Ferro-Silico-Manganese Market

The article provides detailed insights into the global ferro-silico-manganese market trends from 2022 to 2030. It forecasts an upward consumption trend with a projected CAGR of +1.4% for the period, expecting the market volume to reach 7.3M tons and the market value to reach $9.3B by the end of 2030. Consumption and production have shown fluctuations over the years, with notable growth rates observed in countries like Australia and Russia. The article also discusses import and export trends, highlighting major exporting and importing countries, along with average prices and growth rates. Overall, the global ferro-silico-manganese market is expected to see steady growth in the coming years.

Market Forecast

Driven by increasing demand for ferro-silico-manganese worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.4% for the period from 2022 to 2030, which is projected to bring the market volume to 7.3M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.9% for the period from 2022 to 2030, which is projected to bring the market value to $9.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Ferro-Silico-Manganese

In 2022, consumption of ferro-silico-manganese increased by 0.8% to 6.5M tons, rising for the second consecutive year after two years of decline. In general, consumption recorded a relatively flat trend pattern. Over the period under review, global consumption reached the peak volume at 6.5M tons in 2018; afterwards, it flattened through to 2022.

The global ferro-silico-manganese market value rose to $8B in 2022, increasing by 4.4% 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). The market value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market reached the maximum level in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (826K tons), Ukraine (564K tons) and Russia (546K tons), with a combined 30% share of global consumption. The United States, South Africa, South Korea, Japan, Turkey, Italy, Brazil, Germany, Spain and Australia lagged somewhat behind, together comprising a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Australia (with a CAGR of +7.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest ferro-silico-manganese markets worldwide were China ($1.1B), Russia ($790M) and the United States ($747M), with a combined 33% share of the global market. Ukraine, Japan, South Korea, Turkey, Italy, Germany, Brazil, Spain, Australia and South Africa lagged somewhat behind, together comprising a further 35%.

Among the main consuming countries, Australia, with a CAGR of +8.2%, recorded the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of ferro-silico-manganese per capita consumption was registered in Ukraine (13 kg per person), followed by South Korea (6 kg per person), South Africa (5.6 kg per person) and Australia (5.5 kg per person), while the world average per capita consumption of ferro-silico-manganese was estimated at 0.8 kg per person.

From 2012 to 2022, the average annual rate of growth in terms of the ferro-silico-manganese per capita consumption in Ukraine totaled +5.1%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Korea (+2.9% per year) and South Africa (-7.1% per year).

Production

World Production of Ferro-Silico-Manganese

In 2022, production of ferro-silico-manganese increased by less than 0.1% to 6.4M tons, rising for the second consecutive year after two years of decline. In general, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 4.5% against the previous year. Over the period under review, global production attained the peak volume at 6.5M tons in 2018; however, from 2019 to 2022, production failed to regain momentum.

In value terms, ferro-silico-manganese production fell to $5.5B in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 53%. Global production peaked at $6.2B in 2021, and then contracted in the following year.

Production By Country

The countries with the highest volumes of production in 2022 were India (1.3M tons), China (924K tons) and Ukraine (852K tons), with a combined 48% share of global production. South Africa, Russia, Georgia, Norway, Malaysia, Brazil, South Korea, Zambia, Mexico and Australia lagged somewhat behind, together comprising a further 42%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the leading producing countries, was attained by Russia (with a CAGR of +11.0%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Ferro-Silico-Manganese

Global ferro-silico-manganese imports declined slightly to 3.7M tons in 2022, remaining constant against the year before. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports reached the peak of 3.7M tons, and then reduced in the following year.

In value terms, ferro-silico-manganese imports amounted to $5.7B in 2022. Overall, imports, however, showed a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of 75%. Global imports peaked in 2022 and are likely to continue growth in years to come.

Imports By Country

In 2022, the United States (438K tons), followed by Japan (270K tons), Italy (269K tons), Turkey (249K tons), Poland (207K tons) and Germany (198K tons) represented the main importers of ferro-silico-manganese, together constituting 44% of total imports. The following importers - Russia (136K tons), the Netherlands (135K tons), the United Arab Emirates (116K tons), South Korea (107K tons), Taiwan (Chinese) (103K tons), Egypt (100K tons) and Indonesia (90K tons) - together made up 21% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +26.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest ferro-silico-manganese importing markets worldwide were the United States ($827M), Italy ($422M) and Turkey ($420M), together comprising 29% of global imports. Japan, Germany, Poland, Russia, the Netherlands, Egypt, South Korea, the United Arab Emirates, Taiwan (Chinese) and Indonesia lagged somewhat behind, together comprising a further 38%.

Indonesia, with a CAGR of +28.3%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average ferro-silico-manganese import price stood at $1,560 per ton in 2022, increasing by 15% against the previous year. In general, import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-silico-manganese import price increased by +59.8% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by 48%. Global import price peaked in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($1,890 per ton), while the United Arab Emirates ($1,223 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+4.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Ferro-Silico-Manganese

In 2022, approx. 3.6M tons of ferro-silico-manganese were exported worldwide; with a decrease of -2.4% against the previous year's figure. The total export volume increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 29%. As a result, the exports reached the peak of 3.7M tons, and then reduced in the following year.

In value terms, ferro-silico-manganese exports rose significantly to $5.2B in 2022. Over the period under review, exports, however, showed prominent growth. The growth pace was the most rapid in 2021 with an increase of 82% against the previous year. The global exports peaked in 2022 and are expected to retain growth in years to come.

Exports By Country

India was the major exporter of ferro-silico-manganese in the world, with the volume of exports amounting to 1.2M tons, which was approx. 34% of total exports in 2022. It was distantly followed by Norway (318K tons), Ukraine (299K tons), Malaysia (280K tons), Georgia (230K tons) and the Netherlands (172K tons), together making up a 36% share of total exports. The following exporters - Italy (150K tons), Zambia (148K tons), South Africa (133K tons), China (111K tons), Kazakhstan (102K tons), France (70K tons) and Poland (63K tons) - together made up 22% of total exports.

Exports from India increased at an average annual rate of +3.1% from 2012 to 2022. At the same time, Malaysia (+93.0%), Zambia (+71.8%), China (+40.7%), Poland (+33.0%), Italy (+25.5%), South Africa (+11.2%), the Netherlands (+4.8%), France (+3.3%) and Norway (+1.4%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in the world, with a CAGR of +93.0% from 2012-2022. Georgia experienced a relatively flat trend pattern. By contrast, Ukraine (-5.8%) and Kazakhstan (-10.7%) illustrated a downward trend over the same period. While the share of Malaysia (+7.8 p.p.), Zambia (+4.1 p.p.), Italy (+3.7 p.p.), India (+3.6 p.p.), China (+3 p.p.), South Africa (+2.1 p.p.) and Poland (+1.6 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Kazakhstan (-7.9 p.p.) and Ukraine (-10.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($1.6B) remains the largest ferro-silico-manganese supplier worldwide, comprising 31% of global exports. The second position in the ranking was held by Norway ($476M), with a 9.1% share of global exports. It was followed by Georgia, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +5.5%. In the other countries, the average annual rates were as follows: Norway (+3.0% per year) and Georgia (+5.7% per year).

Export Prices By Country

The average ferro-silico-manganese export price stood at $1,464 per ton in 2022, increasing by 11% against the previous year. In general, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-silico-manganese export price increased by +57.2% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 49%. The global export price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Georgia ($1,971 per ton), while Zambia ($1,163 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Georgia (+5.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform