company news about Ferroalloy demand is expected to increase in the future

As the demand for alloy steels and specialty steels increases, so does the demand for ferrosilicon. The global ferroalloy market is expected to grow at a CAGR of 5.9% through 2025 owing to the lack of viable alternatives that can satisfy various applications. A large portion of bulk ferroalloys is used in the production of steel due to their low prices and high volumes in major producing areas. The boom in construction and construction in some emerging economies is another key driver for the global ferroalloy market, where the development of lightweight and high-strength steel grades is expected to open up opportunities. On the other hand, stringent government regulations on the environment and high operating costs restrain the growth of the global ferroalloy market. The global ferroalloy market is expected to increase from $112.8 billion in 2016 to $188.7 billion by 2025.