The
iron & steel mills and ferroalloy
manufacturing includes companies processing activities associated to
reduction of iron ore, transforming pig iron into steel, and producing of
molten or the solid pig iron, steel, steel and forming pipe & tube, electro
metallurgical ferroalloys. Ferroalloys include pure elements and iron-rich
alloys primarily added while manufacturing steel for improving or altering
characteristics of metal. Some of the key elements for instance silicon and
manganese for carbon steel and chromium, vanadium, tungsten, titanium, and
molybdenum for low- and high-alloy metals are added while processing in iron &
steel mills.
According
to study, “Iron And Steel Mills And
Ferroalloy Manufacturing Global Market Report 2019” the key companies operating in the global iron and steel
mills and ferroalloy manufacturing market are Arcelor Mittal SA, JFE
Engineering Corporation, China BaoWu Steel Group Corporation Limited, POSCO,
Nippon Steel & Sumitomo Metal Corp, Ferro Alloys Corporation Limited,
Nikopol Ferroalloy Plant, Eurasian Natural Resources Corporation PLC, S.C.
Feral S.R.L., Georgian American Alloys, Inc., Jindal Group, China Minmetals
Corporation, Shanghai Shenjia Ferroalloys Co. Ltd., Tata Steel Limited – Ferro
Alloys & Minerals Division. The iron and steel mills and ferroalloy
manufacturing companies carry out activities associated to reduction of iron
ore transforming of pig iron into steel and producing molten or solid pig iron
steel forming pipe and tube electro metallurgical ferroalloys and steel and
manufacturing shapes such as bar, plate, rod, sheet, strip and wire.
There
have been a gradual shift of global steelmakers from blast furnace to electric
arc furnace (EAF)for manufacturing steel. EAF process requires less investment
and offers higher efficiency as compared to blast furnace. The use of EAF
enables steelmakers for producing steel by using 100% scrap metal feedstock, and
thereby decreasing overall energy consumed for producing steel as compared to
steel made from ores. To capitalize, steel manufacturers are now replacing
blast furnaces with EAFs in steel plants.
Based
on type, market is segmented into pig iron, crude steel and ferroalloys. Ferroalloys
are further sub-segmented into ferrochrome, ferromanganese, ferrosilicon and
other alloys. In addition, based on application, market is segmented into iron
& steel mills, ferroalloy companies and others.
The
market is driven by increase in new vehicle sales, followed by growth in population and rise
in disposable income. However, rise in workforce issues and increase in
interest rate may impact the market. Moreover, Proliferation of Large, Medium
and Small Scale Industries is a key opportunity for market.
Based
on geography, Iron & Steel Mills and ferroalloy manufacturing market
includes North America, South America, Asia-Pacific, Eastern Europe, Western
Europe, Middle East and Africa. Among these Asia-Pacific market accounts the
largest share owing to presence of a large number of manufacturing companies in
the region. Whereas, the North-American and European regions are estimated to
exhibit considerable growth rate due to high demand from the construction
industry over the forecast period. Moreover, with rise in economic outlook, and
improved earning capacity, substantial demand from emerging markets adding to
significant market scope and potential for global iron & steel mills and
ferroalloy manufacturing market expected to significantly rise the market
demand expected to increase substantially over the forecast period.
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Ankur Gupta, Head Marketing & Communications
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