Ferro Alloys Market How It Is Going To Impact on Chemical Industry to Growth

Posted by Moin Patni on March 5th, 2018

Market Overview:

The global ferro alloys market is expected to witness a significant growth of 5.1% and is expected to reach USD 59.4 billion by 2022.

The market witnessed a significant growth over the forecasted period owing to growing applications such as road rails, automobile bodies, cutlery, metallurgy, and others across various industries.

Ferroalloys are manufacture by two methods which is by blast furnace or by electric arc furnace. Ferro alloys are produced by carbothermic reactions, involving reduction of oxides with carbon in the presence of iron. Some ferroalloys are produced by the addition of elements into molten iron.

Ferroalloys are used as main alloys in production of steels, in the process of manufacturing in stainless steels, alloying of steels, and also in various applications of iron or steel industries. They are the most economical procedure for involving alloying material into the steels. Ferroalloys convey distinguish properties from steels and cast irons. Basically they are used as raw material in the manufacturing of alloys steel and stainless steel. Ferroalloys helps increases its resistance to corrosion and oxidation, improves its hardenability, tensile strength at high temperature, wear and abrasion resistance with added carbon and increases other desired properties in the steel.

Market Highlights:

Ferroalloys is basically known for the iron and steel field, referring to any iron alloy that includes constituent as well as carbon elements that are used in the steel industry to improve their properties, providing them with specific properties depending on the metal that is used in production such as resistance with high melting point, like gas turbines and stainless steels for superior corrosion resistance, increase chemical resistance for sulfur reactions. The most important ferro alloys from the various types are ferromanganese, silicomanganese and ferrochrome and others are ferromolybdenum, ferronickel, ferrotitanium, ferrotungsten, ferrovanadium, and others.

Ferromanganese is an iron alloy formed from carbothermal reaction, with manganese oxide-based minerals. On the other hand, it is used for manufacturing various types of steel in the form of desulfurizing, eliminating nitrogen bubbles that may form during manufacture. However, ferromanganese does not present any danger for transport and therefore it is important to take precautions to prevent the spreading dust from this ferromanganese, due to its pollutant nature and irritation of the airways.

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Segment Analysis:

The global ferro alloy market has been segmented into by types and by application. On the basis of types, the market has been divided into ferrochromium, ferromanganese, ferromolybdenum, ferronickel, ferrosilicon, ferrotitanium, ferrotungsten, ferrovanadium, and others. Among these types, ferromanganese, silicomanganese and ferrochrome have cover the largest market followed by ferronickel, ferrovanadium and others. The leading ferro alloys producing countries are China, South Africa, India, Russia, and Kazakhstan. According to USGS report these five countries accounted for 84% of world ferroalloy production.  In which ferromanganese is highly demanding material due to large requirement in stainless steel industry, this is an important end-use industry for ferromanganese. China is the leading world producer of manganese ferroalloys, followed by India, South Africa, and Ukraine.

Regional Insights:

The market is classified and analyzed on the basis of various geographic segmentation which includes; Americas, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Ferro Alloys market is largest market owing to robust industry growth of application industry in China and India. Increasing Ferro Alloys production for manufacturing in steels and ferrous alloy expected to boost the market demand. Europe witnessed a second stagnant growth owing to robust ferro alloys market. North America witnessed a positive growth over the forecasted period.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of key vendors.

Global Ferro Alloys Market Key Players:

Tata Steel FAMD (India),

Maithan Alloys Ltd (India),

FACOR Group (India),

Georgian American Alloys, Inc. (US),

Atc Alloys Limited (Australia),

Chengdu Huarui Industrial Co., Ltd (China),

Vietnam Youngsun Tungsten Industry Co. Ltd (China),

Eramet Marietta Inc.(US),

Felman Production LLC (US),

Anyang Mingrui Inductry Co. Ltd(China)

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