Ferrochrome is a ferro alloy with high content of manganese. It provides strength to steel and used in manufacturing of high tension steel. Low carbon ferro manganese is extensively used in manufacturing alloys steel, tool steels and structural steels. The “high carbon ferrochrome” is the fastest growing type segment due to its lower cost and availability of larger reserves than other products. Consequently, this high carbon ferrochrome is mostly consumed by stainless steel manufacturers.
Frequently Asked Questions
Asia-Pacific dominates the ferrochrome market in terms of market share and revenue. This is due to growing production of stainless steel in this region. In fact, as per the estimates of ISSF, Asia manufactured approximately 68% of stainless steel in 2018, with China being the leading manufacturer of stainless with a 52.6% share of global production.
China is expected to witness the highest CAGR in the global ferrochrome market. This growth is driven by rapid industrialization, increasing demand for stainless steel, and significant investments in the steel and construction sectors. The country’s expanding infrastructure projects, along with a strong focus on manufacturing and exports, further boost the demand for ferrochrome as a key component in steel production.
India is expected to dominate the global ferrochrome market, particularly in the Asia-Pacific region. This dominance is attributed to India’s large-scale industrial base, growing demand for stainless steel, and increasing investments in the steel industry. The country’s rapid industrialization, along with significant infrastructure developments and rising urbanization, fuels the demand for ferrochrome as a critical component in steel production.
Asia-Pacific dominates the ferrochrome market in terms of market share and revenue. This is due to growing production of stainless steel in this region. In fact, as per the estimates of ISSF, Asia manufactured approximately 68% of stainless steel in 2018, with China being the leading manufacturer of stainless with a 52.6% share of global production.
China is expected to witness the highest CAGR in the global ferrochrome market. This growth is driven by rapid industrialization, increasing demand for stainless steel, and significant investments in the steel and construction sectors. The country’s expanding infrastructure projects, along with a strong focus on manufacturing and exports, further boost the demand for ferrochrome as a key component in steel production.
