Ferromanganese Market 2022: Industry Report, Value, Volume, Growth Drivers and Forecast by 2027
Ferromanganese is an iron alloy with high manganese content. It is produced by heating a mixture of the oxides MnO? and Fe?O? with carbon in a blast furnace or a submerged arc furnace.
According to IMARC Group latest report titled “Ferromanganese Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on ferromanganese market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global ferromanganese market is expected to exhibit a CAGR of 4.4% during 2022-2027.
Ferromanganese refers to an iron alloy that usually consists of a high amount of manganese. It is manufactured with carbothermal reduction using coke and coal in the blast or submerged arc furnaces. Ferromanganese is commonly available in low, high, and medium carbon variants. They exhibit high tensile strength, durability, heat resistance, as well as antioxidant properties and are used for countering the effects of sulfur. Furthermore, ferromanganese is extensively utilized as a deoxidizer for the production of steel and iron. In line with this, it finds wide-ranging applications across numerous industries, such as automotive, construction, aerospace and defense, etc.
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The inflating levels of industrialization are primarily driving the ferromanganese market. Additionally, the widespread product adoption as a substitute for nickel to produce stainless steel with improved workability, tensile strength, toughness, resistance to abrasion, etc., is further catalyzing the market growth. Besides this, the escalating demand for medium and high carbon ferromanganese as a desulphurizing agent in the metallurgy and chemical industries is acting as another significant growth-inducing factor. Moreover, the rising investments in infrastructural developments and R&D activities by the leading manufacturers are also positively influencing the global market. Apart from this, the introduction of several technological advancements in the processing and refining processes of product variants is anticipated to fuel the ferromanganese market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- China Minmetals Group Co. Ltd.
- Eramet Group
- Eurasian Resources Group
- Ferroglobe (Grupo Villar Mir, S.A.U.)
- Gulf Manganese Corporation Limited
- Jiaocheng Yiwang Ferroalloy Co Ltd.
- OM Holdings Ltd.
- Tata Steel Ltd.
- Vale S.A
Ferromanganese Market Segmentation:
Our report has categorized the market based on region, grade and application.
Breakup by Grade:
- High Carbon Ferromanganese
- Refined Ferromanganese
Breakup by Application:
- Carbon Steel
- Stainless Steel
- Alloy Steel
- Cast Iron
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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