Global Ferrochrome Market Insights & Forecast to 2028

Ferrochrome Market Statistics 2028

The size of the world market for ferrochromes, estimated at USD 16.77 billion in 2018, is expected to increase at a CAGR of 4.6% from 2019 to 2030. Globally rising stainless steel production is a key element in the market's expansion.

A form of ferroalloy, or mixture of iron and chromium, is ferrochromium (FeCr). Often, ferrochromium contains 50% to 70% chromium. Castings, stainless steel, and special steel are produced using it. In a typical ferrochrome manufacturing method, chromite is carbothermally reduced in an electric submerged arc furnace (SAF). Plus, the ferrochrome (FeCr) coating on stainless steel helps improve corrosion resistance and give it a better appearance. In stainless steel, FeCr concentration ranges from 10% to 18%, with 10% being the minimum. As the primary consumer of ferrochrome, the stainless steel sector has a significant impact on the supply and demand for FeCr.

In terms of the production side, this report researches the Ferrochrome capacity, production, growth rate, market share by manufacturers, and by region (region level and country level), from 2017 to 2022, and forecast to 2028. In terms of the sales side, this report focuses on the sales of Ferrochrome by region (region level and country level), by company, by Type, and by Application. from 2017 to 2022 and forecast to 2028.

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Ferrochrome Market Trends
Stainless steel is given a ferrochrome coating to increase corrosion resistance and enhance aesthetics. Stainless steel is driving the expansion of the ferrochrome industry on a global scale. The widespread use of stainless steel and chromium-grade steel in the transportation and construction sectors is expected to have a significant beneficial impact on the growth of the ferrochrome industry. Hence, it is anticipated that the main factor propelling the growth of the ferrochrome market during the forecast period will be the increased demand for stainless steel from the transportation, building, and metallurgical industries.

Due to increased industrialization, urbanisation, and population growth, the construction and building industry is expanding. Construction activity is increasing, and ferrochrome is a popular engineering alloy used in the production of bricks, the construction of pavements, and the production of aggregate for the concrete industry. It is often used into cement for building roadways. As a result, over the forecast period of 2022-2029, the expanding construction and building sector is anticipated to drive ferrochrome demand and promote market growth.

The need for stainless steel will rise due to rising foreign investments and increased manufacturing, which would also open up attractive chances for the expansion of the ferrochrome industry globally. Manufacturing sectors include consumer products, construction, heavy machinery, and automotive benefit from foreign investment expansion.

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Ferrochrome Market Share Analysis
Due to its dominance as the world's largest producer and consumer of FeCr, China controls a significant portion of the ferrochrome industry. To create ferrochrome, the suppliers in China are disorganised independent smelters who import chromite ore from nations like India, South Africa, and Turkey.

Ferrochrome Market By Type
High Carbon Type
Low Carbon Type
Others
Ferrochrome Market By Application
Stainless Steel
Engineering & Alloy Steel
Others
Consequences of Covid-19 Pandemic
The authors of this study have enlightened the readers on the rise and effect of the Covid-19 outbreak on the development. They have investigated the changes brought about in the demand/supply side, consumption, supply chain, and production/manufacturing. The readers will get familiar with the measures that have helped the key players to bring the Ferrochrome market back to the pre-covid levels.

Trends & Prospects
In this segment of the report, the specialists have delved into the key growth opportunities that are likely to emerge. This will aid the key players to simplify complex issues related to business and framing future strategies to compete in this competitive environment. This section will certainly assist the players in boldly positioning their business.

Ferrochrome Market Production By Region
North America
Europe
Middle East & Africa
Japan
China
India
Ferrochrome Market Consumption By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
U.A.E
Competitive Scenario
In this section of the report, the researchers have done a comprehensive analysis of the prominent players operating and the strategies they are focusing on to combat the intense competition. Company profiles and share analysis of the prominent players are also provided in this section. They have also provided reliable sales and revenue data of the manufacturers for the period 2017-2022. With the assistance of this report, key players, stakeholders, and other participants will be able to stay abreast of the recent and upcoming developments in the business, further enabling them to make efficient choices.

Ferrochrome Market By Companies
Glencore-Merafe
Eurasian Resources Group
Samancor Chrome
Hernic Ferrochrome
IFM
FACOR
Mintal Group
Tata Steel
IMFA
Shanxi Jiang County Minmetal
Jilin Ferro Alloys
Ehui Group
Outokumpu

Scope of the Ferrochrome Market Report

Segments covered Type, Application and Region
Report coverage Revenue & volume forecast, company share, competitive landscape, growth factors, and trends
Geographic regions covered North America, Europe, Asia Pacific, Latin America, Middle East & Africa

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