Silico Manganese Market Trends - Global Industry Analysis, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
Market Highlights
Global Silico Manganese Market Trends is Estimated to Be
Valued at USD 23,500 Million By 2025 and Record a CAGR of over
5% During the Forecast Period.
The global Silico Manganese market is expected to witness a
surging growth in the coming assessment period owing to the increased demand
for Silico Manganese in steel production and the increasing steel production in
the Asia-Pacific region. The growth in the steel industry is attributed to its
widespread usage in diverse end-use industries such as automotive, building
& construction, and railroads. In the automotive industry, Silico Manganese
is used in the production of structural components, engine parts, transmission
components, and others in automotive bodies. The increasing production of automobiles
worldwide is supporting the growth of the global Silico Manganese market.
Furthermore, the Silico Manganese slag produced during the production of steel
is widely used in the construction and railroad applications. Coarse aggregates
manufactured using Silico Manganese slag are used as rail ballast for various
types of railroad tracks, from industrial sidings to high-speed main lines.
Thus, the growth in construction activities globally is fueling the growth of
Silico Manganese market. However, factors such as high production cost and
fluctuations in raw material prices are likely to hinder the growth of the
global Silico Manganese market.
Segmental Analysis
According to MRFR analysis, the global Silico
Manganese Market Trends has been segmented based on
product, application, and region.
Based on product, the global Silico Manganese market has been
segmented into high-carbon Silico Manganese, medium-carbon Silico Manganese,
and low-carbon Silico Manganese. The high carbon Silico Manganese segment
accounted for the largest share of over 50% in the global market in 2018. The
segment is expected to witness a healthy CAGR of 5% in the forecast period owing
to its extensive application in diverse, end-use industries such as automotive,
construction, and consumer appliances. The segment is expected to be valued at
over USD 10,000 million by the end of 2025.
Based on application, the global market has been segmented into
road rails, automobile bodies, cutlery, dairy equipment, hand railings, and
others. Among these, the automotive bodies segment is expected to witness the
fastest growth of CAGR 5.5% during the forecast period owing to the demand for
high strength products in the automotive sector. The growth in this segment is
mainly attributed to the growing automotive production worldwide, around 100
million units were produced in 2018. Furthermore, the automotive bodies segment
holds the largest market share of around 30% in the global market and is
expected to reach a value of over USD 7,000 million by the end of 2025.
Regional Analysis
Geographically, the global Silico Manganese market
Trends has been segmented into North America, Europe, Asia-Pacific, Latin
America, and Middle East & Africa. As per MRFR analysis, the Asia-Pacific
region dominated the global market, accounting for the largest share of around
80% in 2018 and is expected to register a CAGR over 5.5% during the forecast
period. Asia-Pacific is followed by Europe, which accounted for the
second-largest share of around 10% in the global Silico Manganese market in
2018. The North America region is expected to witness moderate growth at around
a CAGR of 4% over the forecast period. Latin America and the Middle East &
Africa markets are also expected to witness significant growth with a CAGR of
around 3% during the forecast period, 2019–2025.
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Key Players
Market Research Future (MRFR) recognizes the following companies
as the Key Players in the Global Silico Manganese Market: Tata
Steel (India), Steel Authority of India Limited (SAIL) (India), Eramet Group
(France), Brahm Group (India), Gulf Ferro Alloys Company (SABAYEK) (Saudi
Arabia), Jindal Steel & Power Ltd. (India), OM Holdings Ltd. (Singapore),
Vipra Ferro Alloys Pvt Ltd. (India), Sakura Ferroalloys (Malaysia), Pertama
Ferroalloys Sdn. Bhd. (Malaysia).
Key Findings of the Study
- The
global Silico Manganese market was valued at
around USD 16,000 million in 2018 and is expected to
register a CAGR of 5% to reach around USD 23,000 million by
the end of 2025.
- By
type, the high-carbon Silico Manganese segment
is estimated to be the largest segment of the global
market, which accounted for around 50% market share
in 2018.
- Based
on application, the automotive bodies segment
held the largest share of around 30% by value in
2018 and is expected to register a CAGR of over 5.5% during the
forecast period.
- The
Asia-Pacific market accounted for the largest
share of around 80% by value in 2018.
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