The Silico Manganese Global Market Report 2023, provides comprehensive information on the silico manganese market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Silico Manganese Global Market Report 2023, the global silico manganese market size is expected to grow from $25.98 billion in 2022 to $28.33 billion in 2023 at a compound annual growth rate (CAGR) of 9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global silico manganese market size is expected to reach $38.35 billion in 2027 at a CAGR of 7.9%.
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Increasing investments in silico manganese are the key trend gaining popularity in the silico manganese market. Major companies operating in the silico manganese market are focusing on expanding their production facilities by increasing their output and investments in the market. For instance, in August 2022, Arab Alloys, an Egypt-based producer of ferroalloys invested $32.795 million(EGP 1 billion) to establish an industrial complex for ferroalloys in the Suez Canal economic zone (SCZone) to produce 48,000 tonnes of ferrosilicon. It would also make silicon manganese, which is primarily utilized in the iron and steel industries, as well as silicon metal, which is primarily used in the aluminum business. Further, in October 2022, Pertama Ferroalloys (PFA), a Malaysia-based provider of ferroalloys and silico manganese is investing US$600mil (RM2.81bil) on its ferroalloy smelting plant’s second phase expansion, which is the first manganese alloy and ferrosilicon smelting plant in Malaysia.
The silico manganese market is segmented:
1) By Product: Low Carbon, Medium Carbon, High Carbon
2) By Application: Carbon Steel, Stainless Steel, Alloy Steel, Cast Iron, Other Applications
3) By End Users: Defense, Automotive, Consumer Appliances, Construction
Asia-Pacific was the largest region in the silico manganese market in 2022.
The table of contents in TBRC’s silico manganese market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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