IMARC Group은 2024년 세계 페로실리콘 시장 규모가 125억 달러에 달했으며, 2025-2033년 연평균 2.08%의 성장률(CAGR)을 기록하여 2033년에는 152억 달러에 이를 것으로 예측했습니다. 다양한 산업에서 철강 및 파생상품에 대한 수요 증가, 여러 전자제품 제조에서 반도체 채택 증가, 인프라 구축 프로젝트 증가 등이 시장을 주도하는 주요 요인으로 꼽힙니다.
페로실리콘은 철과 실리콘을 주성분으로 하는 합금으로, 특정 용도에 따라 이들 원소의 농도가 다릅니다. 용융 금속의 산소 함량을 감소시켜 불순물을 최소화하고 원하는 재료 특성을 달성하는 데 중요한 역할을 할 수 있습니다. 강도, 내구성, 내열성을 향상시켜 철과 강철의 특성을 향상시키는 데 도움이 됩니다. 철강 생산에서 탈산제 및 합금제로 야금 산업에서 널리 사용되기 때문에 페로실리콘 수요는 전 세계적으로 증가하고 있습니다.
현재 전 세계 대중들 사이에서 전기자동차(EV)의 채택이 증가하고 있으며, 이는 시장 성장을 강화하고 있습니다. 이와 더불어, 자동차 산업에서 성능 향상을 위한 경량 및 고강도 소재에 대한 수요가 증가하면서 시장 전망을 밝게 하고 있습니다. 또한, 풍력 터빈 부품 및 태양전지판 제조에 내구성과 내식성이 우수한 재료의 채택이 증가하고 있는 것도 시장 성장을 가속하고 있습니다. 또한, 항공우주 산업을 위한 특수 합금에 대한 수요가 증가하고 있는 것도 시장 성장에 기여하고 있습니다. 이와는 별도로 효율적인 건축자재에 대한 수요가 증가함에 따라 업계 투자자들에게 유리한 성장 기회를 제공합니다. 또한, 환경의 이산화탄소 배출을 줄이기 위한 친환경 소재에 대한 시장 개발이 증가함에 따라 시장 성장을 가속하고 있습니다.
철강 및 그 파생상품 수요 증가
건설, 인프라, 자동차 산업에서 철강 및 그 파생상품에 대한 수요가 증가하면서 시장 성장에 기여하고 있습니다. 이에 따라 페로실리콘은 철강 생산의 주요 합금화제로서 재료의 강도, 내구성 및 내열성을 향상시킵니다. 이와 더불어, 자동차 분야에서 자동차의 성능을 향상시키기 위해 이 합금의 채택이 증가하고 있으며, 이는 시장 성장을 가속하고 있습니다. 한편,이 합금은 전 세계적으로 건설 목적으로 널리 사용되고 있습니다. 또한, 페로실리콘은 철강 제조 공정의 주요 부품이기 때문에 수요가 증가하고 있습니다.
반도체 채용 증가
페로실리콘은 반도체 제조의 기초 재료인 고품질 실리콘 제조에 중요한 역할을 합니다. 반도체는 현대 기술 발전에 필수적인 특정 조건 하에서 전기를 통하게 할 수 있습니다. 또한 전자, 통신, 자동차, 의료 산업에서 널리 사용되고 있습니다. 이와는 별도로 스마트폰, 컴퓨터, 사물인터넷(IoT) 기기 등 전자기기의 채택이 증가하고 있는 것도 시장 성장에 기여하고 있습니다. 또한, 반도체는 이러한 기기에서 데이터 처리 및 저장부터 통신 및 자동화까지 다양한 기능을 구현합니다. 소형화 등 반도체 제조의 끊임없는 기술 혁신이 시장 전망을 밝게 하고 있습니다.
인프라 개발 프로젝트 증가
건설 활동과 인프라 개발 프로젝트 증가가 시장 성장을 뒷받침하고 있습니다. 이에 따라 신흥 경제국에서는 급속한 도시화로 인해 인프라 개발 프로젝트가 증가하고 있습니다. 스마트 시티 개발에 대한 관심이 높아지고 있는 것도 시장 성장에 기여하고 있습니다. 이 외에도 각국의 정부 기관은 현대식 교통망, 에너지 시설, 상업 공간 건설에 투자하고 있으며, 이는 시장에 긍정적인 영향을 미치고 있습니다. 이러한 개발은 전 세계적으로 엄청난 양의 철강을 필요로 합니다. 또한, 연결성 강화, 교통량 감소, 에너지 효율 개선, 삶의 질 향상에 대한 관심도 증가하고 있습니다.
The global ferrosilicon market size reached USD 12.5 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 15.2 Billion by 2033, exhibiting a growth rate (CAGR) of 2.08% during 2025-2033. The growing demand for steel and derivatives in various industries, rising adoption of semiconductors for producing several electronic devices, and increasing number of infrastructure development projects are some of the major factors propelling the market.
Ferrosilicon is an alloy that is primarily composed of iron and silicon, with varying concentrations of these elements depending on the specific application. It can reduce the oxygen content in molten metal and plays a crucial role in minimizing impurities and achieving desired material characteristics. It assists in enhancing the properties of iron and steel by improving their strength, durability, and heat resistance. As it is widely utilized in the metallurgical industry as a deoxidizer and alloying agent in the production of iron and steel, the demand for ferrosilicon is increasing worldwide.
At present, the rising adoption of electric vehicles (EVs) among the masses across the globe is strengthening the market growth. Besides this, the growing demand for lightweight and high-strength materials for improved performance in the automotive industry is offering a positive market outlook. In addition, the increasing adoption of durable and corrosion-resistant materials for manufacturing wind turbine components and solar panels is bolstering the growth of the market. Moreover, the rising demand to create specialty alloys for the aerospace industry is contributing to the growth of the market. Apart from this, the increasing need for efficient construction materials is offering lucrative growth opportunities to industry investors. Furthermore, the rising development of eco-friendly materials to reduce carbon footprint in the environment is propelling the growth of the market.
Rising demand for steel and derivatives
The rising demand for steel and its derivatives in the construction, infrastructure, and automotive industries is contributing to the growth of the market. In line with this, ferrosilicon is a key alloying agent in steel production that enhances the strength, durability, and resistance to the heat of the material. Besides this, the rising adoption of this alloy in the automotive sector to enhance the performance of vehicles is bolstering the growth of the market. On the other hand, it is widely utilized for construction purposes around the world. Furthermore, there is an increase in the demand for ferrosilicon, as it is a key component in the steel manufacturing process.
Increasing adoption of semiconductors
Ferrosilicon plays a crucial role in the production of high-quality silicon, which is a fundamental material used in semiconductor manufacturing. Semiconductors can conduct electricity under certain conditions that are essential in modern technological advancements. In addition, they are widely utilized in electronics, telecommunications, automotive, and healthcare industries. Apart from this, the rising adoption of electronic devices, such as smartphones, computers, and the Internet of Things (IoT) devices, is contributing to the growth of the market. Furthermore, semiconductors enable functionalities ranging from data processing and storage to communication and automation in these devices. Continuous innovations in semiconductor manufacturing, such as miniaturization, are offering a positive market outlook.
Growing number of infrastructure development projects
The rising number of construction activities and infrastructure development projects is supporting the growth of the market. In line with this, emerging economies are witnessing a rise in infrastructure development projects due to rapid urbanization. The growing focus on smart city development is contributing to the growth of the market. Besides this, governing agencies of various countries are investing in building modern transportation networks, energy facilities, and commercial spaces, which is positively influencing the market. These developments require huge amounts of steel around the world. Furthermore, there is a rise in the focus on enhanced connectivity, reduced transportation traffic, increased energy efficiency, and better quality of life.
Atomized ferrosilicon is produced through a process that involves rapidly cooling molten ferrosilicon by spraying it with water or another cooling medium. This results in the formation of fine, spherical particles. It is known for its uniform composition, size, and shape, which makes it highly desirable in various applications. It is particularly utilized to produce dense media separation for mineral processing and heavy media separation in the coal industry. It has consistent particle size distribution, which makes it suitable for use in welding consumables and as a raw material in the manufacturing of certain alloys.
Milled ferrosilicon is produced by crushing and grinding these larger alloy pieces into smaller, granular particles. It is generally utilized in applications where precise control over particle size distribution is not critical. Besides this, it is commonly used as a medium in dense media separation processes, especially in diamond processing and mining operations. It is also employed in steelmaking to control the chemical composition of the molten metal, as its particle size distribution can impact alloy dissolution rates.
Deoxidizer accounts for the majority of the market share
Deoxidizer plays an essential role in the production of high-quality steels, where precise control over the composition and characteristics of the steel is essential. In line with this, various industries, such as automotive, construction, and aerospace, rely on deoxidized steel to meet stringent performance and safety requirements. Apart from this, it can effectively remove oxygen from molten metal positions and is used as a critical component for the production of superior-grade steel materials.
Carbon and other alloy steel the market share
Asia Pacific exhibits a clear dominance, accounting for the largest ferrosilicon market share
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.
Asia Pacific held the biggest market share as it is one of the largest steel-producing regions. In line with this, the rising number of vehicles in the region is bolstering the growth of the market. Apart from this, the increasing adoption of ferrosilicon in the electronic industry is contributing to the growth of the market. In addition, technological advancements in the metallurgy sector are supporting the growth of the market in the Asia Pacific region.
Major players are investing in research and development (R&D) activities to enhance the quality and performance of these products. They are exploring innovative production techniques, refining alloy compositions, and developing specialized grades to cater to specific industry needs. In addition, companies are adopting advanced technologies, such as automation, data analytics, and process optimization, in manufacturing processes to improve production efficiency, reduce energy consumption, and minimize environmental impact. Besides this, they are offering tailored solutions to cater to the specific requirements of different industries. Moreover, they are developing customized alloy compositions and particle sizes to meet diverse customer demands. Furthermore, key players are ensuring consistent quality and implementing stringent quality control measures throughout the production process to meet industry standards.
In July 2022, Ferroglobe PLC, one of the world's leading producers of silicon metal and silicon and manganese-based ferroalloys, entered a new phase in its silicon metal powder project for batteries and other advanced technologies, reaching a high purity production (up to 99.995%), in micrometer and sub-micrometer size.
In April 2020, Mechel PAO, one of the leading Russian mining and metals companies, launched an upgraded furnace at Bratsk Ferroalloy Plant. The upgrade boosted the ferroalloy ore-smelting furnace's capacity from 25 MVA to 33 MVA.
In July 2022, OM Holdings smelting plant in Sarawak's Samalaju Industrial Park has recorded higher production volume in Q2 for ferrosilicon, manganese alloys, and manganese sinter ore.