Global steelmakers are gradually
shifting from blast furnace to Electric Arc Furnace (EAF) to manufacture steel.
EAF requires much lower investment, uses lower chemical reaction and offers
higher efficiency compared to a blast furnace. The use of EAF enables
steelmakers to produce steel from 100% scrap metal feedstock, reducing the
overall energy consumed to produce steel as compared to steel made from ores.
THE
BUSINESS RESEARCH COMPANY VALUED THE FERROALLOYS GLOBAL MARKET AT $44 BILLION IN 2017.
Asia Pacific was the largest
geographic region in the market, accounting for two-third of the global market.
China was the largest country accounting for one-third of the global ferroalloys
market.
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Arcelor
Mittal was the biggest player in the ferroalloys
global market, with revenues exceeding $56 billion in 2016. Arcelor Mittal’s growth strategy aims at
manufacturing lighter steel to keep pace with the increasing demand for lighter
vehicles from automobile manufacturers.
Ferroalloys include high percentage
nonferrous alloying elements such as electrometallurgical, manganese metal,
molybdenum silicon, silicomanganese, and spiegeleisen ferroalloys. These are
used in the production of wires, switches, automotive radiators, water heaters,
refrigerators, metal casting, and various other chemical processing equipment.
Ferroalloys Global Market
Report 2018 is a detailed report giving a unique insight into this market.
The report is priced at $4000 for an individual user. To use across your
office, the price is $6000 and $8000 if you wish to use across a multinational
company.
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