Ferrochrome market size to grow by 2,979.59 thousand tons from 2022 to 2027, APAC to account for 75% of global market growth - Technavio

NEW YORK, May 1, 2023 /PRNewswire/ -- The ferrochrome market is expected to grow by 2,979.59 thousand tons from 2022 to 2027, progressing at a CAGR of 4.39%. APAC is expected to account for 75% of the growth of the global market during the forecast period. The growth of the market in the region is attributed to factors such as the rising demand for ferrochrome from China, Japan, South Korea, India, and Malaysia. Ferrochrome is used in the production of stainless steel and other alloy steel. More than 70% of global stainless-steel production occurs in APAC. Therefore, the rise in demand for stainless steel from the construction, transportation, and metallurgical industries will drive the growth of the market. The demand for ferrochrome in APAC is also led by a rise in infrastructure projects and construction activities. These factors will drive the growth of the ferrochrome market in the region during the forecast period. For more key insights on market size and other illustrations - Request the sample report

Ferrochrome market: Segmentation analysis

Technavio has segmented the ferrochrome market by product (charge chrome and high carbon, low carbon, and medium carbon), end-user (stainless steel, carbon and other alloys, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America). The report provides actionable insights and estimates the contribution of all segments to the growth of the global ferrochrome market.

• The charge chrome and high carbon segment will account for a significant share of market growth during the forecast period. Charge chrome and high carbon ferrochrome provide high hardenability, temperature stability, and corrosion resistance. Charge chrome ferrochrome is generally used in the production of stainless steel. The rise in the use of charge chrome and high carbon ferrochrome for the production of stainless steel is expected to drive the ferrochrome market growth during the forecast period.

Download a sample report

Ferrochrome market: Key factor driving market growth

The increasing demand for ferrochrome from developing countries is driving market growth. Ferrochrome is used in the production of stainless steel and other alloy steel, especially in developing countries. Therefore, various vendors are shifting their manufacturing sites to countries such as India, South Africa, China, and Zimbabwe. These countries offer advantages such as easy availability of raw materials, low-cost labor, low transportation costs, and less stringent government regulations. These factors are expected to fuel the growth of the global market during the forecast period.

Ferrochrome market: Leading trends influencing the market

The expansion of the mining industry is a leading trend in the market. Infrastructure development in developing countries such as India is driving the growth of the metal and mining industry. For instance, the Government of India has implemented policies to support the mining industry. In June 2021, the government approved a memorandum of understanding (MoU) for cooperation in the field of mineral resources. Thus, the expansion of the mining industry will have a positive impact on the adoption of alloys such as ferrochrome. These factors will support market growth during the forecast period.

Download the sample to get a holistic analysis of the market to evaluate and develop growth strategies

Ferrochrome market: Competitive analysis

The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies, growth strategies, product innovations, new product launches, investments, and growth in market share, among others. Buy the report

What are the key data covered in this ferrochrome market report?

• The ferrochrome market size is expected to accelerate at a CAGR of 4.39% during the forecast period.
• The ferrochrome market is segmented by product (charge chrome and high carbon, low carbon, and medium carbon), end-user (stainless steel, carbon and other alloys, and others), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Afarak Group Plc, ArcelorMittal SA, Balasore Alloys Ltd., Cia de Ferro Ligas da Bahia S.A., EHUI METALLURGY GROUP, Eurasian Resources Group Sarl, Glencore Plc, INDIAN METALS AND FERRO ALLOYS LTD., Jindal Steel and Power Ltd., Merafe Resources Ltd., Metallic Ferro Alloys LLP, Mintuo Group, Mitsubishi Corp., Ningxia Darshan Silicon Industry Co. Ltd., Outokumpu, Samancor Chrome Holdings Proprietary Ltd., Tata Steel Ltd., Vedanta Ltd., Visa Steel Ltd., and YILDIRIM HOLDING INC.

Learn more about how we can help you achieve your mission-critical priorities. Access 17,000+ market research reports using Technavio's SUBSCRIPTION platform

Related reports:

The global non-ferrous castings market size is estimated to grow by 11,099.32 thousand MTPA between 2022 and 2027, and the size of the market is forecasted to increase at a CAGR of 6.57%. This report extensively covers market segmentation by application (automobiles, electrical and construction, industrial machinery, and others), type (aluminum, copper, zinc, magnesium, and others), and geography (APAC, North America, Europe, Middle East, and Africa, and South America).

The iron ore market size is expected to increase by 445.76 million megatonnes from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.60%. Furthermore, this report extensively covers market segmentation by product (fines, pellets, lump, and HBI or DRI) and geography (APAC, Europe, South America, MEA, and North America).

Some of the key topics covered in the report include:

Market drivers

Market challenges

Market trends

Vendor landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

Browse for Technavio materials market reports

Table of contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (thousand t)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (thousand t)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global ferrochrome market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global ferrochrome market 2017 - 2021 (thousand t)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 (thousand t)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 (thousand t)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (thousand t)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (thousand t)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Charge chrome and high carbon - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Charge chrome and high carbon - Market size and forecast 2022-2027 (thousand t)
• Exhibit 35: Data Table on Charge chrome and high carbon - Market size and forecast 2022-2027 (thousand t)
• Exhibit 36: Chart on Charge chrome and high carbon - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Charge chrome and high carbon - Year-over-year growth 2022-2027 (%)

• 6.4 Low carbon - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Low carbon - Market size and forecast 2022-2027 (thousand t)
• Exhibit 39: Data Table on Low carbon - Market size and forecast 2022-2027 (thousand t)
• Exhibit 40: Chart on Low carbon - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Low carbon - Year-over-year growth 2022-2027 (%)

• 6.5 Medium carbon - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Medium carbon - Market size and forecast 2022-2027 (thousand t)
• Exhibit 43: Data Table on Medium carbon - Market size and forecast 2022-2027 (thousand t)
• Exhibit 44: Chart on Medium carbon - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Medium carbon - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product (thousand t)
• Exhibit 47: Data Table on Market opportunity by Product (thousand t)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 48: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 49: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 50: Chart on Comparison by End-user
• Exhibit 51: Data Table on Comparison by End-user

• 7.3 Stainless steel - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Stainless steel - Market size and forecast 2022-2027 (thousand t)
• Exhibit 53: Data Table on Stainless steel - Market size and forecast 2022-2027 (thousand t)
• Exhibit 54: Chart on Stainless steel - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Stainless steel - Year-over-year growth 2022-2027 (%)

• 7.4 Carbon and other alloy - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Carbon and other alloy - Market size and forecast 2022-2027 (thousand t)
• Exhibit 57: Data Table on Carbon and other alloy - Market size and forecast 2022-2027 (thousand t)
• Exhibit 58: Chart on Carbon and other alloy - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Carbon and other alloy - Year-over-year growth 2022-2027 (%)

• 7.5 Others - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Others - Market size and forecast 2022-2027 (thousand t)
• Exhibit 61: Data Table on Others - Market size and forecast 2022-2027 (thousand t)
• Exhibit 62: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by End-user 
• Exhibit 64: Market opportunity by End-user (thousand t)
• Exhibit 65: Data Table on Market opportunity by End-user (thousand t)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 (thousand t)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 (thousand t)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe - Market size and forecast 2022-2027 (thousand t)
• Exhibit 76: Data Table on Europe - Market size and forecast 2022-2027 (thousand t)
• Exhibit 77: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 79: Chart on North America - Market size and forecast 2022-2027 (thousand t)
• Exhibit 80: Data Table on North America - Market size and forecast 2022-2027 (thousand t)
• Exhibit 81: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 (thousand t)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (thousand t)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America - Market size and forecast 2022-2027 (thousand t)
• Exhibit 88: Data Table on South America - Market size and forecast 2022-2027 (thousand t)
• Exhibit 89: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 91: Chart on China - Market size and forecast 2022-2027 (thousand t)
• Exhibit 92: Data Table on China - Market size and forecast 2022-2027 (thousand t)
• Exhibit 93: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 India - Market size and forecast 2022-2027 
• Exhibit 95: Chart on India - Market size and forecast 2022-2027 (thousand t)
• Exhibit 96: Data Table on India - Market size and forecast 2022-2027 (thousand t)
• Exhibit 97: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.10 US - Market size and forecast 2022-2027 
• Exhibit 99: Chart on US - Market size and forecast 2022-2027 (thousand t)
• Exhibit 100: Data Table on US - Market size and forecast 2022-2027 (thousand t)
• Exhibit 101: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 (thousand t)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 (thousand t)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 (thousand t)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 (thousand t)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography (thousand t)
• Exhibit 112: Market opportunity by geography (thousand t) - Volume

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 117: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 118: Matrix on vendor position and classification

• 12.3 Afarak Group Plc
• Exhibit 119: Afarak Group Plc - Overview
• Exhibit 120: Afarak Group Plc - Business segments
• Exhibit 121: Afarak Group Plc - Key offerings
• Exhibit 122: Afarak Group Plc - Segment focus

• 12.4 ArcelorMittal SA
• Exhibit 123: ArcelorMittal SA - Overview
• Exhibit 124: ArcelorMittal SA - Business segments
• Exhibit 125: ArcelorMittal SA - Key offerings
• Exhibit 126: ArcelorMittal SA - Segment focus

• 12.5 Balasore Alloys Ltd.
• Exhibit 127: Balasore Alloys Ltd. - Overview
• Exhibit 128: Balasore Alloys Ltd. - Product / Service
• Exhibit 129: Balasore Alloys Ltd. - Key offerings

• 12.6 Cia de Ferro Ligas da Bahia S.A. 
• Exhibit 130: Cia de Ferro Ligas da Bahia S.A. - Overview
• Exhibit 131: Cia de Ferro Ligas da Bahia S.A. - Product / Service
• Exhibit 132: Cia de Ferro Ligas da Bahia S.A. - Key offerings

• 12.7 EHUI METALLURGY GROUP 
• Exhibit 133: EHUI METALLURGY GROUP - Overview
• Exhibit 134: EHUI METALLURGY GROUP - Product / Service
• Exhibit 135: EHUI METALLURGY GROUP - Key offerings

• 12.8 Eurasian Resources Group Sarl 
• Exhibit 136: Eurasian Resources Group Sarl - Overview
• Exhibit 137: Eurasian Resources Group Sarl - Product / Service
• Exhibit 138: Eurasian Resources Group Sarl - Key offerings

• 12.9 Glencore Plc
• Exhibit 139: Glencore Plc - Overview
• Exhibit 140: Glencore Plc - Business segments
• Exhibit 141: Glencore Plc - Key offerings
• Exhibit 142: Glencore Plc - Segment focus

• 12.10 INDIAN METALS AND FERRO ALLOYS LTD. 
• Exhibit 143: INDIAN METALS AND FERRO ALLOYS LTD. - Overview
• Exhibit 144: INDIAN METALS AND FERRO ALLOYS LTD. - Business segments
• Exhibit 145: INDIAN METALS AND FERRO ALLOYS LTD. - Key offerings
• Exhibit 146: INDIAN METALS AND FERRO ALLOYS LTD. - Segment focus

• 12.11 Mintuo Group
• Exhibit 147: Mintuo Group - Overview
• Exhibit 148: Mintuo Group - Product / Service
• Exhibit 149: Mintuo Group - Key offerings

• 12.12 Mitsubishi Corp.
• Exhibit 150: Mitsubishi Corp. - Overview
• Exhibit 151: Mitsubishi Corp. - Business segments
• Exhibit 152: Mitsubishi Corp. - Key news
• Exhibit 153: Mitsubishi Corp. - Key offerings
• Exhibit 154: Mitsubishi Corp. - Segment focus

• 12.13 Outokumpu
• Exhibit 155: Outokumpu - Overview
• Exhibit 156: Outokumpu - Business segments
• Exhibit 157: Outokumpu - Key news
• Exhibit 158: Outokumpu - Key offerings
• Exhibit 159: Outokumpu - Segment focus

• 12.14 Samancor Chrome Holdings Proprietary Ltd. 
• Exhibit 160: Samancor Chrome Holdings Proprietary Ltd. - Overview
• Exhibit 161: Samancor Chrome Holdings Proprietary Ltd. - Product / Service
• Exhibit 162: Samancor Chrome Holdings Proprietary Ltd. - Key offerings

• 12.15 Tata Steel Ltd.
• Exhibit 163: Tata Steel Ltd. - Overview
• Exhibit 164: Tata Steel Ltd. - Business segments
• Exhibit 165: Tata Steel Ltd. - Key news
• Exhibit 166: Tata Steel Ltd. - Key offerings
• Exhibit 167: Tata Steel Ltd. - Segment focus

• 12.16 Vedanta Ltd.
• Exhibit 168: Vedanta Ltd. - Overview
• Exhibit 169: Vedanta Ltd. - Business segments
• Exhibit 170: Vedanta Ltd. - Key news
• Exhibit 171: Vedanta Ltd. - Key offerings
• Exhibit 172: Vedanta Ltd. - Segment focus

• 12.17 YILDIRIM HOLDING INC. 
• Exhibit 173: YILDIRIM HOLDING INC. - Overview
• Exhibit 174: YILDIRIM HOLDING INC. - Product / Service
• Exhibit 175: YILDIRIM HOLDING INC. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations 
• Exhibit 182: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio