Scope of the Study
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%.
The market study is being classified by Type (High Carbon, Medium Carbon, Low Carbon and Ferro Silico Chrome), by Application (Stainless Steel, Cast Iron, Powder Metallurgy and Others) and major geographies with country level break-up.
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), Eurasian Resources Group (Luxembourg), International Ferro Metals Ltd. (Australia) and Tata Steel (India) are some of the key players profiled in the study.
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. Research Analyst at AMA predicts that India Vendors will contribute to the maximum growth of Global Ferro Chrome market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Ferro Chrome market by Type, Application and Region.
On the basis of geography, the market of Ferro Chrome has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increasing Production of Stainless Steel in Developing Economies Such as India and China
- Growing Manufacturing Activities is Fuelling the Market Growth
- Protectionist Policies Implemented by the Government to Boost Domestic Steel Production
- High Amount of Electricity Needed while Producing Ferro chrome
- Rising Foreign Investments is Boosting the Market
- Growing Industrialisation in Emerging Economies
- Rising Production Costs May Hamper the Market
Key Target AudienceManufacturers, Raw material suppliers, Government associations, Research organisations and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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