Ferrosilicon Market Size, Share, and Industry Analysis, By Type (Atomized Ferrosilicon and Milled Ferrosilicon), By End-Use Industry (Carbon & Other Alloy Steel, Stainless Steel, Electric Steel, Cast Iron, and Others), and Regional Forecast, 2026-2034

The global ferrosilicon market size was valued at USD 12.2 billion in 2025. The market is projected to grow from USD 12.51 billion in 2026 to USD 15.3 billion by 2034, exhibiting a CAGR of 2.55% during the forecast period.

Ferrosilicon is an alloy composed primarily of iron and silicon. It typically contains about 15-90% silicon by weight. This material is produced by reducing silica or sand with coke and iron at high temperatures in an electric arc furnace. The primary driver of the ferrosilicon market is the steel industry, as ferrosilicon is essential in the steelmaking process for deoxidation and as an alloying agent.

Large-scale construction and infrastructure projects, particularly in emerging economies, drive the demand for steel and, consequently, ferrosilicon. Urbanization and government investments in infrastructure contribute significantly to this demand.

• The number of road bridges in China exceeded 1 million in 2022, representing an increase of 72,000 from 2021. Since 2010, the number of road bridges in the country has increased significantly by 5%.

Ferrosilicon is added to molten steel to remove oxygen by forming silicon dioxide, which can be easily separated from the steel. This process improves the quality of the steel. Ferrosilicon is also used to improve the quality and machinability of cast iron. It helps control the formation of graphite in the iron, resulting in a better microstructure.

• In 2022, Asia Pacific dominated the ferrosilicon market with around 65% of the share.

The major Ferrosilicon market consumers by region are China, Japan, and India in Asia Pacific; the U.S. & Canada in North America; Germany and France in Europe; and South Africa and GCC in the Middle East.

• China is the largest producer of ferrosilicon, accounting for over 70% of the global production in 2022.  
• As per the data from China Customs, China exported 647,200 tons of ferrosilicon in 2022, an increase of 122,100 tons from 2021.

Segmentation

Key Insights

The report covers the following key insights:

• Key Market Trends

• Sustainability Scenario of the Ferrosilicon Market
• Key Developments in the Ferrosilicon Market
• Latest Technological Advancements
• Impact of COVID-19 on Ferrosilicon Market

Analysis by Type

By type, the market is segmented into atomized ferrosilicon and milled ferrosilicon. The atomized ferrosilicon segment holds a significant share of the global Ferrosilicon market.

• The unique properties of atomized ferrosilicon are anticipated to be the major factor driving its demand from several applications over the forecast period.
• Atomized ferrosilicon, due to its fine and uniform particle size, finds applications in various industrial processes, particularly where high reactivity and precision are required.

Analysis by End-use

By end-use, the market is segmented into carbon & other alloy steel, stainless steel, electric steel, cast iron, and others. The carbon & other alloy steel segment holds a significant share of the global Ferrosilicon market.

• The carbon & other alloy steel segment is anticipated to witness the fastest growth in demand for ferrosilicon owing to the use of alloy steel in the construction and automobile industries.
• Ferrosilicon is used as an alloy agent and deoxidizer, playing a crucial role in steel production. It offers superior durability and strength when added to carbon steel during its production. Additionally, it helps in improving its mechanical properties and resistance to wear and corrosion.
• Moreover, in the production of other alloy steels, it is combined with other elements, such as chromium, nickel, and manganese, to develop specialized alloy steels tailored for specific applications.

Regional Analysis

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The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific holds the largest share of the global Ferrosilicon market. The region has the highest population and is witnessing rapid industrialization and urbanization. Rapid industrialization and urbanization are creating a demand for infrastructure, driving the growth of the Ferrosilicon market. Rising industrialization has resulted in an increase in consumer expenditure driving Ferrosilicon demand for building and infrastructure industries.

Top Iron & Steel Exporters Globally in 2021-2022,

• China – USD 9.32 Billion
• Indonesia - USD 7.62 Billion
• Germany – USD 4.05 Billion
• U.S. -  USD 2.35 Billion
• Belgium - USD 2.09 Billion
• Austria - USD 1.25 Billion
• France - USD 1.15 Billion
• Mexico - USD 1.01 Billion

Key Players Covered

The report includes the profiles of key players, such as Elkem, Eurasian Resources Group, Finnfjord, Ferroglobe, OM Holdings Ltd., Russian Ferro-Alloys Inc., SINOGU CHINA, VBC Industries Limited, China National BlueStar (Group) Co., Ltd., American Elements, and Reade International Corp.

Key Industry Developments

• In July 2022, Ferroglobe PLC entered a new phase in its silicon metal powder project for batteries and other advanced technologies. It reached a high purity production (up to 99.995%) in micrometer and sub-micrometer size.
• In February 2022, Elkem ASA acquired the remaining 50% stake in the Salten energy recovery plant from Kvitebjørn Energi, thus taking 100% ownership. This acquisition aims to enable environmentally friendly ferrosilicon-grade production.