India Ferrosilicon Market

India Ferrosilicon Market Size and Share: 

The India ferrosilicon market size reached USD 410.0 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 490.0 Million by 2033, exhibiting a growth rate (CAGR) of 2.1% during 2025-2033. The market share is expanding, driven by the increasing shift towards electric vehicles (EVs) and lightweight vehicles, which is creating the need for ferrosilicon to enhance mechanical properties, along with the growing investments in large-scale construction projects owing to rapid urbanization and industrialization activities.

India Ferrosilicon Market Trends:

Increasing demand for steel in automotive industry

The rising requirement for steel in the automotive industry is offering a favorable India ferrosilicon market outlook. According to the ICRA, India’s steel production was anticipated to grow 4-7% to 123-127 MT in FY24. India’s domestic steel demand is set to grow by 9-10% in FY25. Ferrosilicon is a crucial alloying element utilized in steel production to enhance strength and corrosion resistance, making it ideal for automotive applications. As car production in India is increasing owing to government initiatives like Make in India, steel manufacturers are ramping up manufacturing, leading to higher employment of ferrosilicon. The rising shift towards EVs and lightweight vehicles also creates the need for specialized steel grades where ferrosilicon plays a vital role in improving mechanical properties. Additionally, advanced safety features and fuel efficiency requirements are encouraging automakers to employ high-strength steel, further fueling the market growth. The rising trend of vehicle exports from India is promoting the use of reliable steel, which is driving the demand for ferrosilicon as a key alloying agent. With continuous advancements in automotive manufacturing and the adoption of more durable vehicles, the need for ferrosilicon in the steel industry is increasing.

Growing investments in construction projects

Increasing investments in construction projects are fueling the India ferrosilicon market growth. Ferrosilicon is a key alloy employed in steel manufacturing to improve longevity and efficiency, which are essential properties for construction materials. As infrastructure development is expanding, including highways, bridges, commercial buildings, and residential projects, the need for high-quality steel is rising, leading to greater usage of ferrosilicon. Government initiatives like Smart Cities are further driving steel demand, supporting the market growth. Additionally, rapid urbanization and industrialization activities are leading to large-scale construction, requiring strong and long-lasting materials. Apart from this, the rise of green buildings and earthquake-resistant structures is promoting the employment of ferrosilicon. Increased foreign direct investment (FDI) in the construction sector is also contributing to higher steel production, directly benefiting the ferrosilicon industry. Moreover, modern construction techniques, such as prefabricated buildings and high-rise structures, require steel reinforced with ferrosilicon-based alloys for better performance. With expenditure on ongoing projects by government agencies and private firms, the steady broadening of construction activities is keeping the demand for ferrosilicon high, ensuring its crucial role in India's expanding infrastructure landscape. In October 2024, Metro Group, the prominent real estate company, planned to invest INR 225 Crore to create a new housing project in the Mumbai Metropolitan Region (MMR) in Thane, India. The firm introduced its upscale venture, 'The Presidential,' in the Pokhran Road region of Thane. The initiative included 100 apartments on a one-acre plot, with the overall funding directed toward building this new undertaking.

India Ferrosilicon Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on application and end-use.

Application Insights:

• Deoxidizer
• Inoculant
• Others

The report has provided a detailed breakup and analysis of the market based on the applications. This includes deoxidizer, inoculant, and others.

End-Use Insights:

• Carbon and Other Steel Alloy
• Stainless-Steel
• Electric Steel
• Cast Iron
• Others

A detailed breakup and analysis of the market based on the end-uses have also been provided in the report. This includes carbon and other steel alloy, stainless-steel, electric steel, cast iron, and others.

Regional Insights:

• North India
• South India
• East India
• West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Ferrosilicon Market News:

• In December 2024, Arunachal Pradesh's Industries Minister Nyato Dukam launched Aether Alloys LLP, a state-of-the-art manufacturing facility for ferrosilicon, located at the Industrial Growth Centre in Niglok, East Siang district. The initiative was anticipated to generate many job opportunities for the local community, enhance the economy, and aid India's self-sufficiency in ferrosilicon manufacturing.
• In December 2023, Tamilnadu Coke & Power Limited (TNCPL), a leading low ash metallurgical (LAM) coke producer, presented its Draft Red Herring Prospectus (DRHP) to the NSE Emerge. The suggested issuance included a new allocation of 64,14,000 equity shares, each having a nominal value of INR 10. The DRHP detailed how the funds from the IPO were to be distributed for multiple aims, such as creating a new ferrosilicon production plant, installing a solar power plant, purchasing more land, and general corporate needs. TNCPL intended to use INR 39.60 Crore to set up a 2×5 Mega Volt-Amps (MVA) ferrosilicon facility.

India Ferrosilicon Market Report Coverage:

Key Questions Answered in This Report:

• How has the India ferrosilicon market performed so far and how will it perform in the coming years?
• What is the breakup of the India ferrosilicon market on the basis of application?
• What is the breakup of the India ferrosilicon market on the basis of end-use?
• What is the breakup of the India ferrosilicon market on the basis of region?
• What are the various stages in the value chain of the India ferrosilicon market? 
• What are the key driving factors and challenges in the India ferrosilicon market?
• What is the structure of the India ferrosilicon market and who are the key players?
• What is the degree of competition in the India ferrosilicon market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India ferrosilicon market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India ferrosilicon market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India ferrosilicon industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.