Global Ferronickel Market Size By Product (Ferronickel: Nickel <15%, Ferronickel: Nickel 15%-25%, Ferronickel: Nickel 25%-35%), By Application (Stainless Steel Industry, Electronics Industry), By Geographic Scope And Forecast

Ferronickel Market Size And Forecast

Ferronickel Market size was valued at USD 16.94 Billion in 2024 and is projected to reach USD 24.54 Billion by 2031, growing at a CAGR of 5.23% from 2024 to 2031.

The Global Ferronickel Market has witnessed strong growth owing to the increasing demand for Ferronickel for the production of ferrous alloys. Ferronickel has potential application in the production of stainless steel. Thus, the rising adoption of stainless steel across culinary areas (Kitchen sinks, Cutlery, and Cookware, amongst others), medical & life sciences, construction and architecture, and automotive and aerospace industries, amongst others, is fueling the growth of the Global Ferronickel Market during the forecasted period.

Global Ferronickel Market Definition

Ferronickel is a crude alloy comprised of iron and nickel. The alloy composition contains the maximum amount of nickel; thus, has applications in the production of nickel steel. Ferronickel contains approximately 45% nickel and the remaining amount of iron. Furthermore, it contains low-calcium content material and large percentages of silicon, aluminum, and iron oxides.

While nickel is the star of the show, there are other elements in the mix, just in smaller amounts. You can get ferronickel from lateritic ores, which can be turned into a less-than-pure version containing about 70% iron. How? By heating up those ores and then melting them down in a special electric furnace. The amount of nickel you end up with in this impure alloy? Somewhere between 19% and 38%. Ferronickel is used everywhere, from construction and cars to medicine and even the stuff we buy every day – it really depends on the specific type of ferronickel you're talking about. Generally, ferronickel is categorized by its nickel contentthink less than 15%, 15%-25%, 25%-35%, and... well, you get the idea.

Global Ferronickel Market Overview

The demand for Ferronickel across the stainless steel industry is growing during the forecasted period, as the demand for the finished stainless steel is growing across culinary areas (Kitchen sinks, Cutlery, and Cookware, amongst others), medical & life sciences, construction and architecture, and automotive and aerospace industries, amongst others. In construction and architecture, stainless steel can be used in structural designs.

In architectural designs, stainless steel has a wide range of applications in making columns, beams, and other architectural structures. It can also be used in making atriums, canopies, staircases, and swimming pool sheds. Stainless steel offers an aesthetic appearance to the architectural structures; thus, the demand for stainless steel is growing around the world driving the growth of the Global Ferronickel Market.

Moreover, the construction industry across the world is developing and growing in the developed countries such as the United States, and Canada, amongst others, and res of the other countries, the rate of construction is high due to the rise in population and industrial development. Thus, construction and architectural development are booming to provide people with a better life and developed surroundings.

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development’s joint report state that a total of 1,449,000 housing constructions had been completed by April 2021. And around 1,569,000 housing units had been started construction and are under construction process. The unadjusted estimates of housing units authorized by building permits for January through December 2020 have been revised and accounted for 1,760,000 permits across the country.

The world's hunger for gadgets – you know, mobiles, laptops, tablets, and even your fridge – is booming, and that's really driving the need for Ferronickel in the Electronics Industry. Think about itmore and more smartphones are ending up in people's hands every day. Just check out these numbers from the Department of Telecommunications, Government of India, 2019a staggering 1211.80 million Indians were using telephones, with a huge chunk of those, 1188.99 million, hooked on their mobile phones. And get this, back in 2014, that number was only 904.52 million! That's a massive jump, showing there's still lots of potential for even more mobile users across the country, and that's a big deal for Ferronickel demand.

Also, different factors such as growing demand for automotive and aerospace applications, stringent regulations and government initiatives to conserve energy, and the growing electric vehicles (EVS) industry around the world, amongst others, are creating new opportunities for the Global Ferronickel Market to grow over the forecasted period. However, iron ore is highly volatile due to higher demand from different industries. Therefore, volatile raw material prices, and fluctuations in import and custom tariffs, amongst others, might strangle the growth of the Global Ferronickel Market.

Global Ferronickel MarketSegmentation Analysis

The Global Ferronickel Market is segmented based on Product, Application, and Geography.

Ferronickel Market, By Product

• FerronickelNickel <15%• FerronickelNickel 15%-25%• FerronickelNickel 25%-35%• Others

Based on Product, the market is further segmented into FerronickelNickel <15%, FerronickelNickel 15%-25%, FerronickelNickel 25%-35%, and Others. In 2021, the FerronickelNickel 25%-35% segment has dominated the market accounting for the largest market share. FerronickelNickel 25%-35% contains more than 60% iron as compared to nickel. It possesses special electronic, magnetic, and catalytic properties. It is a metallic solid material that offers potential application across the electronics industry. Also, FerronickelNickel 25%-35% is always stable under normal storage conditions.

Ferronickel Market, By Application

• Stainless Steel Industry• Electronics Industry• Other

Based on Application, the market is segmented into Stainless Steel Industry, Electronics Industry, and Others. In 2021, the Stainless Steel Industry segment has dominated the market accounting for the largest market share. The demand for stainless steel is growing from different industry verticals including construction & architecture, culinary applications, medical and surgical instruments, automotive and aerospace applications, and the rest the others, around the world. Stainless steel is a sustainable metal alloy that can be recycled and is easy to sterilize.

Ferronickel Market, By Geography

• North America• Europe• Asia Pacific• Rest of the World

Based on regional analysis, the Global Ferronickel Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. Asia-Pacific is the leading region in the Global Ferronickel Market. The factors such as large steel production in the region, huge economic growth potential, increasing emphasis on domestic production, and ongoing projects will boost the market in the APAC region. Also, the demand for stainless steel is growing due to rising demand from growing construction, medical & surgical devices, and the electronics industry.

Key Players

The “Global Ferronickel Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Shandong Xinhai Technology, Pacific Steel MFG, Tsingshan Holding Group, Linyi Yichen Alloy, Jiangsu Delong Nickel Industry, Eramet, South32, Shengyang Group, Koniambo Nickel, and Anglo American, amongst others, are a few major companies operating in the Ferronickel Market. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In March 2022, China’s Tsingshan Holding Group bought large amounts of nickel to reduce its short bets on the metal and its exposure to costly margin calls.

• In January 2022, Anglo American announced 2022 iron ore, nickel production guidance for the Brazilian unit. The company has projected iron ore production of 24-26Mt in 2022, while nickel output is expected to reach between 40,000t and 42,000t.

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