Global Ferro Chrome Industry Market Report Description:
Global ferro chrome industry market report gives comprehensive outlook on ferro chrome Industry across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The report on global ferro chrome industry market gives historical, current, and future market sizes (US$ Mn) on the basis of product type, application, and regions. This report studies global ferro chrome industry market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global ferro chrome industry market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global Ferro Chrome industry market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global ferro chrome Industry market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global ferro chrome Industry products.
Global Ferro Chrome Industry Market:
The global ferro chrome industry market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Stainless steel is manufactured predominantly from ferrochrome. Moreover, low carbon ferrochrome is also used in the manufacturing of acid-resistant steels which further upsurges the market growth. Ferrochrome powder is used in the field of powder metallurgy. It is used in road construction and civil engineering in addition to in the manufacturing of refractory materials owing to its chemical stability. These factors create a surge for these chemicals in the market. However, exposure to ferrochrome can impose severe health implications which might affect skin, eyes, and irritation to mouth. These factors can negatively impact the growth of market.
Rising Demand from Alloy Steel Segment
Ferro chrome is used for a wide range of applications like alloy steel, stainless steel, carbon steel, and others. Alloy steel holds a maximum share in the market in terms of revenue and is expected to grow substantially in the near future. Manufacturing of pipes and bearings are the most important uses of alloy steel. Excellent properties provided to the pipes which is majorly made up of these steels have devour key solicitations in gas drilling, oil. Aerospace, defense, general engineering, railway etc. are the major end users to employ alloy steel. Moreover, rising investment in manufacturing sector is expected to create a demand for alloy steels during the forecast period.
Carbon steel has a wide range of application which requires hardness and strength, wear resistance, predominately in wrenches, chisels, structural wires & cables, railway wheels, drill bits, etc. Increasing industrialization and urbanization has up surged the demand for carbon steel during the forecast period.
Asia Pacific Accounts for Larger Market Revenue Share in Global Ferro Chrome Industry Market
Asia Pacific displays a strong growth in the market. Increased consumption and exports from China, Japan coupled with emerging technology for the manufacturing of ferrochemical is expected to drive the market growth. North America is expected to register a significant CAGR due to increased production of ferrochemical in this region. Europe exhibits a lethargic growth due to global recession in this region coupled with dampen economy.
Key player’s profiles in the global ferro chrome industry market include:
- Tata Steel
- Arcelor Mittal
- OM Holdings
- Gulf Ferroalloys
- Brahm Group
- Ferroalloy Corporation Limited
- Sakura Ferroalloys
- Eurasian Natural Resources Corporation
- C. Feral S.R.L.
- Jindal Group
- China Minmetals Corporation
- Pertama Ferroalloys
Key players in ferro chrome industry market enhance their product portfolio and consumer base by adopting striking market strategy like collaborations, acquisitions, technological innovations, among others. For instance, JSW Steel entered into an agreement with Ispat Industries Ltd to acquire Ispat. The deal will bring significant advantages, particularly in alternative steelmaking technologies and house multiple modern steel-making technologies under one roof enabling flexible production processes.
Key Findings of the Report:
- Global ferro chrome industry market expanding at significant CAGR over 2019 to 2025 due to increasing regulations related to fire safety.
- Based on application, alloy steel segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global ferro chrome industry market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market.
By Product Type
- High Carbon Ferro Chrome
- Low Silicon Ferro Chrome
By Application Type
- Alloy steel
- Stainless steel
- Carbon steel
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East and Africa
- South Africa
- Gulf Corporation Council Counties (GCC)
- Rest of MEA