July 06, 2022 10:30 ET | Source: Transparency Market Research Transparency Market Research
Albany, New York, UNITED STATES
Wilmington, Delaware, United States, July 06, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global ferroalloys market is prognosticated to grow at a CAGR of 5.9% during the forecast period from 2022 to 2031, notes a report by Transparency Market Research (TMR). Moreover, the global market for ferroalloys is expected to gain a valuation of more than US$ 266.1 Bn by 2031.
The TMR research report on ferroalloys market offers in-depth analysis of major factors impacting the market growth. Hence, the study provides access to the growth drivers, challenges, growth restraints, and recent developments in ferroalloys market. In addition, it sheds light on key marketing strategy for ferroalloys utilized by leading companies in the market.
Ferroalloys are considered one of the key additives in the steelmaking. In the recent years, ferroalloys are being increasingly utilized in the production of high strength steel. This factor is boosting the sales growth in the global ferroalloys market. Noble alloys and bulk alloys are the two product types available in the global ferroalloys market. Of them, the demand for bulk alloys is being increasing in the iron and steel making industry in order to improve the properties of steel. Moreover, noble ferroalloys are being used in the manufacturing of special steels and alloy steels. Hence, rise in the demand for different types of steels is estimated to lead to revenue-generation opportunities in the global ferroalloys market during the forecast period.
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Some of the key players profiled in the report are:
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