Get In Touch

Increasing Demand for Steel to Boost Noble Ferroalloys Market Growth 

Special focus on ferroalloys continues to grow, due to their growing importance in the iron and steel industry. Any fluctuation in prices and instability in the steel industry have a direct effect on the growth of the noble ferroalloys market. Noble ferroalloys are used in the manufacturing of steel, stainless steel, and superalloys; the steel industry consumes ~ 80% of the produced noble ferroalloys around the world. 

To develop a clear understanding of the growth of the global noble ferroalloys market, Transparency Market Research piloted a comprehensive study on this market space. Researchers have presented their analysis for the period of 2019 to 2027, to thoroughly understand the potential of the global noble ferroalloys market. With this information, players in the global noble ferroalloys market can take better and well-informed business decisions to further their business growth. 

noble ferroalloys market growth strategies for players

Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report here 

U.S.-China Trade War has Induced Uncertainty in the Ferroalloys Industry 

The growth and decline of the global ferroalloys market is directly linked with the ups and downs taking place in the global steel market. As China is a dominating global steel producer, holding ~ 51% share of the world’s crude steel production, it largely influences the growth of the global noble ferroalloys market. Things changed when recently, China and the U.S. became locked in an ugly trade war. In addition to this, uncertainties regarding the trade environment, rising interest rates, and complacent financial markets have also adversely impacted the growth of the steel market. Attributing to these global scenarios, the demand for steel dipped in 2016-2017. However, the global steel market regained its pace, but at a moderate growth rate in the following years. 

With current instability in the steel industry, fluctuations are expected to come as impediments in the growth of the noble ferroalloys space. In 2018, the global noble ferroalloys market was valued at ~ US$ 32 billion, and the market is projected to reach ~ US$ 68 billion by the end of 2027. 

Understanding the Production Capabilities of Leading Markets 

China – Largest Steel Producer 

China is the largest producer of steel, and in 2018, it produced ~ 928 million tons (MT) of steel, up from ~ 870 MT in 2017, an increase of 6.6 percent. In early 2018, the Chinese steel industry took a hit due to huge tariffs imposed by the U.S. on Chinese goods. The situation turned into a trade war between these two giant economies. This eventually affected the growth of the global noble ferroalloys market too. It also had a ripple effect on other countries closely connected to China’s supply chain for steel, such as India, Japan, Korea, and others.  As a counter, the Chinese government also imposed certain import tariffs on U.S. goods. This is an ongoing situation and its outcome is likely to affect the noble ferroalloys market in one way or another. As per TMR analysis, the steel industry in China is expected to grow in the coming years, due to increasing infrastructural developments and the expanding construction industry in the Asia Pacific region.  

Is something restraining your company’s growth in the Noble Ferroalloys Market? Ask for the report brochure here 

Bright Future for the Ferroalloys Market in India 

India has overtaken Japan as far as steel production is concerned, and now stands second, globally. In 2018, India’s crude steel production shot up by 4.9%, reaching 106 MT from 101 MT in 2017. Growth in steel production has significantly benefited the noble ferroalloys market. Noble ferroalloy producers are innovating and introducing new technologies in processing and plant equipment designs. With increasing infrastructural development in India, the noble ferroalloys market is expected to have a bright future in India in the near future. Although, there are chances that the market in India might be adversely affected due to cheaper imports from China. 

Companies manufacturing noble ferroalloys in India are expected to witness high growth due to increasing infrastructural development and construction. According to international reports, India is expected to rise at an annual GDP growth rate of 7.5 percent in 2019. Despite the global slowdown for steel, Indian demand has shown resilience. Infrastructure development is the key growth driver, as the Indian infrastructure sector witnessed 91 mergers and acquisition deals worth US$ 5.4 billion in 2017. The development of smart cities and increasing urbanization has further attracted investments from companies across the globe. With ~ 50% of steel consumed for infrastructure development, this sector opens huge opportunities for the global noble ferroalloys market. 

U.S. Stake in Steel Production 

In 2017, U.S. steel demand grew substantially due to strong consumer spending and business investment, supported by tax and regulatory changes. But growth in the construction sector was moderate. The overall production of steel in the U.S. was ~ 95 million tons in 2018. Steel demand growth during 2019-2020 is expected to slow down, attributing to modest growth in auto manufacturing and construction activity in the country. However, the manufacturing sector is expected to perform well based on the growing strength of the machinery and equipment sector. 

production output analysis for noble ferroalloys

Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Noble Ferroalloys Market here

Changing Trends Expanding Opportunities in the Global Noble Ferroalloys Market 

Prominent Players Leveraging Advanced Technologies to Enhance Production of Noble Ferroalloys 

Noble ferroalloy manufacturers are focusing on using new technologies and innovations to design plant equipment, process technology, and product mix. Their main objective is to improve the overall efficiency and cost-effectiveness of ferroalloy production plants. For instance, SMS Siemag AG has developed a new technology for ferroalloy production, by using the vacuum technique and the converter technology, which is anticipated to reduce thermal loss, lessen operating costs, and reduce nitrogen and hydrogen content in steel alloy compositions. 

Growing Use of Ferroniobium in the Automotive Sector 

The use of ferroniobium has been increasing considerably in the automobile sector. Ferroniobium helps produce lighter structures without compromising on their strength. Ferroniobium can also be employed in the production of lighter cars that run on lower amounts of fuel. In North America, Canada is a prominent producer of ferroniobium. This is majorly used for the production of high-strength, low-alloy (HSLA) steel, which is used in automotive, construction, and pipeline industries. As per the technology used by AMG Advanced Metallurgical Group N.V., ferroniobium is produced by the aluminothermic reduction of niobium oxide. This procedure helps in improving the wear, heat, and corrosion resistance in superalloys. 

Export and Import of Noble Ferroalloys Affecting Growth Dynamics of the Market 

Countries such as India and China are production hubs for noble ferroalloys. Noble ferroalloys are crucial components that are required for the manufacturing of stainless steel, foundry, steel making, welding rods, wire products, and others. Among the various noble ferroalloys, the demand for ferronickel is the highest. In 2018, the export value of ferronickel crossed the US$ 5 billion mark, which is likely to increase in the coming years. China, India, Russia & CIS (Commonwealth of Independent States), and Kazakhstan are the major producers of noble ferroalloys. These countries have ~ 70% of the world’s noble ferroalloys production capacity. But strict EPA regulations in China, along with price fluctuations in the stainless steel market in the country, results in an unstable import-export trade scenario. 

Noble Ferroalloys Market: Fragmented Landscape 

The presence of a large number of producers of noble ferroalloys has created a highly fragmented market structure. A large number of leading players are concentrated in the Asia Pacific region. Companies engaged in the production of noble ferroalloys are specialized in single noble ferroalloys, among all the noble ferroalloys. Leading players in the global noble ferroalloys market are engaged in mergers and acquisitions, expansion, collaborations, and innovation. For instance, AMG Advanced Metallurgical Group N.V. recently started two new strategic operating divisions: AMG Technologies and AMG Critical Materials. Among the seven operating units, AMG Vanadium is the largest producer of ferrovanadium in North America; it has its own proprietary technology based on the pyrometallurgical process. Recently, the company announced that AMG Vanadium LLC entered into an agreement to supply 7 million pounds of vanadium to a U.S.-based steel producer for the next two years, starting from January 2019. 

Other prominent players in the global noble ferroalloys market are also focusing on research and development activities to develop new and customized products. They are also engaged in delivering support services to their customers. Moreover, national and international ferroalloy conferences are also benefiting producers in expanding their presence and establishing relationships with other industry players. 

noble ferroalloys market

Analysts’ Viewpoint 

Analysts have a positive outlook for the global noble ferroalloys market, as steel is extensively used in construction and infrastructural development. Analysts believe that, the U.S.-China trade war will have an adverse effect on market growth, which, if addressed, would help the market grow faster. Players in Asia Pacific are enjoying a certain level of dominance in the noble ferroalloys market, due to the high availability of raw materials in the region. Prominent players in the market are willing to invest in research and development with the objective of providing better and enhanced products and services. New entrants need to connect with big industry players, mainly through national/international conferences, besides others means, as this will help them in creating a robust brand image and presence in the market. They also need to focus on developing new technologies, just as a few leading companies are already doing, as this will help them gain an edge in the production of noble ferroalloys. 

Rise in Demand for Steel in Various End-Use Industries Driving the Noble Ferroalloys Market 

  • Steel of various grades and types are extensively utilized in the auto, railway, aerospace, and real estate sectors. Expansion of the automotive sector and rising focus on infrastructure development of railways, skyscrapers, and commercial buildings, especially in developing countries, are propelling the production of steel. This is the major trend that is estimated to fuel the demand for noble ferroalloys in the near future. Noble ferroalloys are required for the production of special types of steels, and are employed for the manufacturing high grade steel, tools steel, and super alloys.
  • Noble ferroalloys are obtained by combining iron with different metals such as nickel, aluminum, molybdenum, tungsten, and titanium. Thus, noble ferroalloys can be segregated into ferromolybdenum, ferronickel, ferrotungsten, ferrovanadium, ferroboron, ferrotitanium, ferroaluminum, ferroniobium, and others.
  • The common properties associated with noble ferroalloys include enhanced durability, corrosion resistance, and improved hardness and strength. 

Market Indicators for the Noble Ferroalloys Market

  • According to a study, India recorded a 7.5% increase in the demand for steel in 2018. This demand is projected to rise by 7.3% by the end of 2019. Rise in the demand for steel, globally, was 3.9% in 2018. This is estimated to increase by 1.4% by the end of 2019.
  • Noble ferroalloys are closely associated with the steel industry. The demand for noble ferroalloys in steelmaking depends upon type of steel, process of steelmaking, and required properties of steel. 

Ferronickel Accounted for a Prominent Share of the Noble Ferroalloy Market 

  • Based on product, the ferronickel segment accounted for a significant share of the global noble ferroalloys market in 2018, due to abundant availability and cost-effectiveness. It is also expected to exhibit a significant growth rate during the forecast period.
  • Ferronickel is used in the production of stainless steel and construction steels. Rise in THE demand for stainless steel in THE building & construction, automotive, aerospace sectors, and the manufacture of utensils is EXPECTED to propel the demand for noble ferroalloy during the forecast period.
  • Ferrotungsten and ferrotitanium are also gaining momentum in the noble ferroalloys market, as they are used to increase the hot hardness and wear resistance of steel. 

Demand for Noble Ferroalloys to Increase in High Grade Steel and Superalloys

  • High grade steel and superalloys were lucrative segments of the noble ferroalloys market in 2018. In terms of volume and value, the high grade steel segment accounted for a major share of more than 75% of the global noble ferroalloys market in 2018.
  • As mentioned earlier, noble ferroalloys play a vital role in the production of superalloys, which are high-performance alloys employed in extreme environments, where resistance to corrosion and heat is of key importance.
  • Superalloys have become the steel of choice for applications in the aerospace industry and chemical processing industry. They are also used in the construction of submarines, industrial gas turbines, and heat exchangers. New steel applications have replaced conventional materials. This has led to reduction in greenhouse gas (GHG) emissions if the total lifecycle of the application is taken into account. 

Asia Pacific Expected to be a Highly Lucrative Market

  • In terms of volume and value, Asia Pacific held a leading share of more than 70% of the global noble ferroalloys market in 2018. The noble ferroalloys market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, owing to a rise in the demand for high-grade steel, superalloys, and welding electrodes. 
  • China is a key market for noble ferroalloys in the region. Rise in the demand for high-grade steel in various industry applications, such as in automotive and construction, is a key factor driving the noble ferroalloys market in China. Prominent players are operating in the noble ferroalloys market in the country, along with several local and unorganized manufacturers.
  • China is a prominent consumer and exporter of noble ferroalloys across the globe. A significant amount of ferronickel is consumed in the country, due to the expansion of its economy and high demand for ferroalloys in the manufacturing sector.
  • Developing countries in Asia Pacific, adequate mining reserves, rising exports of noble ferroalloys, and increasing number of mineral ore mining projects are likely to propel the ferroalloys market in Asia Pacific during the forecast period.
  • Steel has diverse applications, and it is considered essential for the economic growth of any country. A majority of noble ferroalloys are utilized in steel production in Russia. Russia & CIS is a highly lucrative market for noble ferroalloys in Europe, due to the high end-use of noble ferroalloys in crude steel.
  • Rise in construction activities and increasing focus on trade activities are projected to propel the demand for noble ferroalloys in Latin America in the next few years. 

Noble Ferroalloys Market - Competitive Landscape: 

  • The global noble ferroalloys market is highly fragmented, with the presence of regional and local players. Companies are focusing on utilizing exports as a tool for geographic expansion in existing as well as established markets in Asia Pacific.

A majority of companies are located in Asia Pacific. Key players that operate in the noble ferroalloys market include

  • Essel Mining & Industries Limited (EMIL)
  • D S Alloyd Pvt Ltd
  • AMG Advanced Metallurgical Group N.V.
  • Shanghai Shenjia Ferroalloys Co. Ltd.
  • LekonGermess Ltd
  • FE Mottram Ltd
  • Global Titanium Inc.
  • Nortech Ferro Alloys Pvt. Ltd.
  • Team Ferroalloys Pvt. Ltd.
  • Rama Ferro Alloys & Finance Pvt Ltd.
  • Lalwani Ferroalloy Ltd.
  • Moly Metal L.L.P.

Introduction - Noble Ferroalloys Market 

Transparency Market Research has recently published its new report on the global noble ferroalloys market. The report provides detailed analysis of the growth of the noble ferroalloys market, and its impact on the manufacturers and players across the globe. Researchers have compared historical data along with the ongoing trends to understand the market’s growth till the end of 2027. While analyzing a few crucial areas, historical data for base year of 2018 was taken into consideration.  

Researchers also elucidated on various macroeconomic and microeconomic factors. Overall, the report consists of systematic analysis along with graphical representation to give out a complete picture on the global noble ferroalloys market.  

Moreover, researchers have also emphasized on the drivers, trends, opportunities, and threats (DROTs) to develop insights by following a holistic approach. These insights will help noble ferroalloy stakeholders take better decisions while expanding their businesses and to strengthen their position in the global market. Competitive analysis with respect to their market standing, revenue generation, and involvement in research and development are also presented in the report. Prominent players analyzed in the report include

  • Essel Mining & Industries Limited (EMIL)
  • Global Titanium Inc.,
  • D S Alloyd Pvt Ltd
  • Shanghai Shenjia Ferroalloys Co. Ltd.
  • LekonGermess Ltd,
  • AMG Advanced Metallurgical Group N.V.
  • FE Mottram Ltd

Geographical reach and understating on various markets with regards to the growth of the noble ferroalloys market is explained in detail in this report. Key regions included in the report are 

  • Asia Pacific
  • Middle East and Africa
  • Latin America
  • Europe
  • North America 

Key Questions Answered Related to the Growth of the Noble Ferroalloys Market 

  • How noble ferroalloy providers are expanding the market’s scope through research and development?
  • What are the recent technologies used in the global noble ferroalloys market?
  • What are the key opportunities for noble ferroalloy providers, and how can these affect the growth of this market?
  • What are the global trends that are influencing growth in the global noble ferroalloys market?
  • What is the incremental and opportunity value in the global noble ferroalloys market?
  • Which region is likely to hold a prominent share in the global noble ferroalloys market?  

Research Methodology Used to Develop the Noble Ferroalloys Market Report 

While formulating the global noble ferroalloys market report, researchers used a combination of the top-down and bottom-up approach. This helped them systematically analyze the growth of the noble ferroalloys market in different regions and the impact on various segments. To clearly understand the bigger picture of the global noble ferroalloys market, special focus was put on the developments taking place in the noble ferroalloys industry, production, substitute analysis, and environmental analysis. 

Primary and secondary researches were done while making the noble ferroalloys market report. Direct interaction was conducted with industry players, manufacturers, and technology providers. For secondary research, articles, white papers, newsletter, industry magazines, and websites of specific companies were analyzed. Information from government websites included US EPA, Indian Bureau of Mines, and Indian Ferro Alloy Producers Association. Additionally, internal and external proprietary databases, as well as relevant patent and regulatory databases, along with national government documents, statistical databases, and market reports were thoroughly analyzed.  

Noble Ferroalloys Market - Taxonomy 

Segmentation of the global noble ferroalloys market is bifurcated on the basis of product and application. The report covers extensive analysis of how the development of the noble ferroalloys market will be affected by the changing trends linked to these segments.  


  • High Grade Steel
  • Superalloys
  • Welding Electrodes
  • Others (Tool Steel Structural Steel, Wire Production, etc.)


  • Ferromolybdenum
  • Ferronickel
  • Ferrotungsten
  • Ferrovanadium
  • Ferroboron
  • Ferrotitanium
  • Ferroaluminium
  • Ferroniobium
  • Others (Ferrocobalt, Ferrozirconium, etc.)

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Noble Ferroalloys Market