Submerged Arc Furnace Market Leading Players Envisioned By The Analysts Forecast

Submerged Arc Furnace: Introduction

Submerged arc furnace is a type of electric furnace mainly used for production of phosphorous and ferroalloys. The major function of a furnace is to reduce the metal level in slag. The global submerged arc furnace market is anticipated to show significant growth in the coming years owing to numerous applications in chemical and metallurgical industry such as extraction of ferroalloy, phosphorus, and other non-ferrous elements, recycling of metals etc. Submerged arc furnaces are the most commonly used furnace type for slag cleaning operations and for increasing metal recoveries.
The global submerged arc furnace market is anticipated to expand at a rapid pace during the forecast period, owing to increased demand for submerged arc furnace mainly in developing countries across Asia Pacific and in Middle East & Africa.

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Key Drivers of the Global Submerged Arc Furnace Market

Increasing metal extraction industries and other refineries across the globe, and advancement in furnace technology are anticipated to be key factors driving the global submerged arc furnace market during the forecast period.
Moreover, rising industrialization and urbanization is surging the demand for submerged arc furnaces. This is expected to fuel the market during the forecast period.
Companies operating in the global submerged arc furnace market are investing to expand their product portfolios and improve their distribution networks. They have adopted several business strategies such as development of new products, mergers and acquisitions, joint ventures, and expansion to cater to the increasing demand for submerged arc furnaces in different regions. For instance, SMS group GmbH, a major machine and plants supplier for nonferrous and steel industry provides modification in machines or plants with upgraded technology, which is expected to help the company increase its customer base.

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