Global Ferro Chrome Market Overview:
Ferrochrome, or Ferrochromium (FeCr) is one type of ferroalloy, between chromium and iron, and contains 50% to 70% chromium by weight. Production of ferrochrome is done by electric arc carbothermic reduction of chromite. Most of the ferrochrome in the world is produced in South Africa, Kazakhstan and India, that have large domestic chromite resources. The amounts are increasing in Russia and China. Moreover, the ferrochrome is largely consumed in the –production of steel, especially the production of stainless steel with chromium content of 10 to 20%.
As per latest study released by AMA Research, the Global Ferro Chrome market is expected to see growth rate of 8.2%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Protectionist Policies Implemented by the Government to Boost Domestic Steel Production
Market Growth Drivers:
Increasing Production of Stainless Steel in Developing Economies Such as India and China and Growing Manufacturing Activities is Fuelling the Market Growth
Challenges:
Rising Production Costs May Hamper the Market
Restraints:
High Amount of Electricity Needed while Producing Ferro chrome
Opportunities:
Rising Foreign Investments is Boosting the Market and Growing Industrialisation in Emerging Economies
Competitive Landscape:
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Glencore (South Africa), Samancor Chrome (South Africa), Jindal Steel & Power Ltd. (India), TNC Kazchrome JSC (Kazakhstan), Merafe Resources Limited (South Africa), Ferro Alloys Corporation Limited (India), Hernic Ferrochrome (Pty) Ltd (South Africa) and Eurasian Resources Group (Luxembourg). Additionally, following companies can also be profiled that are part of our coverage like International Ferro Metals Ltd. (Australia) and Tata Steel (India). Analyst at AMA Research see India Vendors to retain maximum share of Global Ferro Chrome market by 2030. Considering Market by Industry vertical, the sub-segment i.e. Automotive will boost the Ferro Chrome market.
Latest Market Insights:
In March 2023,Ferrochrome Furnace Ltd by its subsidiary Ironveld Smelting Ltd is now unconditional in all respects. Ferrochrome will, in accordance with the Companies Act of South Africa, be taken out of Business Rescue in the coming days and the transaction will close in accordance with its terms
In October 2023, Tata Steel Ferro alloys and mineral Division launched the trial run of the electrical vehicle for movement of the of both ferro chrome and reductant for its shorter haual Sectors.
What Can be Explored with the Ferro Chrome Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Ferro Chrome Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Ferro Chrome
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Ferro Chrome market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Ferro Chrome market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturers, Raw material suppliers, Government associations, Research organisations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.