Market Summary:

The Milled Ferrosilicon Market had a size of USD 4.2 Billion in 2022 and is projected to achieve a value of USD 6.52 Billion by 2032, with a revenue compound annual growth rate (CAGR) of 5% throughout the forecast period. The primary driver behind the market's expansion is the increasing demand for milled ferrosilicon within the Steel and foundry sectors. Milled ferrosilicon plays a crucial role in steel manufacturing, elevating the metal's standards and enhancing its properties such as hardness, strength, and resistance to corrosion.

Furthermore, the rising demand for high-quality steel products across various end-use industries, including automotive, construction, and manufacturing, is expected to boost the need for milled ferrosilicon and expedite market revenue growth.

Additionally, the trend of downsizing in the electronics industry is anticipated to contribute to the growing demand for milled ferrosilicon. As a magneto strictive material, milled ferrosilicon finds applications in various electronic devices like sensors and actuators. Its ability to enhance the performance and sensitivity of these devices is driving increased demand within the electronics industry.

Moreover, consumer awareness of the benefits of renewable energy sources is fostering demand for milled ferrosilicon in the production of solar cells. Milled ferrosilicon is a vital component in improving the efficiency and durability of solar cells. The adoption of solar energy systems in residential, commercial, and industrial sectors is expected to further fuel the demand for milled ferrosilicon and accelerate market revenue growth.

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Strategic Development:

In 2021, DMS Powders entered into a strategic partnership with a leading European steel manufacturer to supply milled ferrosilicon for their heavy media separation process. This partnership aimed to strengthen DMS Powders' presence in the European market and expand its customer base.

In 2020, Exxaro Resources Ltd. announced plans to invest in the expansion of its ferrosilicon production capacity to meet the growing demand from the steel and foundry industries. The company aims to increase its production capacity by 20% over the next three years.

In 2019, JSW Steel Ltd. acquired a majority stake in M & M Alloys, a leading producer of milled ferrosilicon. The acquisition aimed to strengthen JSW Steel's position in the global milled ferrosilicon market and expand its product portfolio.

Milled Ferrosilicon Market Report Scope

Leading Players in the Milled Ferrosilicon Market:

The worldwide milled ferrosilicon market displays a moderate level of consolidation, with a select group of prominent players holding a significant portion of the market share. These leading companies are actively implementing strategies such as mergers and acquisitions, forming strategic partnerships, and introducing new products to both maintain their market positions and broaden their range of offerings.

Among the prominent firms operating within the global milled ferrosilicon market are:

·         DMS Powders

·         READE International Corp.

·         Exxaro Resources Ltd.

·         M & M Alloys

·         Imexsar

·         Anyang Xinchuang Metallurgy Material Co., Ltd.

·         Futong Industry Co., Limited

·         Westbrook Resources Ltd.

·         Allmineral Aufbereitungstechnik GmbH & Co. KG

·         JSW Steel Ltd.

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