Ferroalloys Market Outlook 2030: Trends, Challenges, and Growth Opportunities
The global ferroalloys market size is anticipated to reach USD 86.72 billion by 2030, growing at a CAGR of 8.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing consumption of steel across key industries has led to steady ferroalloy requirements. Moreover, the government initiatives to provide affordable housing to the masses, the rising number of megacities worldwide, and ongoing industrialization activities are anticipated to contribute to the global demand for steel. This is expected to subsequently drive the growth of the ferroalloys market in the coming years. Increasing use of ferro silico manganese in the electric vehicle (EV) and aerospace industries is anticipated to sustain the global demand for ferroalloys over the forecast period. The ongoing transition of industries to clean energy and the growing interest in green steel have led to research and development activities to produce new grades of stee...