Ferrosilicon is produced by reduction of silica or sand with coke in the presence of iron ore. One of most common sources of iron are scrap iron. Ferro-silicon with silicon content up to about 15% is made in blast furnaces lined with acid fire bricks. Ferro-silicon with higher silicon content is made in electric arc furnaces. The usual formulations on the market are ferrosilicon with 15%, 45%, 75%, and 90% silicon. The remainder is iron, with about 2% consisting of other elements like aluminium and calcium. The demand for ferro alloys has been rising rapidly with that of alloy and special steels. The global ferroalloys market size was estimated at USD 44.9 billion in 2019 and is forecasted to grow a compound annual growth rate (CAGR) of 5.5% from 2020 to 2027. The global increase in steel production is an important factor driving the market growth. Ferroalloys impart special characteristics to steel such as improved hardness, resistance to corrosion, higher abrasion resistance, enhanced tensile strength at extreme temperatures and significant creep strength. Therefore, they represent significant raw materials to the iron and steel industry. China emerged as the leading player in the global market in 2019. China produced approximately 53% of the global crude steel in 2019, according to the World Steel Association. As a result, there is a massive demand for ferroalloys in China and other regions of world as well.