India: Ferro-Silicon Market 2025

Ferro-Silicon Market Size in India

In 2022, the Indian ferro-silicon market increased by 12% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a perceptible slump. Ferro-silicon consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ferro-Silicon Production in India

In value terms, ferro-silicon production reduced to $X in 2022 estimated in export price. Overall, production showed a pronounced setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by 10% against the previous year. Ferro-silicon production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Ferro-Silicon Exports

Exports from India

In 2022, shipments abroad of ferro-silicon increased by 69% to X tons, rising for the second consecutive year after two years of decline. Overall, exports continue to indicate a slight increase. The growth pace was the most rapid in 2021 with an increase of 71%. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, ferro-silicon exports surged to $X in 2022. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 137% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons), the Netherlands (X tons) and Egypt (X tons) were the main destinations of ferro-silicon exports from India, together accounting for 41% of total exports. Spain, the United States, Nigeria, Saudi Arabia, Libya, Slovenia, Mexico, Turkey, Qatar and Brazil lagged somewhat behind, together accounting for a further 34%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of +62.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ferro-silicon exported from India were Italy ($X), the Netherlands ($X) and Egypt ($X), together accounting for 39% of total exports. The United States, Libya, Spain, Slovenia, Nigeria, Saudi Arabia, Brazil, Turkey, Mexico and Qatar lagged somewhat behind, together comprising a further 35%.

Among the main countries of destination, Libya, with a CAGR of +75.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ferro-silicon export price stood at $X per ton in 2022, increasing by 26% against the previous year. Overall, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ferro-silicon export price increased by +59.4% against 2018 indices. The pace of growth was the most pronounced in 2021 an increase of 38%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Libya (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ferro-Silicon Imports

Imports into India

In 2022, supplies from abroad of ferro-silicon increased by 36% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, showed a mild shrinkage. The growth pace was the most rapid in 2016 with an increase of 64%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ferro-silicon imports surged to $X in 2022. Overall, imports, however, continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 56% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest ferro-silicon supplier to India, accounting for a 59% share of total imports. Moreover, ferro-silicon imports from China exceeded the figures recorded by the second-largest supplier, Norway (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+8.8% per year) and the Netherlands (+28.0% per year).

In value terms, China ($X) constituted the largest supplier of ferro-silicon to India, comprising 44% of total imports. The second position in the ranking was taken by Norway ($X), with a 9.5% share of total imports. It was followed by the Netherlands, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Norway (+7.9% per year) and the Netherlands (+26.3% per year).

Import Prices by Country

In 2022, the average ferro-silicon import price amounted to $X per ton, remaining stable against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 26% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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