What is Silico Manganese - Global Market?
Silico Manganese, a ferroalloy with high contents of manganese and silicon, plays a critical role in the global market. This alloy, produced by carbothermic reduction of silicon and manganese elements, is primarily used in the steel industry. The two main types of Silico Manganese, Silicomanganese with 10-26% Si and Silicomanganese with 28-30% Si, have different applications based on their silicon content. The former is commonly used in the production of low carbon steel due to its ability to combine with sulfur, thereby preventing the formation of iron sulfide in steel. The latter, on the other hand, is used in the production of stainless steel and special steel where a higher silicon content is required.
Silicomanganese with 10-26% Si, Silicomanganese with 28-30% Si in the Silico Manganese - Global Market:
Silico Manganese's usage extends beyond steel production. It is also used as a deoxidizer and desulfurizer in various industries. As a deoxidizer, Silico Manganese removes excess oxygen from substances, thereby preventing oxidation and enhancing the material's durability and strength. In the role of a desulfurizer, it helps in removing sulfur from molten metal, which can otherwise make the metal brittle and susceptible to cracking. Other applications of Silico Manganese include its use in the manufacture of silicides and in the production of silicon.
Deoxidizers, Desulfurizers, Others in the Silico Manganese - Global Market:
The global Silico Manganese market, valued at US$ 17010 million in 2022, is projected to reach US$ 21850 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 3.6% during the forecast period of 2023-2029. This growth can be attributed to the increasing demand for Silico Manganese in various industries, particularly in steel production. It's worth noting that the top five manufacturers globally hold an 11% share of the total production. This indicates a highly competitive market with numerous players contributing to the global supply of Silico Manganese.
Silico Manganese - Global Market Outlook:
In conclusion, Silico Manganese plays a vital role in various industries, particularly in steel production. Its properties as a deoxidizer and desulfurizer make it an essential component in enhancing the quality and durability of products. With the global market expected to grow at a steady rate, the demand for Silico Manganese is set to increase in the coming years.
| Report Metric | Details |
| Report Name | Silico Manganese - Market |
| Forecasted market size in 2029 | US$ 21850 million |
| CAGR | 3.6% |
| Forecasted years | 2023 - 2029 |
| Global Silico Manganese market, by region: |
|
| Global Silico Manganese market, Segment by Type: |
|
| Global Silico Manganese market, by Application |
|
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
