Northern America: Ferro-Silicon Market 2024

Ferro-Silicon Market Size in Northern America

The North American ferro-silicon market soared to $X in 2022, surging by 20% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +43.5% against 2019 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Ferro-Silicon Production in Northern America

In value terms, ferro-silicon production expanded significantly to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +24.8% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 36% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Ferro-Silicon Exports

Exports in Northern America

In 2022, ferro-silicon exports in Northern America skyrocketed to X tons, picking up by 47% on the year before. Over the period under review, exports, however, showed a slight descent. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, ferro-silicon exports skyrocketed to $X in 2022. Total exports indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +130.8% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Canada (X tons) was the largest exporter of ferro-silicon, generating 70% of total exports. It was distantly followed by the United States (X tons), constituting a 30% share of total exports.

Canada was also the fastest-growing in terms of the ferro-silicon exports, with a CAGR of +2.7% from 2012 to 2022. The United States (-6.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Canada increased by +22 percentage points.

In value terms, Canada ($X) remains the largest ferro-silicon supplier in Northern America, comprising 79% of total exports. The second position in the ranking was held by the United States ($X), with a 21% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Canada totaled +5.1%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, growing by 28% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.4%).

Ferro-Silicon Imports

Imports in Northern America

In 2022, supplies from abroad of ferro-silicon increased by 39% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, ferro-silicon imports surged to $X in 2022. In general, imports showed buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States prevails in imports structure, resulting at X tons, which was approx. 92% of total imports in 2022. It was distantly followed by Canada (X tons), committing a 7.7% share of total imports.

The United States was also the fastest-growing in terms of the ferro-silicon imports, with a CAGR of +1.3% from 2012 to 2022. Canada (-6.6%) illustrated a downward trend over the same period. While the share of the United States (+8.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Canada (-8.2 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported ferro-silicon in Northern America, comprising 94% of total imports. The second position in the ranking was taken by Canada ($X), with a 6.4% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States amounted to +10.0%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, rising by 55% against the previous year. Over the period under review, the import price continues to indicate a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+11.0%).

Source: IndexBox Platform

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