Industry Background:
Ferrochrome depicts noncorrosive properties to stainless steel that offers strength, toughness and temperature stability. Ferrochrome market is expected to mark significant growth over forecasted period owing to increasing consumers spending for stainless steel, huge amount of electricity and technological advancement. The major companies are adding more proven technologies systematically and strategically in Asia-Pacific countries as these countries are focused on fastest-growing verticals in the industrial and construction industries. Further, increasing demand for the Ferrochrome expected to drive the market growth over the forecasted period.
According to AMA, the market for Ferrochrome is expected to register a CAGR of 7.21% during the forecast period to 2026. This growth is primarily driven by Increase Number of industrial activities Boost the ferrochrome Market. and Rapid Demand of production for stainless steel Fuelled up the ferrochrome Market..
Globally, a noticeable market trend is evident Value Oriented Consumers
. The Steel sector in the Asia Pacific region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as GLENCORE (Switzerland), Fondel Corporation (The Netherlands), ICT Group (The Netherlands), ZIMASCO (Zimbabwe), ZimAlloys (Zimbabwe), Maranatha Ferrochrome (Zimbabwe), Oliken Ferroalloys (Zimbabwe), Vargon Alloys (Sweden), Indsil (India), Harsco (United States), Vipul Corporation (India), Westbrook Resources Ltd (United Kingdom), Ferro Alloys Corporation Limited (FACOR) (India) and S.C. Feral S.R.L (Romania) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In March 2018, Samancor planned to bid for hernic acquisition with a deal of USD 42.4 million. It is beneficial in providing three chrome ore mines, four ferro-chrome smelters, an ore benefication plant, a platinum group metals concentrator plant, a slag recovery plant and surface tailings.
Market Drivers
- Increase Number of industrial activities Boost the ferrochrome Market.
- Rapid Demand of production for stainless steel Fuelled up the ferrochrome Market.
Market Trend
- Value Oriented Consumers
- Collaboration and Tie Up Of Leading Players
Restraints
- High cost related to electricity consumption hampers the Ferrochrome Market.
- Rise in production cost restrain the ferrochrome market.
Opportunities
Proliferation of Ferrochrome Production at Asia-Pacific Regions Leads to Grow the Market. and Rise in Investments at Automobiles and Construction Sector for Ferrochrome.
Challenges
Limitation due to Government Regulations on Ferrochrome are Anticipated to Challenge the Market.
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Ferrochrome Study Sheds Light on
The Ferrochrome Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Ferrochrome industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Ferrochrome industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.