted for urban infrastructure, and 12% for railways. Ferroalloys are used in the production of reinforced concrete structures. Reinforced concrete is composed of steel bars embedded in concrete structures. It offers exceptional strength and structural integrity, making it the preferred choice for constructing buildings, bridges, dams, and other infrastructure projects. Ferroalloys such as ferromanganese and ferrosilicon are added to steel during the manufacturing process to enhance its tensile strength and resistance to corrosion. Therefore, the growth in the steel, automotive, and construction industries boosts the ferroalloys market growth.
Asia Pacific Ferroalloys Market Revenue and Forecast to 2031 (US$ Billion)
Asia Pacific Ferroalloys Market Segmentation
The Asia Pacific ferroalloys market is categorized into type, application, and country.
Based on type, the Asia Pacific ferroalloys market is segmented into ferrochrome, ferromanganese, ferro silico manganese, special alloys, and others. The ferro silico manganese segment held the largest market share in 2023.
In terms of application, the Asia Pacific ferroalloys market is categorized into steel making, wire manufacturing, welding electrodes, superalloys, and others. The steel making segment held the largest market share in 2023.
By country, the Asia Pacific ferroalloys market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific ferroalloys market share in 2023.
Glencore Plc, Jindal Stainless Ltd, Ferro Alloys Corp Ltd (FACOR), Erdos Group, Pertama Ferroalloys Sdn Bhd, Brahm Group, Tata Steel Ltd, and Nava Ltd, are some of the leading companies operating in the Asia Pacific ferroalloys market.
TABLE OF CONTENTS
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Asia Pacific Ferroalloys Market Landscape
4.1 Overview
4.2 Porters Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Ferroalloys Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End-Use Industry
5. Asia Pacific Ferroalloys Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Ferroalloys in Automotive Industry
5.1.2 Rise in Infrastructure Development Investments by Government Bodies
5.2 Market Restraints
5.2.1 Fluctuations in Raw Material Prices
5.3 Market Opportunities
5.3.1 Growth in Global Aerospace & Defense Industry
5.4 Future Trends
5.4.1 Growing Adoption of Superalloys
5.5 Impact of Drivers and Restraints:
6. Ferroalloys Market - Asia Pacific Analysis
6.1 Asia Pacific Ferroalloys Market Overview
6.2 Ferroalloys Market Volume (Thousand Tons), 2020-2031
6.3 Ferroalloys Market Volume Forecast and Analysis (Thousand Tons)
6.4 Ferroalloys Market Revenue (US$ Billion), 2020-2031
6.5 Ferroalloys Market Forecast and Analysis
7. Asia Pacific Ferroalloys Market Volume and Revenue Analysis - by Type
7.1 Ferrochrome
7.1.1 Overview
7.1.2 Ferrochrome: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
7.1.3 Ferrochrome: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
7.2 Ferromanganese
7.2.1 Overview
7.2.2 Ferromanganese: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
7.2.3 Ferromanganese: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
7.3 Ferro Silico Manganese
7.3.1 Overview
7.3.2 Ferro Silico Manganese: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
7.3.3 Ferro Silico Manganese: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
7.4 Special Alloys
7.4.1 Overview
7.4.2 Special Alloys: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
7.4.3 Special Alloys: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
7.5 Others
7.5.1 Overview
7.5.2 Others: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
7.5.3 Others: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
8. Asia Pacific Ferroalloys Market Revenue Analysis - by Application
8.1 Steel Making
8.1.1 Overview
8.1.2 Steel Making: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
8.2 Wire Manufacturing
8.2.1 Overview
8.2.2 Wire Manufacturing: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
8.3 Welding Electrodes
8.3.1 Overview
8.3.2 Welding Electrodes: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
8.4 Superalloys
8.4.1 Overview
8.4.2 Superalloys: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
8.5 Others
8.5.1 Overview
8.5.2 Others: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9. Asia Pacific Ferroalloys Market - Country Analysis
9.1 Asia Pacific Market Overview
9.1.1 Asia Pacific Ferroalloys Market Breakdown, by Key Country, 2023 and 2031 (%)
9.1.1.1 Asia Pacific Ferroalloys Market Volume and Forecast and Analysis - by Country
9.1.1.2 Asia Pacific Ferroalloys Market Revenue and Forecast and Analysis -by Country
9.1.1.3 Australia Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.3.1 Australia Ferroalloys Market Breakdown by Type
9.1.1.3.2 Australia Ferroalloys Market Breakdown by Application
9.1.1.4 China Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.4.1 China Ferroalloys Market Breakdown by Type
9.1.1.4.2 China Ferroalloys Market Breakdown by Application
9.1.1.5 India Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.5.1 India Ferroalloys Market Breakdown by Type
9.1.1.5.2 India Ferroalloys Market Breakdown by Application
9.1.1.6 Japan Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.6.1 Japan Ferroalloys Market Breakdown by Type
9.1.1.6.2 Japan Ferroalloys Market Breakdown by Application
9.1.1.7 South Korea Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.7.1 South Korea Ferroalloys Market Breakdown by Type
9.1.1.7.2 South Korea Ferroalloys Market Breakdown by Application
9.1.1.8 Rest of APAC Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
9.1.1.8.1 Rest of APAC Ferroalloys Market Breakdown by Type
9.1.1.8.2 Rest of APAC Ferroalloys Market Breakdown by Application
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Mergers and Acquisitions
11.3 Expansion
11.4 Partnerships and Collaborations
12. Company Profiles
12.1 Glencore Plc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Jindal Stainless Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Ferro Alloys Corporation Limited (FACOR)
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Erdos Group
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Pertama Ferroalloys Sdn Bhd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Brahm Group
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Tata Steel Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Nava Limited
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
List of Tables
Table 1. Asia Pacific Ferroalloys Market Segmentation
Table 2. Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
Table 3. Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Table 4. Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons) - by Type
Table 5. Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Type
Table 6. Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Application
Table 7. Asia Pacific Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons) - by Country
Table 8. Asia Pacific Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Country
Table 9. Australia Ferroalloys Market -Volume and Forecast to 2031 (Thousand Tons) - by Type
Table 10. Australia Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Type
Table 11. Australia Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Application
Table 12. China Ferroalloys Market -Volume and Forecast to 2031 (Thousand Tons) - by Type
Table 13. China Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Type
Table 14. China Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Application
Table 15. India Ferroalloys Market -Volume and Forecast to 2031 (Thousand Tons) - by Type
Table 16. India Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Type
Table 17. India Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Application
Table 18. Japan Ferroalloys Market -Volume and Forecast to 2031 (Thousand Tons) - by Type
Table 19. Japan Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Type
Table 20. Japan Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Application
Table 21. South Korea Ferroalloys Market -Volume and Forecast to 2031 (Thousand Tons) - by Type
Table 22. South Korea Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Type
Table 23. South Korea Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Application
Table 24. Rest of APAC Ferroalloys Market -Volume and Forecast to 2031 (Thousand Tons) - by Type
Table 25. Rest of APAC Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Type
Table 26. Rest of APAC Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion) - by Application
List of Figures
Figure 1. Asia Pacific Ferroalloys Market Segmentation, by Country
Figure 2. Ferroalloys Market Porter's Analysis
Figure 3. Ecosystem: Ferroalloys Market
Figure 4. Ferroalloys Market Key Market Dynamics
Figure 5. Global Electric Car Sales (2016-2023)
Figure 6. Fluctuations in Iron Ore Prices from January 2019 to April 2023
Figure 7. Impact Analysis of Drivers and Restraints
Figure 8. Ferroalloys Market Volume (Thousand Tons), 2020-2031
Figure 9. Ferroalloys Market Revenue (US$ Billion), 2020-2031
Figure 10. Ferroalloys Market Share (%) - Type, 2023 and 2031
Figure 11. Ferrochrome: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
Figure 12. Ferrochrome: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 13. Ferromanganese: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
Figure 14. Ferromanganese: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 15. Ferro Silico Manganese: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
Figure 16. Ferro Silico Manganese: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 17. Special Alloys: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
Figure 18. Special Alloys: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 19. Others: Ferroalloys Market - Volume and Forecast to 2031 (Thousand Tons)
Figure 20. Others: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 21. Ferroalloys Market Share (%) - Application, 2023 and 2031
Figure 22. Steel Making: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 23. Wire Manufacturing: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 24. Welding Electrodes: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 25. Superalloys: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 26. Others: Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 27. Asia Pacific Ferroalloys Market, by Key Country - Revenue (2023) (US$ Billion)
Figure 28. Asia Pacific Ferroalloys Market Breakdown, by Key Countries, 2023 and 2031 (%)
Figure 29. Australia Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 30. China Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 31. India Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 32. Japan Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 33. South Korea Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 34. Rest of APAC Ferroalloys Market - Revenue and Forecast to 2031 (US$ Billion)
Figure 35. Heat Map Analysis by Key Players
Figure 36. Company Positioning & Concentration
- Glencore Plc
- Jindal Stainless Ltd
- Ferro Alloys Corp Ltd (FACOR)
- Erdos Group
- Pertama Ferroalloys Sdn Bhd
- Brahm Group
- Tata Steel Ltd
- Nava Ltd
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific ferroalloys market.
- Highlights key business priorities to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Asia Pacific ferroalloys market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the Asia Pacific ferroalloys market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.