Increased Demand Avenues from Automotive Sector Fuel Expansion of Noble Ferroalloys Market: TMR
-
Global noble ferroalloys market is likely to gather promising demand opportunities during assessment period of 2019 to 2027. This growth can be attributed to increased use of ferroalloys in automotive sector
-
On regional front, Asia Pacific noble ferroalloys market is likely to show promising expansion avenues in the forthcoming years
ALBANY, N.Y., Jan. 29, 2021 /PRNewswire/
Noble ferroalloys find wide application in the production of superalloys, steel, and stainless steel. Thus, the steel industry uses almost 80% of the manufactured noble ferroalloys from across the globe.
Analysts at Transparency Market Research (TMR) note the global noble ferroalloys market is likely to demonstrate growth at a decent CAGR during the tenure of 2019 to 2027 and gather the valuation of ~ US$ 68 Bn by the end of assessment period. In 2018, the noble ferroalloys market was valued at ~US$ 32 Bn.