Ferrochrome Market- Increase in Production of Stainless Steel Fuel the Demand for Ferrochrome Accelerating the Growth of the Global Market
As the industrialization of emerging economies including the Asia Pacific countries accelerates and the production of stainless steel increases, the demand for petrochrome increases, accelerating the growth of the global ferrochrome market. Demand for stainless steel is steadily increasing due to the increase in urbanization that complements market growth.
However, the ferro-chrome industry has not benefited from increased demand for stainless steel due to a number of issues such as increased production costs and excess iron chrome production. The large amount of electricity required in the ferrochrome production process inhibits market growth. Increasing ferrochrome production in China in recent years is expected to provide a favorable market opportunity
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Comprehensive competitive analysis and profiles of major market players such as
• Merafe Resources Limited
• Ferro Alloys Corporation Limited
• Hernic Ferrochrome (Pty) Ltd
• Samancor Chrome Limited
• Eurasian Resources Group
• International Ferro Metals Ltd.
• Tata Steel
• Mintal Group
• Shanxi Jiang County Minmetal Co. Ltd.
The report divides the ferrochrome market on the basis of type, application and geography. Depending on the type, the market is divided into high carbon, medium carbon, low carbon and reinforced silico chrome. The applications covered in this study include stainless steel, cast iron, and powder metallurgy. The geographical breakdown of the market includes North America, Europe, Asia Pacific and LAMEA.
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• This report provides a quantitative analysis of the current trends and estimations from 2017 to 2023 of the global ferrochrome market to identify the prevailing market opportunities.
• Major countries in each region are mapped according to individual market revenue.
• Comprehensive analysis of factors that drive and restrict the market growth is provided.
• The report includes an in-depth analysis of current research & clinical developments within the market is provided with key dynamic factors.
• Key players and their key developments in the recent years are listed.
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