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Ferromanganese Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 140 Pages
SKU # FOB19224248

Description

Ferromanganese Market



Growth Factors of Ferromanganese Market

The ferromanganese market size was valued at USD 79.27 billion in 2023, and the market is now projected to grow from USD 82.16 billion in 2024 to USD 112.34 billion by 2032, exhibiting a CAGR of 4% during the forecast period of 2023-2030.

The pandemic has pretentious many mining industries. The import and export restrictions have interrupted both demand and supply of the manganese ore. The countrywide lockdown measures had a significant impact on the global pricing of raw material. The turn down in the steel industry and disruption in the supply chain has reduced the order for these ferroalloys. Thus, the ferromanganese market growth has hindered during the COVID-19 pandemic.

The ferromanganese market share globally is increasing owing to the expanding necessity for stainless steel in the construction industry. This stainless steel is an essential substance used in the construction industry. They provide an excellent corrosion-resistant, toughness, and offer fine strength properties and support to building structures. Such steel in construction is commonly used in architectural cladding, handrails, roofing, drainage and water systems, and fixings. Steel is an energy-efficient material because of its heat radiations quickly from steel roofing and creates a cooler home environment in hot climate areas. In cold climates, double steel panel walls are well insulated to hold the heat.

A trend is that the duplex process is considered more sustainable than the commercial production process. The commercial production of FeMn is through the carbothermic smelting-reduction of manganese (Mn) ores by means of blast furnace (BF) and submerged arc furnace (SAF) technologies. Metallurgical coke is the primary solid carbon reductant that is utilized in SAF technology. The integrated duplex method that consists of natural gas is injected into molten FeMn yielding hydrogen and carbon. The dissolved carbon into the molten metal bath decreases magnesium oxide (MnO) from a coexisting molten slag that is formed from the smelting of Mn ore.

Comprehensive Analysis of Ferromanganese Market

The ferromanganese 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 metals & minerals industry. These segmentations are methodically segregated by types of grade and application. The grade includes high carbon, medium carbon, and low carbon ferromanganese. Similarly, the applications are iron & steel, alloy steel, and others.

The Asia Pacific region is conducive to the global ferromanganese market, leading to a recall of USD 31.49 billion owing to the presence of major manganese alloy producing countries such as China, Japan, and India are witnessing a high demand from the steel industry as an alloying element. These alloying elements are extensively used as construction components for developing infrastructure and rapid urbanization.

The top players in the market play a critical role in the chemicals & advanced materials industry assuring industrial prospectus growth and setting market standards. These players are Monnet Group (India), Maithan Alloys Limited (India),), Gulf Manganese Corporation Limited (Western Australia), Tata Steel (India), Vale (Brazil), Ferroglobe (U.K.), OM Holdings Ltd. (Singapore), South32 (Australia), and Nippon Denko (Japan), these market players present a level-playing competitive landscape.

In April 2022, Tata steel’s subsidiary company Tata Steel Mining Ltd announced that it had completed the acquisring 90% of Rohit Ferro-Tech Limited. The aim of this acquisition is to facilitate Tata steel for enhancing, diversifying their product portfolio, and increasing their shares.

Segmentation Table

Global Ferromanganese 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 4% from 2024 to 2032

Unit Value (USD Billion); Volume (Kiloton)

Segmentation By Grade
  • High Carbon FeMn
  • Medium Carbon FeMn
  • Low Carbon FeMn
By Application
  • Iron & Steel
  • Alloy Steel
  • Others
By Region
  • North America (By Grade, By Application, By Country)
  • U.S.
  • Canada
  • Mexico
  • Europe (By Grade, By Application, By Country)
  • Germany
  • U.K.
  • France
  • Italy
  • Rest of Europe
  • Asia Pacific (By Grade, By Application, By Country)
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia Pacific
  • Latin America (By Grade, By Application, By Country)
  • Brazil
  • Rest of Latin America
  • The Middle East & Africa (By Grade, By Application, By Country)
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa


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Table of Contents

140 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 Emerging Trends – For Major Regions
4.2. Latest Technological Advancement
4.3. Regulatory Analysis
4.4. Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
4.5. Impact of COVID-19 on Global Market
5. Global Ferromanganese Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. By Grade (Volume/Value)
5.2.1. High Carbon Ferromanganese
5.2.2. Medium Carbon Ferromanganese
5.2.3. Low Carbon Ferromanganese
5.3. By Application (Volume/Value)
5.3.1. Iron and Steel
5.3.2. Alloy Steel
5.3.3. Others
5.4. By Region (Volume/Value)
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 Ferromanganese Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. By Grade (Volume/Value)
6.2.1. High Carbon Ferromanganese
6.2.2. Medium Carbon Ferromanganese
6.2.3. Low Carbon Ferromanganese
6.3. By Application (Volume/Value)
6.3.1. Iron and Steel
6.3.2. Alloy Steel
6.3.3. Others
6.4. By Country (Volume/Value)
6.4.1. U.S.
6.4.2. Canada
6.4.3. Mexico
7. Europe Ferromanganese Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. By Grade (Volume/Value)
7.2.1. High Carbon Ferromanganese
7.2.2. Medium Carbon Ferromanganese
7.2.3. Low Carbon Ferromanganese
7.3. By Application (Volume/Value)
7.3.1. Iron and Steel
7.3.2. Alloy Steel
7.3.3. Others
7.4. By Country (Volume/Value)
7.4.1. Germany
7.4.2. U.K.
7.4.3. France
7.4.4. Italy
7.4.5. Rest of Europe
8. Asia-Pacific Ferromanganese Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. By Grade (Volume/Value)
8.2.1. High Carbon Ferromanganese
8.2.2. Medium Carbon Ferromanganese
8.2.3. Low Carbon Ferromanganese
8.3. By Application (Volume/Value)
8.3.1. Iron and Steel
8.3.2. Alloy Steel
8.3.3. Others
8.4. By Country (Value)
8.4.1. China
8.4.2. India
8.4.3. Japan
8.4.4. Australia
8.4.5. Rest of Asia Pacific
9. Latin America Ferromanganese Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. By Grade (Volume/Value)
9.2.1. High Carbon Ferromanganese
9.2.2. Medium Carbon Ferromanganese
9.2.3. Low Carbon Ferromanganese
9.3. By Application (Volume/Value)
9.3.1. Iron and Steel
9.3.2. Alloy Steel
9.3.3. Others
9.4. By Country (Volume/Value)
9.4.1. Brazil
9.4.2. Rest of Latin America
10. Middle East & Africa Ferromanganese Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. By Grade (Volume/Value)
10.2.1. High Carbon Ferromanganese
10.2.2. Medium Carbon Ferromanganese
10.2.3. Low Carbon Ferromanganese
10.3. By Application (Volume/Value)
10.3.1. Iron and Steel
10.3.2. Alloy Steel
10.3.3. Others
10.4. By Country (Value)
10.4.1. Saudi Arabia
10.4.2. South Africa
10.4.3. Rest of Middle East & Africa
11. Competitive Analysis
11.1. Global Market Share/Ranking Analysis, By Key Manufacturer
11.2. Company Profiles
11.2.1. Monnet Group
11.2.1.1. Overview
11.2.1.2. Description
11.2.1.3. Product Portfolio
11.2.1.4. Financials (As per Availability)
11.2.1.5. Recent Developments
11.2.2. Maithan Alloys Limited
11.2.2.1. Overview
11.2.2.2. Description
11.2.2.3. Product Portfolio
11.2.2.4. Financials (As per Availability)
11.2.2.5. Recent Developments
11.2.3. Tata Steel
11.2.3.1. Overview
11.2.3.2. Description
11.2.3.3. Product Portfolio
11.2.3.4. Financials (As per Availability)
11.2.3.5. Recent Developments
11.2.4. Gulf Manganese Corporation Limited
11.2.4.1. Overview
11.2.4.2. Description
11.2.4.3. Product Portfolio
11.2.4.4. Financials (As per Availability)
11.2.4.5. Recent Developments
11.2.5. Vale
11.2.5.1. Overview
11.2.5.2. Description
11.2.5.3. Product Portfolio
11.2.5.4. Financials (As per Availability)
11.2.5.5. Recent Developments
11.2.6. Ferroglobe
11.2.6.1. Overview
11.2.6.2. Description
11.2.6.3. Product Portfolio
11.2.6.4. Financials (As per Availability)
11.2.6.5. Recent Developments
11.2.7. OM Holdings Ltd.
11.2.7.1. Overview
11.2.7.2. Description
11.2.7.3. Product Portfolio
11.2.7.4. Financials (As per Availability)
11.2.7.5. Recent Developments
11.2.8. South32
11.2.8.1. Overview
11.2.8.2. Description
11.2.8.3. Product Portfolio
11.2.8.4. Financials (As per Availability)
11.2.8.5. Recent Developments
11.2.9. Nippon Denko
11.2.9.1. Overview
11.2.9.2. Description
11.2.9.3. Product Portfolio
11.2.9.4. Financials (As per Availability)
11.2.9.5. Recent Developments
12. Strategic Recommendations
13.

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