New York 10013, United States of America – March 22, 2022 —
Silico Manganese Market Overview
As per the recent study, the global silico- manganese market size in 2019 is registered at USD 17,196 million and is predicted to reach USD 23,996 million with a significant CAGR of 5.71% during the forecast period 2020-2027.
Silicomanganese is a few times called Ferro silicon manganese. It is a ferroalloy made up of manganese, silicon, and iron and is produced by smelting of slag with manganese ore, coke, quartz flux in an arc furnace which is submerged electrically with high temperature. silicon manganese is a mixture of carbon 1-2%, silicon 16-21%, manganese 65-70%, sulfur, and phosphorus. Silicon manganese production requires an energy-intensive process coupled with arc furnaces electrically submerged. This material forms major components which are used in the production of steel. These components are deoxidizers and desulfurizers leading to improve mechanical properties of steel which makes it ideal to use in large-scale industries like the automotive and automobile sectors.
Growing usage of silicomanganese in steel manufacturing and production is propelling the market growth. Rising demand for this material in various large-scale industries like the automobile and the automotive sector is boosting the demand for silicon manganese and further fuels the growth of the market. Increasing usage of steel in the various end-use industries like transportation, building, and construction. Upsurge in the alloying of steel to produce the products or supplements like carbon steel and stainless steel is accelerating the market growth.
The silicomanganese market opportunities are rising usage of steel in various end-use industries like transportation, building, and construction is escalating the market growth
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Key Players
The major market players in the market are
- Eramet Group (France),
- OM Holdings, Ltd (Singapore),
- Brahm Group (India),
- Jindal Steel & Power Ltd, (India),
- Sakura Ferroalloys (Malaysia), and
- others.
Silico Manganese Market Segmentation
The silicomanganese market is categorized into three segments based on the product, application, and end-user.
Product Segmentation: The silicomanganese market products are trifurcated into Low carbon Silico Manganese, Medium-carbon Silico Manganese, and High-carbon Silico Manganese.
Application Segmentation: The silicomanganese market based on the applications is classified into various forms such as dairy equipment, cutlery, automobile bodies, road rails, hand railings, and others.
End-user Segmentation: By end-user, the silicomanganese market is sectioned into automotive, defense, consumer appliances, and construction.
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Regional Classification
Based on the latest report, the silicomanganese market based on region is partitioned into five major regions such as Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.
Out of them, Asia-Pacific is accounting for the largest market share due to the rise in the construction sector, rapid urbanization, rapid industrialization, rise in steel production, and others. Europe is holding the second largest market share due to the surge in households, low rate of interest, single-family dwellings, and mortgage values in this region.
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Recent Development
In April 2021, Spain-based Ferroglobe announced restructuring its ferroalloys production plants in Spain and France, impacting silicon, manganese alloys, and foundry alloys output near term.
In April 2019, OM Materials (Sarawak) a subsidiary of the global Silico Manganese manufacturer i.e. OM Holdings Ltd. opened a sinter plant with an opening investment amount of 5.4 million US dollars that can increase the production capacity of manganese alloy’s by a minimum capacity of 250 kilotons in a year.
In 2018, two 81 MVA furnaces were installed in the Sakura’s manganese alloys. This company is situated in Sarawak, Malaysia which enhanced the company’s performance.
Table of Content
1 EXECUTIVE SUMMARY
1.1 GLOBAL SILICO MANGANESE MARKET, BY PRODUCT 16
1.2 GLOBAL SILICO MANGANESE MARKET, BY APPLICATION 17
1.3 GLOBAL SILICO MANGANESE MARKET, BY REGION 18
2 MARKET INTRODUCTION
2.1 DEFINITION 19
2.2 SCOPE OF THE STUDY 19
2.3 MARKET STRUCTURE 20
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS 21
3.2 PRIMARY RESEARCH 22
3.3 SECONDARY RESEARCH 23
3.4 MARKET SIZE ESTIMATION 24
3.5 FORECAST MODEL 25
3.6 LIST OF ASSUMPTIONS 26
4 MARKET DYNAMICS
4.1 INTRODUCTION 27
4.2 DRIVERS 28
4.2.1 HIGH DEMAND FOR SILICO MANGANESE IN THE STEEL INDUSTRY 28
4.2.2 WIDESPREAD USE OF SILICO MANGANESE IN THE CONSTRUCTION INDUSTRY 29
4.2.3 DRIVERS IMPACT ANALYSIS 31
4.3 RESTRAINTS 31
4.3.1 HIGH PRODUCTION COST AND RAW MATERIAL PRICE FLUCTUATIONS 31
4.4 OPPORTUNITIES 32
4.4.1 INCREASED DEMAND FOR SILICO MANGANESE IN EMERGING ECONOMIES 32
5 MARKET FACTOR ANALYSIS
5.1 SUPPLY CHAIN ANALYSIS 34
5.1.1 RAW MATERIALS SUPPLIERS 35
5.1.2 SILICO MANGANESE MANUFACTURERS 35
5.1.3 DISTRIBUTION CHANNELS 35
5.1.4 END USERS 35
5.2 PORTER’S FIVE FORCES MODEL 36
5.2.1 THREAT OF NEW ENTRANTS 37
5.2.2 THREAT OF SUBSTITUTES 37
5.2.3 BARGAINING POWER OF SUPPLIERS 37
5.2.4 BARGAINING POWER OF BUYERS 37
5.2.5 INTENSITY OF RIVALRY 37
5.3 IMPORT EXPORT ANALYSIS 38
5.3.1 GLOBAL SILICO MANGANESE MARKET, IMPORT-EXPORT ANALYSIS 2020 38
5.3.2 GLOBAL SILICO MANGANESE MARKET, PRODUCTION ANALYSIS 2020 39
5.3.3 GLOBAL SILICO MANGANESE MARKET, PRICING ANALYSIS 39
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