Global Ferrochrome Market 2023-2029

Global Ferrochrome Market 2023-2029

Ferrochrome is an alloy composed of chromium and iron, with a variable percentage of carbon, silicon, and other impurities. It is produced by using high carbon content ferrochromium, silicochromium, or chromite ore in the presence of carbon (coke) and a fluxing agent such as lime. The process of producing ferrochrome is known as the smelting process. Ferrochrome is widely used in the production of stainless steel due to its high corrosion resistance properties. It helps in enhancing the strength and durability of the steel and makes it resistant to heat, oxidation, and erosion. It is also used in the production of other alloys such as superalloys, nichrome, and refractory materials. The global ferrochrome market size is projected to grow by USD 7.9 billion from 2023 to 2029, registering a CAGR of 6.04 percent, according to the latest market data.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global ferrochrome market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the product, application, and region. The global market for ferrochrome can be segmented by product: low carbon ferrochrome, medium carbon ferrochrome, high carbon ferrochrome. The high carbon ferrochrome segment held the largest revenue share in 2022. Ferrochrome market is further segmented by application: stainless steel, others. Among these, the stainless steel segment was accounted for the highest revenue generator in 2022. Based on region, the ferrochrome market is segmented into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. Asia-Pacific captured the largest share of the market in 2022.

Market Segmentation

By product: low carbon ferrochrome, medium carbon ferrochrome, high carbon ferrochrome

By application: stainless steel, others

By region: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America

The report has also analysed the competitive landscape of the global ferrochrome market with some of the key players being Afarak Group plc, Al Tamman Group, Anik Industries Ltd., Balasore Alloys Ltd., Eurasian Resources Group S.à r.l., Glencore plc, Hernic Ferrochrome (Pty) Ltd., Outokumpu Oyj, Rohit Ferro-Tech Limited, The Ferro Alloys Corporation Limited, Yildirim Holding AS, among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.



Scope of the Report

• To analyze and forecast the market size of the global ferrochrome market.
• To classify and forecast the global ferrochrome market based on product, application, region.
• To identify drivers and challenges for the global ferrochrome market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global ferrochrome market.
• To identify and analyze the profile of leading players operating in the global ferrochrome market.

• Gain a reliable outlook of the global ferrochrome market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.