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Ferrochrome Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 200 Pages
SKU # FOB19260721

Description

Ferrochrome Market



Growth Factors of Ferrochrome Market

The ferrochrome market size was valued at USD 16.92 billion in 2023, and the market is now projected to grow from USD 17.81 billion in 2024 to USD 26.55 billion by 2032, exhibiting a CAGR of 5.1% during the forecast period of 2023-2030.

The COVID-19 pandemic has affected the ferrochrome market growth. The lockdown measures had limited the flow of resources and products. The supply chain disruptions have decreased the production of finished goods. The labor and raw material shortages and strict government regulations have reduced demand for the materials. However, various companies have ramped up production to meet the growing demand for the solutions. The market has become stable because of rising acceptance of stainless steel.

The ferrochrome market share globally has been increased due to the high usage of the stainless steel industry to aid market expansion. Ferrochrome is added to stainless steel to advance its appearance and provide corrosion resistance. Chromium stainless steel and chromium manganese grade are generally employed in the construction and transportation industries. In addition, increasing consumption of this kind of steel in the construction industry is impelling the market to grow significantly. This material was not commonly utilized for building structural applications initially due to its expensiveness. Though, technological advancements have enhanced the steel more accessible and affordable while improving corrosion resistance and longevity.

The trend of growing foreign investments and manufacturing business is boosting the market growth. Increasing overseas investments and manufacturing works are escalating demand for stainless steel and generate great market growth opportunities. Foreign spending will boost the expansion of manufacturing industries such as construction, heavy equipment, consumer goods, and automotive. The rapid growth in the automotive sector will fuel the utilization of the product.

Comprehensive Analysis of Ferrochrome Market

The ferrochrome market and chemicals & advanced materials industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a thorough regional assessment considering the dominant supply and demand forces that impact the specialty & fine chemicals industry. These segmentations are methodically segregated by types of product type and application. The product types include high carbon, low carbon, and others. However, the applications are such as stainless steel, specialty steel, and others.

The Asia Pacific region is conducive to the global ferrochrome market, leading to a recall of USD 12.55 billion because of increasing product demand from stainless steel manufacturers in this region. The demand for stainless steel is growing steadily due to increasing urbanization and is complementing the market growth.

The top players in the market play a vital role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players include Tata Steel Mining Limited (India), Samancor Chrome (South Africa), TNC KAZCHROME JSC (Kazakhstan), Ferro Alloys Corporation Ltd.(FACOR) (India), HERNIC (South Africa), Eurasian Resources Group (Luxembourg), IMFA (India), Daido Steel Co., Ltd. (Japan), Sandvik AB (Sweden), Baosteel Group Corporation (China), these market players provide a level-playing competitive landscape.

In September 2023, the Indian Metals and Ferro Alloys Ltd. declared the news of strengthening of the existing ore mining capacity and building a new greenfield smelting capacity in Kalinganagar, Odisha. The aim of this step has been taken to fulfill the rising domestic demand for the product.

Segmentation Table

Global Ferrochrome Market Scope

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 5.1% from 2024 to 2032

Unit Value (USD Billion); Volume (Million Ton)

Segmentation By Product Type

High Carbon

Low Carbon

Others

By Application

Stainless Steel

Specialty Steel

Others

By Region

North America (By Product Type, By Application, By Country)
  • U.S. (By Application)
  • Canada (By Application)
Europe (By Product Type, By Application, By Country)
  • Germany (By Application)
  • Spain (By Application)
  • France (By Application)
  • Italy (By Application)
  • Rest of Europe (By Application)
Asia Pacific (By Product Type, By Application, By Country)
  • China (By Application)
  • India (By Application)
  • Japan (By Application)
  • South Korea (By Application)
  • Rest of East Asia (By Application)
Latin America (By Product Type, By Application, By Country)
  • Brazil (By Application)
  • Mexico (By Application)
  • Rest of Latin America (By Application)
Middle East & Africa (By Product Type, By Application, By Country)
  • GCC (By Application)
  • Iran (By Application)
Rest of Middle East & Africa (By Application)


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Table of Contents

200 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Trends
4.2. Key Developments
4.3. Insights on Regulatory Scenario
4.4. Latest Technological Advancements
4.5. Porters Five Forces Analysis
4.6. Impact of COVID-19 on Market
5. Global Ferrochrome Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. By Product Type (Value/Volume)
5.2.1. High Carbon
5.2.2. Low Carbon
5.2.3. Others
5.3. By Application (Value/Volume)
5.3.1. Stainless Steel
5.3.2. Specialty Steel
5.3.3. Others
5.4. By Region (Value/Volume)
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. Latin America
5.4.5. Middle East & Africa
6. North America Ferrochrome Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. By Product Type (Value/Volume)
6.2.1. High Carbon
6.2.2. Low Carbon
6.2.3. Others
6.3. By Application (Value/Volume)
6.3.1. Stainless Steel
6.3.2. Specialty Steel
6.3.3. Others
6.4. By Country (Value/Volume)
6.4.1. U.S.
6.4.1.1. By Application (Value/Volume)
6.4.1.1.1. Stainless Steel
6.4.1.1.2. Specialty Steel
6.4.1.1.3. Others
6.4.2. Canada
6.4.2.1. By Application (Value/Volume)
6.4.2.1.1. Stainless Steel
6.4.2.1.2. Specialty Steel
6.4.2.1.3. Others
7. Europe Ferrochrome Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. By Product Type (Value/Volume)
7.2.1. High Carbon
7.2.2. Low Carbon
7.2.3. Others
7.3. By Application (Value/Volume)
7.3.1. Stainless Steel
7.3.2. Specialty Steel
7.3.3. Others
7.4. By Country (Value/Volume)
7.4.1. Germany
7.4.1.1. By Application (Value/Volume)
7.4.1.1.1. Stainless Steel
7.4.1.1.2. Specialty Steel
7.4.1.1.3. Others
7.4.2. Spain
7.4.2.1. By Application (Value/Volume)
7.4.2.1.1. Stainless Steel
7.4.2.1.2. Specialty Steel
7.4.2.1.3. Others
7.4.3. France
7.4.3.1. By Application (Value/Volume)
7.4.3.1.1. Stainless Steel
7.4.3.1.2. Specialty Steel
7.4.3.1.3. Others
7.4.4. Italy
7.4.4.1. By Application (Value/Volume)
7.4.4.1.1. Stainless Steel
7.4.4.1.2. Specialty Steel
7.4.4.1.3. Others
7.4.5. Rest of Europe
7.4.5.1. By Application (Value/Volume)
7.4.5.1.1. Stainless Steel
7.4.5.1.2. Specialty Steel
7.4.5.1.3. Others
8. Asia-Pacific Ferrochrome Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. By Product Type (Value/Volume)
8.2.1. High Carbon
8.2.2. Low Carbon
8.2.3. Others
8.3. By Application (Value/Volume)
8.3.1. Stainless Steel
8.3.2. Specialty Steel
8.3.3. Others
8.4. By Country (Value/Volume)
8.4.1. China
8.4.1.1. By Application (Value/Volume)
8.4.1.1.1. Stainless Steel
8.4.1.1.2. Specialty Steel
8.4.1.1.3. Others
8.4.2. India
8.4.2.1. By Application (Value/Volume)
8.4.2.1.1. Stainless Steel
8.4.2.1.2. Specialty Steel
8.4.2.1.3. Others
8.4.3. Japan
8.4.3.1. By Application (Value/Volume)
8.4.3.1.1. Stainless Steel
8.4.3.1.2. Specialty Steel
8.4.3.1.3. Others
8.4.4. South Korea
8.4.4.1. By Application (Value/Volume)
8.4.4.1.1. Stainless Steel
8.4.4.1.2. Specialty Steel
8.4.4.1.3. Others
8.4.5. Rest of Asia Pacific
8.4.5.1. By Application (Value/Volume)
8.4.5.1.1. Stainless Steel
8.4.5.1.2. Specialty Steel
8.4.5.1.3. Others
9. Latin America Ferrochrome Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. By Product Type (Value/Volume)
9.2.1. High Carbon
9.2.2. Low Carbon
9.2.3. Others
9.3. By Application (Value/Volume)
9.3.1. Stainless Steel
9.3.2. Specialty Steel
9.3.3. Others
9.4. By Country (Value/Volume)
9.4.1. Brazil
9.4.1.1. By Application (Value/Volume)
9.4.1.1.1. Stainless Steel
9.4.1.1.2. Specialty Steel
9.4.1.1.3. Others
9.4.2. Mexico
9.4.2.1. By Application (Value/Volume)
9.4.2.1.1. Stainless Steel
9.4.2.1.2. Specialty Steel
9.4.2.1.3. Others
9.4.3. Rest of Latin America
9.4.3.1. By Application (Value/Volume)
9.4.3.1.1. Stainless Steel
9.4.3.1.2. Specialty Steel
9.4.3.1.3. Others
10. Middle East & Africa Ferrochrome Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. By Product Type (Value/Volume)
10.2.1. High Carbon
10.2.2. Low Carbon
10.2.3. Others
10.3. By Application (Value/Volume)
10.3.1. Stainless Steel
10.3.2. Specialty Steel
10.3.3. Others
10.4. By Country (Value/Volume)
10.4.1. GCC
10.4.1.1. By Application (Value/Volume)
10.4.1.1.1. Stainless Steel
10.4.1.1.2. Specialty Steel
10.4.1.1.3. Others
10.4.2. Iran
10.4.2.1. By Application (Value/Volume)
10.4.2.1.1. Stainless Steel
10.4.2.1.2. Specialty Steel
10.4.2.1.3. Others
10.4.3. Rest of Middle East & Africa
10.4.3.1. By Application (Value/Volume)
10.4.3.1.1. Stainless Steel
10.4.3.1.2. Specialty Steel
10.4.3.1.3. Others
11. Company Profiles
11.1. Tata Steel Mining Limited
11.1.1. Overview
11.1.2. Description
11.1.3. Product Portfolio
11.1.4. Financials (As per Availability)
11.1.5. Recent Developments
11.2. Samancor Chrome
11.2.1. Overview
11.2.2. Description
11.2.3. Product Portfolio
11.2.4. Financials (As per Availability)
11.2.5. Recent Developments
11.3. TNC KAZCHROME JSC
11.3.1. Overview
11.3.2. Description
11.3.3. Product Portfolio
11.3.4. Financials (As per Availability)
11.3.5. Recent Developments
11.4. Ferro Alloys Corporation Ltd.(FACOR)
11.4.1. Overview
11.4.2. Description
11.4.3. Product Portfolio
11.4.4. Financials (As per Availability)
11.4.5. Recent Developments
11.5. HERNIC
11.5.1. Overview
11.5.2. Description
11.5.3. Product Portfolio
11.5.4. Financials (As per Availability)
11.5.5. Recent Developments
11.6. Eurasian Resources Group
11.6.1. Overview
11.6.2. Description
11.6.3. Product Portfolio
11.6.4. Financials (As per Availability)
11.6.5. Recent Developments
11.7. IMFA
11.7.1. Overview
11.7.2. Description
11.7.3. Product Portfolio
11.7.4. Financials (As per Availability)
11.7.5. Recent Developments
11.8. Daido Steel Co., Ltd.
11.8.1. Overview
11.8.2. Description
11.8.3. Product Portfolio
11.8.4. Financials (As per Availability)
11.8.5. Recent Developments
11.9. Sandvik AB
11.9.1. Overview
11.9.2. Description
11.9.3. Product Portfolio
11.9.4. Financials (As per Availability)
11.9.5. Recent Developments
11.10. Baosteel Group Corporation
11.10.1. Overview
11.10.2. Description
11.10.3. Product Portfolio
11.10.4. Financials (As per Availability)
11.10.5. Recent Developments
12. Strategic Recommendations

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