페로실리콘 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the ferrosilicon market size is estimated at 9.08 million tons in 2026 and is expected to reach 10.73 million tons by 2031, at a CAGR of 3.41% during the forecast period (2026-2031).

This report is Segmented by Grade (FeSi 45-75% Si, Fesi 75-90% Si, and High-Purity FeSi Greater Than 90% Si), Form (Lumps, Powder, and Briquettes and Others), Application (Metallurgy, Semiconductors, Photovoltaic Solar Energy, Chemical Processing, and Other Applications), and Geography (Asia-Pacific, North America, Europe, and More). The Market Forecasts are Provided in Terms of Volume (Tons).

Global Ferrosilicon Market Trends and Insights

Rising Steel-Capacity Additions Across Asia-Pacific

Between 2025 and 2027, OECD data reveals plans for new steelmaking capacity, with a significant portion concentrated in the Asia-Pacific region. In fiscal 2025, India's finished-steel capacity surpassed expectations. India's zero-import-duty policy on ferrous scrap, coupled with a Production-Linked Incentive scheme for specialty steel, is driving heightened demand for deoxidizers at its integrated mills. While China aims for annual growth in crude steel through 2026, energy restrictions in Inner Mongolia and Ningxia have led to intermittent shutdowns of older coal-fired furnaces. This has pushed operators to adopt newer, energy-efficient submerged-arc units. Even as hot-rolled coil prices dipped in 2024, steelmakers maintained the use of ferrosilicon per ton of crude steel, stabilizing baseline consumption. Consequently, the region sees an increase in medium-grade alloy demand.

Electrification Spurring Electrical-Steel Demand for EV Motors

Electrical steel, an iron-silicon sheet with silicon content, is deemed critical for traction motors by the U.S. Department of Energy. Each battery electric vehicle (EV) requires laminations made from this material. In anticipation of the growing EV market, POSCO, Baowu, and JFE Steel have introduced new grain-oriented and non-oriented production lines, set to ramp up by 2026. These mills are also opting for higher-purity ferrosilicon to minimize magnetic-core losses. The International Energy Agency projects a surge in global EV sales in the coming years. Additionally, as grid-transformer installations for renewable energy interconnections grow, there's a heightened demand for grain-oriented electrical steel, especially since step-up transformers depend on it. While the supply of electrical steel is concentrated in China, Japan, South Korea, and Germany, these regional hotspots experience less cyclicality compared to bulk carbon-steel uses. This stability in alloy offtake persists even when there's a downturn in construction steel.

Volatile Quartzite and Electricity Costs

Producing a ton of silicon consumes significant electricity, making energy costs account for nearly half of a smelter's expenses. Due to annual Eskom tariff hikes, Glencore adjusted its furnace operations in Mpumalanga. Simultaneously, Ferroglobe had to halt operations in Spain and France, reacting to high European day-ahead electricity prices. For quartzite feedstock, a high SiO2 content is essential. However, disruptions in the Red Sea and Panama Canal have led to a spike in shipping costs. China's dual-control policy is tightening winter electricity supplies in Inner Mongolia and Ningxia, reducing utilization rates and driving up spot alloy prices. While hydropower-abundant Norway and Paraguay present some cost relief, many smelters in regions with high tariffs find it challenging to break even, especially when ferrosilicon prices remain under pressure.

Other drivers and restraints analyzed in the detailed report include:

1. Infrastructure Stimulus in North America and India
2. Hydrogen-Ready DRI Mills Adopting Higher-Silicon Blends
3. Tightening CO2-Emission Regulations on Smelters

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

The FeSi 45-75% slice held 65.44% of 2025 volume and is forecast to expand faster than any other grade at a 4.06% CAGR. This grade integrates effortlessly into carbon-steel ladles and cast-iron inoculation, delivering high silicon recoveries without excessive heat. Chinese measures aimed at increasing crude steel production underpin incremental offtake, and India's capacity additions amplify the pull. Standard 75% material serves electric-arc furnaces and foundries but grows more slowly because scrap-heavy melting requires less material compared to blast furnaces. High-purity grades over 90% silicon meet semiconductor and solar wafer standards; producers toggle furnaces between traditional alloy and metallurgical-grade silicon when polysilicon prices justify the switch. Pricing spreads validate that choice, giving agile smelters the margin incentive to chase solar-cycle peaks. Recycled photovoltaic silicon may eventually seed a circular supply, yet industrial-scale collection and refining infrastructure is still embryonic.

Complete Report Scope:

• By Grade
  • FeSi 45-75% Si
  • FeSi 75-90% Si
  • High-purity FeSi greater than 90% Si
• By Form
  • Lumps
  • Powder
  • Briquettes and Others
• By Application
  • Metallurgy
  • Semiconductors
  • Photovoltaic Solar Energy
  • Chemical Processing
  • Other Applications
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific owned 58.81% of the ferrosilicon market share in 2025 and is projected to clock the highest 4.53% CAGR through 2031. Despite energy policies causing some legacy furnaces in Inner Mongolia and Ningxia to idle, China stands firm as the leading producer. India is channeling increased alloy demand to its domestic suppliers and Bhutan's Tashi Group, thanks to its specialty-steel incentive scheme and zero-duty scrap imports. Meanwhile, Japan and South Korea, collectively importing substantial quantities annually, see an added boost from POSCO's electrical-steel expansion, potentially increasing demand further.

North America, accounting for a notable portion of global demand, saw the U.S. rely on five smelters, one of which was idled, alongside imports from Brazil, Canada, and Malaysia. Thanks to the Bipartisan Infrastructure Law, an annual uptick is anticipated as steel tonnage flows into bridge and rail projects. While Canada pushes for critical minerals and proposes hydro-powered plants (albeit with permitting delays into the 2030s), Mexico's near-shoring trend is driving up flat-steel demand for appliances and automotive. However, the region's reliance on imports for ferrosilicon underscores a significant interdependence.

Europe, with a substantial annual consumption, grapples with high power prices. While Ferroglobe has curtailed operations in Spanish and French furnaces, Norway capitalizes on hydropower to maintain competitive costs. Furthermore, Norway is channeling significant investment into a solar-grade silicon complex at Heroya. South America, primarily driven by Brazil's hydro-advantaged capacity, finds itself shipping significant quantities to both the U.S. and Europe. In the Middle East and Africa, South Africa takes center stage. However, with Eskom's tariff hikes and load-shedding challenges, capacity utilization remains restricted. Yet, there's a glimmer of hope with Saudi infrastructure projects hinting at modest incremental demand.

1. Anyang Huatuo Metallurgy Co., Ltd
2. China Minmetals Corporation
3. Elkem ASA
4. Erdos Group
5. Eurasian Resources Group
6. Ferro Alloys Corporation Ltd.(FACOR)
7. Ferroglobe
8. Finnfjord AS
9. Glencore Ferroalloys
10. Henan Xinxin Silicon Alloy Co.,Ltd
11. Mechel PAO
12. Nikopol Ferroalloy Plant
13. OM Holdings Ltd.
14. Shanghai Shenjia Ferroalloys Co. Ltd.
15. SKP Merchants
16. Tashi Group

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Rising steel-capacity additions across Asia-Pacific
  • 4.2.2 Electrification spurring electrical-steel demand for EV motors
  • 4.2.3 Infrastructure stimulus in North America and India
  • 4.2.4 Hydrogen-ready DRI mills adopting higher-Si alloy blends
  • 4.2.5 Growth of dense-media recycling using atomised FeSi powders
• 4.3 Market Restraints
  • 4.3.1 Volatile quartzite and electricity costs
  • 4.3.2 Tightening CO2-emission regulations on smelters
  • 4.3.3 Shift to Al-Si master-alloys in auto castings
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Grade
  • 5.1.1 FeSi 45-75% Si
  • 5.1.2 FeSi 75-90% Si
  • 5.1.3 High-purity FeSi greater than 90% Si
• 5.2 By Form
  • 5.2.1 Lumps
  • 5.2.2 Powder
  • 5.2.3 Briquettes and Others
• 5.3 By Application
  • 5.3.1 Metallurgy
  • 5.3.2 Semiconductors
  • 5.3.3 Photovoltaic Solar Energy
  • 5.3.4 Chemical Processing
  • 5.3.5 Other Applications
• 5.4 By Geography
  • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Rest of Asia-Pacific
  • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
  • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Rest of Europe
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
  • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 South Africa
    • 5.4.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share (%)/Ranking Analysis
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for key companies, Products and Services, and Recent Developments)
  • 6.4.1 Anyang Huatuo Metallurgy Co., Ltd
  • 6.4.2 China Minmetals Corporation
  • 6.4.3 Elkem ASA
  • 6.4.4 Erdos Group
  • 6.4.5 Eurasian Resources Group
  • 6.4.6 Ferro Alloys Corporation Ltd.(FACOR)
  • 6.4.7 Ferroglobe
  • 6.4.8 Finnfjord AS
  • 6.4.9 Glencore Ferroalloys
  • 6.4.10 Henan Xinxin Silicon Alloy Co.,Ltd
  • 6.4.11 Mechel PAO
  • 6.4.12 Nikopol Ferroalloy Plant
  • 6.4.13 OM Holdings Ltd.
  • 6.4.14 Shanghai Shenjia Ferroalloys Co. Ltd.
  • 6.4.15 SKP Merchants
  • 6.4.16 Tashi Group

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-Need Assessment