United States's Ferro-alloys Market Expected to Grow at 1.4% CAGR Over Next Decade - News and Statistics - IndexBox

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IndexBox has just published a new report: U.S. - Ferro-Alloys - Market Analysis, Forecast, Size, Trends And Insights.

Driven by rising demand for ferro-alloys in the United States, the market is expected to see an upward consumption trend over the next decade. By 2035, the market volume is projected to reach 1.9M tons and the market value is expected to hit $4B in nominal prices. This growth is forecasted to be driven by a CAGR of +1.4% in volume and +2.4% in value from 2024 to 2035.

Driven by rising demand for ferro-alloys in the United States, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market volume to 1.9M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.4% for the period from 2024 to 2035, which is projected to bring the market value to $4B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of ferro-alloys decreased by -1.1% to 1.7M tons, falling for the second year in a row after two years of growth. Over the period under review, consumption continues to indicate a mild contraction. Ferro-alloys consumption peaked at 2.2M tons in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The value of the ferro-alloys market in the United States fell to $3.1B in 2024, declining by -7.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a relatively flat trend pattern. Ferro-alloys consumption peaked at $4.3B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

Ferro-chromium (632K tons), ferro-silicon (463K tons) and ferro-manganese (301K tons) were the main products of ferro-alloys consumption in the United States, with a combined 84% share of the total volume. Ferro-silico-manganese, miscellaneous ferro-alloys, ferro-titanium and ferro-silico-titanium and ferro-molybdenum lagged somewhat behind, together comprising a further 16%.

From 2013 to 2024, the biggest increases were recorded for ferro-molybdenum (with a CAGR of +4.9%), while consumption for the other products experienced a decline.

In value terms, ferro-chromium ($878M), ferro-silicon ($856M) and miscellaneous ferro-alloys ($434M) constituted the products with the highest levels of market value in 2024, with a combined 71% share of the total market. Ferro-manganese, ferro-molybdenum, ferro-silico-manganese and ferro-titanium and ferro-silico-titanium lagged somewhat behind, together accounting for a further 29%.

Ferro-molybdenum, with a CAGR of +6.6%, saw the highest rates of growth with regard to market size among the main consumed products over the period under review, while market for the other products experienced more modest paces of growth.

In 2024, the amount of ferro-alloys produced in the United States dropped modestly to 625K tons, therefore, remained relatively stable against the previous year. Overall, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 13% against the previous year. Ferro-alloys production peaked at 792K tons in 2016; however, from 2017 to 2024, production stood at a somewhat lower figure.

In value terms, ferro-alloys production contracted modestly to $1.1B in 2024. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the production volume increased by 43%. Ferro-alloys production peaked at $1.9B in 2016; however, from 2017 to 2024, production stood at a somewhat lower figure.

Ferro-chromium (316K tons), ferro-silicon (300K tons) and ferro-titanium and ferro-silico-titanium (9.3K tons) were the main products of ferro-alloys production in the United States, together comprising 99.9% of the total output.

From 2013 to 2024, the biggest increases were recorded for ferro-chromium (with a CAGR of +0.5%), while production for the other products experienced mixed trend patterns.

In value terms, the most produced types of ferro-alloys in the United States were ferro-silicon ($543M), ferro-chromium ($512M) and ferro-titanium and ferro-silico-titanium ($48M).

Among the main produced products, ferro-silicon, with a CAGR of +1.8%, saw the highest rates of growth with regard to market size over the period under review, while production for the other products experienced a decline.

In 2024, supplies from abroad of ferro-alloys decreased by -2.4% to 1.1M tons, falling for the second year in a row after two years of growth. In general, imports saw a pronounced descent. The most prominent rate of growth was recorded in 2021 when imports increased by 61%. Over the period under review, imports reached the peak figure at 1.6M tons in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In value terms, ferro-alloys imports fell sharply to $2.2B in 2024. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 100% against the previous year. Over the period under review, imports attained the maximum at $4.3B in 2022; however, from 2023 to 2024, imports failed to regain momentum.

South Africa (394K tons), Malaysia (202K tons) and Georgia (133K tons) were the main suppliers of ferro-alloys imports to the United States, together accounting for 65% of total imports.

From 2013 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +231.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, South Africa ($455M), Brazil ($450M) and Kazakhstan ($321M) were the largest ferro-alloys suppliers to the United States, with a combined 46% share of total imports. Canada, Malaysia, Russia, Georgia, Norway, India, Finland and Australia lagged somewhat behind, together accounting for a further 52%.

Among the main suppliers, Malaysia, with a CAGR of +185.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Ferro-chromium (332K tons), ferro-manganese (304K tons) and ferro-silico-manganese (198K tons) were the main products of ferro-alloys imports to the United States, with a combined 76% share of total imports. Ferro-silicon, miscellaneous ferro-alloys, ferro-molybdenum and ferro-titanium and ferro-silico-titanium lagged somewhat behind, together accounting for a further 24%.

From 2013 to 2024, the biggest increases were recorded for ferro-molybdenum (with a CAGR of +2.5%), while purchases for the other products experienced mixed trend patterns.

In value terms, miscellaneous ferro-alloys ($508M), ferro-chromium ($502M) and ferro-manganese ($373M) were the most imported types of ferro-alloys in the United States, together comprising 64% of total imports. Ferro-silicon, ferro-molybdenum, ferro-silico-manganese and ferro-titanium and ferro-silico-titanium lagged somewhat behind, together accounting for a further 36%.

Among the main product categories, ferro-molybdenum, with a CAGR of +7.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced mixed trend patterns.

The average ferro-alloys import price stood at $1,973 per ton in 2024, declining by -16.4% against the previous year. Over the period under review, import price indicated a mild expansion from 2013 to 2024: its price increased at an average annual rate of +1.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, ferro-alloys import price decreased by -25.5% against 2022 indices. The most prominent rate of growth was recorded in 2017 an increase of 28%. Over the period under review, average import prices attained the peak figure at $2,649 per ton in 2022; however, from 2023 to 2024, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplied products. In 2024, the product with the highest price was ferro-molybdenum ($30,717 per ton), while the price for ferro-silico-manganese ($1,049 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by ferro-molybdenum (+5.1%), while the prices for the other products experienced more modest paces of growth.

In 2023, the average ferro-alloys import price amounted to $2,361 per ton, dropping by -10.8% against the previous year. Overall, import price indicated a measured increase from 2013 to 2023: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-alloys import price increased by +39.8% against 2020 indices. The growth pace was the most rapid in 2017 when the average import price increased by 28%. The import price peaked at $2,649 per ton in 2022, and then shrank in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Canada ($5,917 per ton), while the price for Australia ($981 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Kazakhstan (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, overseas shipments of ferro-alloys decreased by -14.3% to 61K tons, falling for the second year in a row after two years of growth. Overall, exports showed a perceptible slump. The pace of growth appeared the most rapid in 2021 with an increase of 94% against the previous year. Over the period under review, the exports reached the maximum at 103K tons in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

In value terms, ferro-alloys exports shrank notably to $134M in 2024. Over the period under review, exports recorded a perceptible decline. The pace of growth appeared the most rapid in 2021 with an increase of 106% against the previous year. Over the period under review, the exports hit record highs at $248M in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

Canada (51K tons) was the main destination for ferro-alloys exports from the United States, with a 73% share of total exports. Moreover, ferro-alloys exports to Canada exceeded the volume sent to the second major destination, Malaysia (8.8K tons), sixfold. Mexico (8.3K tons) ranked third in terms of total exports with a 12% share.

From 2013 to 2023, the average annual growth rate of volume to Canada amounted to -3.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+49.6% per year) and Mexico (-3.9% per year).

In value terms, Canada ($120M) remains the key foreign market for ferro-alloys exports from the United States, comprising 67% of total exports. The second position in the ranking was taken by Mexico ($28M), with a 15% share of total exports. It was followed by Malaysia, with a 13% share.

From 2013 to 2023, the average annual growth rate of value to Canada amounted to +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-2.7% per year) and Malaysia (+58.3% per year).

Ferro-chromium (16K tons), ferro-silico-manganese (16K tons) and miscellaneous ferro-alloys (13K tons) were the main products of ferro-alloys exports from the United States, with a combined 73% share of total exports.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by miscellaneous ferro-alloys (with a CAGR of +3.7%), while the other products experienced more modest paces of growth.

In value terms, miscellaneous ferro-alloys ($57M) remains the largest type of ferro-alloys exported from the United States, comprising 43% of total exports. The second position in the ranking was taken by ferro-silico-manganese ($20M), with a 15% share of total exports. It was followed by ferro-silicon, with a 15% share.

From 2013 to 2024, the average annual rate of growth in terms of the value of miscellaneous ferro-alloys exports amounted to +1.0%. With regard to the other exported products, the following average annual rates of growth were recorded: ferro-silico-manganese (+3.6% per year) and ferro-silicon (-8.3% per year).

The average ferro-alloys export price stood at $2,207 per ton in 2024, shrinking by -12.4% against the previous year. Over the period under review, export price indicated a modest increase from 2013 to 2024: its price increased at an average annual rate of +1.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, ferro-alloys export price decreased by -25.0% against 2021 indices. The pace of growth was the most pronounced in 2015 an increase of 37% against the previous year. Over the period under review, the average export prices attained the peak figure at $3,330 per ton in 2018; however, from 2019 to 2024, the export prices remained at a lower figure.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was ferro-molybdenum ($21,538 per ton), while the average price for exports of ferro-chromium ($1,182 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: ferro-manganese (+29.4%), while the prices for the other products experienced more modest paces of growth.

In 2023, the average ferro-alloys export price amounted to $2,520 per ton, with a decrease of -1.9% against the previous year. Overall, export price indicated noticeable growth from 2013 to 2023: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, ferro-alloys export price decreased by -14.4% against 2021 indices. The pace of growth appeared the most rapid in 2015 an increase of 37%. The export price peaked at $3,330 per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the Netherlands ($6,573 per ton), while the average price for exports to Canada ($2,329 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the ferro-alloys market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

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The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

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The Largest Producers on The Market and Their Profiles